B. Riley Financial Issues Pessimistic Forecast for Backblaze (NASDAQ:BLZE) Stock Price

Backblaze (NASDAQ:BLZE) had its price target lowered by research analysts at B. Riley Financial from $9.00 to $7.50 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial’s price target points to a potential upside of 96.59% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Craig Hallum cut Backblaze from a “buy” rating to a “hold” rating and set a $4.50 target price on the stock. in a report on Tuesday. Citigroup reiterated a “market outperform” rating on shares of Backblaze in a report on Tuesday. Oppenheimer cut their price target on shares of Backblaze from $9.50 to $8.50 and set an “outperform” rating for the company in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Backblaze in a research report on Wednesday, January 21st. Finally, Needham & Company LLC reduced their target price on Backblaze from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.21.

Backblaze Price Performance

BLZE traded down $0.56 on Tuesday, hitting $3.82. 2,063,337 shares of the company’s stock were exchanged, compared to its average volume of 766,391. The firm has a 50-day moving average price of $4.63 and a 200-day moving average price of $6.73. The stock has a market cap of $220.13 million, a price-to-earnings ratio of -5.70 and a beta of 1.28. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.24. Backblaze has a fifty-two week low of $3.73 and a fifty-two week high of $10.86.

Institutional Trading of Backblaze

A number of large investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new stake in Backblaze in the 1st quarter valued at about $426,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Backblaze by 17.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,094 shares of the company’s stock worth $131,000 after acquiring an additional 4,060 shares during the last quarter. Millennium Management LLC increased its position in shares of Backblaze by 32.5% in the 1st quarter. Millennium Management LLC now owns 825,422 shares of the company’s stock valued at $3,987,000 after purchasing an additional 202,609 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Backblaze by 27.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 261,610 shares of the company’s stock valued at $1,264,000 after purchasing an additional 55,720 shares in the last quarter. Finally, CWM LLC grew its stake in shares of Backblaze by 81.1% during the second quarter. CWM LLC now owns 8,957 shares of the company’s stock worth $49,000 after purchasing an additional 4,012 shares in the last quarter. Hedge funds and other institutional investors own 54.03% of the company’s stock.

Backblaze News Roundup

Here are the key news stories impacting Backblaze this week:

• Positive Sentiment: Q4 beat on both EPS and revenue: Backblaze reported $0.06 EPS (vs. $0.01 consensus) and $37.76M revenue (slightly above estimates), showing improvement from a year-ago loss — this likely supported near-term investor interest. MarketBeat Q4 Results
• Positive Sentiment: Product and commercial traction: Backblaze launched B2 Neo (neocloud-focused storage) and announced its largest TCV to date — an eight‑figure neocloud agreement and multiple platform signings that validate enterprise demand for the new product. Financial Post: B2 Neo Launch
• Neutral Sentiment: Earnings call and transcript available: Management provided strategic commentary and slides that investors can review for details on neocloud strategy and contract cadence — useful for assessing longer-term revenue drivers. Seeking Alpha Transcript
• Neutral Sentiment: Third‑party writeups and comparison pieces circulated (e.g., reviews comparing Backblaze with other tech names), which can influence sentiment but are not company announcements. American Banking News Review
• Negative Sentiment: Guidance disappointed vs. Street: Backblaze updated Q1 2026 and FY‑2026 revenue ranges that sit below consensus (Q1 ~ $37.6M–$38.0M vs. ~$38.1M consensus; FY ~$156.5M–$158.5M vs. ~$160.3M consensus), which likely pressured the share price. Business Wire Results & Guidance
• Negative Sentiment: Analyst price-target cut: Needham lowered its PT from $8 to $6 but kept a Buy rating — the lower target reduces near-term upside expectations even though the rating was maintained. StreetInsider: Needham PT Lowered

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. This service is offered as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases, such as public, hybrid, and multi-cloud data storage; application development and DevOps; content delivery and edge computing; security and ransomware protection; media management; backup, archive, and tape replacement; repository for analytics, artificial intelligence and machine learning; and Internet of Things.