Backblaze (NASDAQ:BLZE) Stock Rating Upgraded by Wall Street Zen

Posted by Brian Himes on Oct 12th, 2026

Backblaze (NASDAQ:BLZE – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently weighed in on the stock. Oppenheimer boosted their target price on shares of Backblaze from $15.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. William Blair reiterated a “market perform” rating on shares of Backblaze in a research note on Friday, October 2nd. Craig Hallum raised shares of Backblaze from a “hold” rating to a “buy” rating and lifted their price objective for the company from $6.50 to $16.00 in a research report on Tuesday, June 23rd. Lake Street Capital restated a “buy” rating and set a $21.00 price objective on shares of Backblaze in a research note on Tuesday, August 4th. Finally, Citizens Jmp boosted their price objective on shares of Backblaze from $16.00 to $21.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 4th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.71.

Read Our Latest Report on Backblaze

Backblaze Price Performance

BLZE stock opened at $12.69 on Friday. The company has a market cap of $785.51 million, a price-to-earnings ratio of -37.32 and a beta of 1.56. Backblaze has a twelve month low of $3.26 and a twelve month high of $23.99. The business has a 50 day moving average price of $15.08 and a two-hundred day moving average price of $10.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34.

Backblaze (NASDAQ:BLZE – Get Free Report) last announced its quarterly earnings data 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 company had revenue of $42.71 million for the quarter, compared to analysts’ expectations of $39.94 million. Backblaze had a negative return on equity of 16.73% and a negative net margin of 13.07%. Analysts anticipate that Backblaze will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gleb Budman sold 12,855 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 2,192,103 shares of the company’s stock, valued at approximately $34,679,069.46. The trade was a 0.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Marc Suidan sold 2,110 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $15.82, for a total value of $33,380.20. Following the transaction, the chief financial officer directly owned 349,518 shares in the company, valued at $5,529,374.76. The trade was a 0.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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

A number of large investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd bought a new position in Backblaze during the second quarter worth $295,000. Integrated Wealth Concepts LLC acquired a new position in shares of Backblaze in the second quarter valued at $77,000. Squarepoint Ops LLC increased its holdings in shares of Backblaze by 385.1% in the second quarter. Squarepoint Ops LLC now owns 155,417 shares of the company’s stock valued at $2,465,000 after purchasing an additional 123,382 shares during the last quarter. Allworth Financial LP raised its position in shares of Backblaze by 83.8% in the second quarter. Allworth Financial LP now owns 1,726 shares of the company’s stock valued at $27,000 after purchasing an additional 787 shares during the period. Finally, AXQ Capital LP bought a new position in shares of Backblaze in the second quarter valued at about $314,000. Institutional investors own 54.03% of the company’s stock.

Backblaze Company Profile

(Get Free Report)

Backblaze, Inc provides cloud storage and data backup services for businesses, developers, and individual customers. Its platform is designed to help organizations store, protect, manage, and access data without maintaining their own extensive physical storage infrastructure.

The company’s primary offerings include Backblaze B2 Cloud Storage, an object storage service for applications, backup systems, content delivery, and data-intensive workloads, and Backblaze Computer Backup, which automatically backs up data from computers.