Backblaze, Inc. (NASDAQ:BLZE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Posted by Francis Steltz on Aug 30th, 2026

Backblaze, Inc. (NASDAQ:BLZE – Get Free Report) has received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $19.7143.

Several research analysts have recently commented on the company. Citigroup reaffirmed a “market outperform” rating on shares of Backblaze in a research note on Thursday, July 23rd. B. Riley Financial lifted their target price on shares of Backblaze from $16.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Craig Hallum upgraded Backblaze from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.50 to $16.00 in a research report on Tuesday, June 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Backblaze in a research note on Wednesday, August 12th. Finally, Wall Street Zen upgraded Backblaze from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th.

View Our Latest Stock Report on Backblaze

Backblaze Stock Performance

Shares of BLZE stock opened at $14.33 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $15.45 and a 200-day moving average price of $8.83. Backblaze has a 52 week low of $3.26 and a 52 week high of $23.99. The firm has a market capitalization of $887.03 million, a PE ratio of -42.15 and a beta of 1.56.

Backblaze (NASDAQ:BLZE – Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.06. Backblaze had a negative net margin of 13.07% and a negative return on equity of 16.73%. The firm had revenue of $42.71 million for the quarter, compared to analysts’ expectations of $39.94 million. As a group, equities research analysts expect that Backblaze will post -0.26 earnings per share for the current year.

Insider Activity at Backblaze

In other Backblaze news, CFO Marc Suidan sold 2,110 shares of Backblaze stock in a transaction on Friday, August 21st. The shares were sold at an average price of $15.82, for a total value of $33,380.20. Following the sale, the chief financial officer directly owned 349,518 shares in the company, valued at approximately $5,529,374.76. The trade was a 0.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gleb Budman sold 12,855 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $15.82, for a total transaction of $203,366.10. Following the completion of the sale, the chief executive officer owned 2,192,103 shares in the company, valued at approximately $34,679,069.46. The trade was a 0.58% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Backblaze

Several large investors have recently made changes to their positions in BLZE. Vanguard Group Inc. boosted its stake in Backblaze by 5.2% during the third quarter. Vanguard Group Inc. now owns 2,693,508 shares of the company’s stock valued at $24,996,000 after buying an additional 134,034 shares during the last quarter. Wasatch Advisors LP purchased a new stake in shares of Backblaze during the 3rd quarter worth approximately $17,021,000. Pillsbury Lake Capital LLC purchased a new stake in shares of Backblaze during the 4th quarter worth approximately $8,058,000. Whetstone Capital Advisors LLC boosted its position in shares of Backblaze by 4.1% during the 4th quarter. Whetstone Capital Advisors LLC now owns 1,520,055 shares of the company’s stock valued at $7,083,000 after acquiring an additional 59,263 shares during the last quarter. Finally, AWM Investment Company Inc. purchased a new position in shares of Backblaze in the second quarter valued at $22,207,000. 54.03% of the stock is owned by institutional investors.

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.