Backblaze (BLZE) Stock Forecast, Price & News

5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Backblaze in the last twelve months. There are currently 5 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" BLZE shares.
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5 Wall Street analysts have issued 1-year price objectives for Backblaze's shares. Their BLZE share price forecasts range from $7.50 to $18.00. On average, they anticipate the company's share price to reach $11.00 in the next year. This suggests a possible upside of 84.3% from the stock's current price.
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Backblaze's stock was trading at $6.15 at the start of the year. Since then, BLZE shares have decreased by 2.9% and is now trading at $5.97.
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Backblaze saw a decrease in short interest in August. As of August 31st, there was short interest totaling 148,500 shares, a decrease of 24.4% from the August 15th total of 196,500 shares. Based on an average daily volume of 195,900 shares, the short-interest ratio is currently 0.8 days. Currently, 0.8% of the company's stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 8th 2023.
View our BLZE earnings forecast.

Backblaze, Inc. (NASDAQ:BLZE) announced its quarterly earnings results on Tuesday, August, 8th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.03. The business had revenue of $24.59 million for the quarter, compared to analyst estimates of $24.27 million. Backblaze had a negative net margin of 63.51% and a negative trailing twelve-month return on equity of 82.97%.

Gabelli Automation ETF holds 4,427 shares of BLZE stock, representing 0.64% of its portfolio.

Backblaze issued an update on its third quarter 2023 earnings guidance on Tuesday, August, 8th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $25.00 million-$25.40 million, compared to the consensus revenue estimate of $25.53 million.

(BLZE) raised $101 million in an IPO on Thursday, November 11th 2021. The company issued 6,300,000 shares at $15.00-$17.00 per share. Oppenheimer & Co., William Blair and Raymond James acted as the underwriters for the IPO and JMP Securities, Lake Street and B. Riley Securities were co-managers.

Backblaze trades on the NASDAQ under the ticker symbol "BLZE."

Backblaze's stock is owned by many different institutional and retail investors. Top institutional investors include Whetstone Capital Advisors LLC (4.67%), AWM Investment Company Inc. (3.21%), BlackRock Inc. (0.86%), Acadian Asset Management LLC (0.63%), Geode Capital Management LLC (0.49%) and Trellus Management Company LLC (0.47%). Insiders that own company stock include Brian K Wilson, Charles J Jones, Francis P Patchel, Gleb Budman, Kwok Hang Ng, Timothy M Nufire, Tina Cessna and Tmt Investments Plc.
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Shares of BLZE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of BLZE stock can currently be purchased for approximately $5.97.

Backblaze (NASDAQ:BLZE) has a market capitalization of $215.52 million and generates $85.15 million in revenue each year. The company earns $-51,400,000.00 in net income (profit) each year or ($1.76) on an earnings per share basis.

The company employs 393 workers across the globe.

The official website for the company is www.backblaze.com. The company can be reached via phone at 650-352-3738, via email at ir@backblaze.com, or via fax at 650-472-8095.