Backblaze (BLZE) to Release Earnings on Wednesday

Backblaze (NASDAQ:BLZE - Get Free Report) will be posting its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect Backblaze to post earnings of ($0.15) per share for the quarter. Investors that are interested in registering for the company's conference call can do so using this link.

Backblaze (NASDAQ:BLZE - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. The company had revenue of $28.74 million during the quarter, compared to analyst estimates of $28.18 million. Backblaze had a negative return on equity of 105.94% and a negative net margin of 57.70%. On average, analysts expect Backblaze to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Backblaze Trading Up 0.1 %

NASDAQ:BLZE traded up $0.01 on Wednesday, reaching $9.32. 179,493 shares of the company's stock were exchanged, compared to its average volume of 355,843. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.39. Backblaze has a 52-week low of $3.50 and a 52-week high of $12.65. The firm has a market capitalization of $383.98 million, a price-to-earnings ratio of -5.64 and a beta of 1.20. The business has a fifty day moving average of $10.15 and a 200-day moving average of $8.24.

Wall Street Analyst Weigh In

BLZE has been the topic of several analyst reports. Oppenheimer lifted their target price on Backblaze from $11.00 to $13.00 and gave the company an "outperform" rating in a research note on Wednesday, April 17th. Raymond James upped their price target on Backblaze from $12.00 to $14.00 and gave the stock an "outperform" rating in a research note on Friday, February 16th. Finally, B. Riley upped their price objective on shares of Backblaze from $9.00 to $11.00 and gave the company a "buy" rating in a research report on Friday, February 9th.

Insider Buying and Selling at Backblaze

In related news, CFO Francis P. Patchel sold 2,396 shares of Backblaze stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $10.85, for a total value of $25,996.60. Following the completion of the sale, the chief financial officer now directly owns 184,165 shares in the company, valued at $1,998,190.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Backblaze news, VP Tina Cessna sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $9.95, for a total transaction of $199,000.00. Following the transaction, the vice president now owns 121,083 shares of the company's stock, valued at $1,204,775.85. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Francis P. Patchel sold 2,396 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $10.85, for a total transaction of $25,996.60. Following the sale, the chief financial officer now owns 184,165 shares of the company's stock, valued at $1,998,190.25. The disclosure for this sale can be found here. Insiders have sold 81,429 shares of company stock worth $851,676 over the last three months. Company insiders own 5.20% of the company's stock.

Backblaze Company Profile

Backblaze, Inc, a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases.