Backblaze (NASDAQ:BLZE) Stock Price Up 7.6% – Here’s Why

Posted by Stanley Muller on Jul 7th, 2026

Backblaze, Inc. (NASDAQ:BLZE – Get Free Report)’s stock price rose 7.6% during trading on Tuesday . The company traded as high as $16.30 and last traded at $16.46. Approximately 1,434,918 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 1,923,555 shares. The stock had previously closed at $15.30.

Analyst Upgrades and Downgrades

BLZE has been the subject of several analyst reports. Lake Street Capital upped their target price on Backblaze from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Needham & Company LLC lifted their price target on Backblaze from $8.50 to $14.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Weiss Ratings downgraded shares of Backblaze from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 15th. Wall Street Zen lowered shares of Backblaze from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, William Blair upgraded shares of Backblaze from an “underperform” rating to a “market perform” rating in a report on Tuesday, June 23rd. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.93.

View Our Latest Stock Report on Backblaze

Backblaze Stock Performance

The stock has a market cap of $984.14 million, a PE ratio of -41.97 and a beta of 1.55. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a 50-day simple moving average of $8.76 and a 200-day simple moving average of $5.81.

Backblaze (NASDAQ:BLZE – Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $38.67 million for the quarter, compared to the consensus estimate of $37.78 million. Backblaze had a negative return on equity of 20.54% and a negative net margin of 14.97%. Equities analysts predict that Backblaze, Inc. will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in Backblaze by 1,388.2% during the fourth quarter. Royal Bank of Canada now owns 5,551 shares of the company’s stock worth $26,000 after buying an additional 5,178 shares during the period. ProShare Advisors LLC acquired a new position in shares of Backblaze during the 4th quarter valued at $47,000. Oxford Asset Management LLP purchased a new stake in Backblaze during the 4th quarter worth $47,000. M&T Bank Corp purchased a new stake in Backblaze during the 4th quarter worth $49,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in Backblaze in the 2nd quarter valued at $58,000. 54.03% of the stock is owned by institutional investors and hedge funds.

Backblaze Company Profile

(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.