Shares of Backblaze, Inc. (NASDAQ:BLZE – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $13.2143.
A number of equities analysts have commented on BLZE shares. William Blair upgraded shares of Backblaze from an “underperform” rating to a “market perform” rating in a research note on Tuesday, June 23rd. Citigroup reiterated a “market outperform” rating on shares of Backblaze in a report on Thursday, July 23rd. Wall Street Zen cut Backblaze from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Craig Hallum upgraded Backblaze from a “hold” rating to a “buy” rating and raised their price objective for the stock from $6.50 to $16.00 in a report on Tuesday, June 23rd. Finally, Citizens Jmp raised their price objective on Backblaze from $14.00 to $16.00 and gave the stock a “market outperform” rating in a report on Thursday, July 23rd.
View Our Latest Stock Analysis on BLZE
Hedge Funds Weigh In On Backblaze
Backblaze Stock Up 8.6%
Shares of BLZE opened at $13.72 on Wednesday. The firm has a market capitalization of $824.57 million, a P/E ratio of -35.18 and a beta of 1.55. Backblaze has a 12-month low of $3.26 and a 12-month high of $18.25. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average price of $11.65 and a 200-day moving average price of $7.04.
Backblaze (NASDAQ:BLZE – Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Backblaze had a negative net margin of 14.97% and a negative return on equity of 20.54%. The firm had revenue of $38.67 million for the quarter, compared to analysts’ expectations of $37.78 million. Equities research analysts expect that Backblaze will post -0.37 earnings per share for the current year.
About Backblaze
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.
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