Backblaze (NASDAQ:BLZE) Price Target Raised to $25.00

Posted by on Aug 7th, 2026

Backblaze (NASDAQ:BLZE – Free Report) had its target price lifted by Oppenheimer from $15.00 to $25.00 in a report released on Tuesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

BLZE has been the subject of a number of other research reports. Citigroup reaffirmed a “market outperform” rating on shares of Backblaze in a research note on Thursday, July 23rd. Citizens Jmp lifted their target price on Backblaze from $16.00 to $21.00 and gave the company a “market outperform” rating in a research note on Tuesday. B. Riley Financial boosted their price target on Backblaze from $16.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday. Craig Hallum upgraded Backblaze from a “hold” rating to a “buy” rating and upped their price target for the stock from $6.50 to $16.00 in a research note on Tuesday, June 23rd. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $21.00 price objective on shares of Backblaze in a report on Tuesday. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Backblaze presently has an average rating of “Moderate Buy” and an average price target of $19.71.

Read Our Latest Report on Backblaze

Backblaze Stock Down 2.7%

BLZE opened at $18.11 on Tuesday. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -53.26 and a beta of 1.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.05 and a current ratio of 1.00. The firm’s fifty day moving average is $12.46 and its 200 day moving average is $7.42. Backblaze has a fifty-two week low of $3.26 and a fifty-two week high of $23.99.

Backblaze (NASDAQ:BLZE – Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. The business had revenue of $42.71 million during the quarter, compared to analyst estimates of $39.94 million. Backblaze had a negative return on equity of 16.73% and a negative net margin of 13.07%. On average, sell-side analysts forecast that Backblaze will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new position in shares of Backblaze during the first quarter valued at about $426,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 buying an additional 4,060 shares in the last quarter. Millennium Management LLC lifted its position in shares of Backblaze by 32.5% in the first quarter. Millennium Management LLC now owns 825,422 shares of the company’s stock worth $3,987,000 after buying an additional 202,609 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Backblaze by 27.1% during the first quarter. Goldman Sachs Group Inc. now owns 261,610 shares of the company’s stock valued at $1,264,000 after buying an additional 55,720 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Backblaze by 13.5% during the second quarter. Geode Capital Management LLC now owns 1,168,558 shares of the company’s stock valued at $6,428,000 after buying an additional 139,429 shares during the last quarter. Institutional investors own 54.03% of the company’s stock.

About Backblaze

(Get Free Report)

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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