Backblaze (NASDAQ:BLZE) Stock Price Down 8.4% – Should You Sell?

Posted by Brian Himes on Oct 14th, 2026

Backblaze, Inc. (NASDAQ:BLZE – Get Free Report) shares traded down 8.4% during mid-day trading on Wednesday. The stock traded as low as $11.72 and last traded at $11.4620. 394,499 shares changed hands during trading, a decline of 81% from the average daily volume of 2,072,720 shares. The stock had previously closed at $12.51.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citizens Jmp increased their target price on Backblaze from $16.00 to $21.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Backblaze in a research report on Wednesday, August 12th. B. Riley Financial raised their target price on Backblaze from $16.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Lake Street Capital restated a “buy” rating and issued a $21.00 price objective on shares of Backblaze in a report on Tuesday, August 4th. Finally, William Blair restated a “market perform” rating on shares of Backblaze in a research report on Friday, October 2nd. Eight research 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.71.

Get Our Latest Analysis on BLZE

Backblaze Price Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $619.68 million, a price-to-earnings ratio of -29.10 and a beta of 1.56. The business has a fifty day moving average price of $14.88 and a 200 day moving average price of $11.01.

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, beating the consensus estimate of $0.02 by $0.06. The company had revenue of $42.71 million for the quarter, compared to the consensus estimate of $39.94 million. Backblaze had a negative return on equity of 16.73% and a negative net margin of 13.07%. On average, research analysts expect that Backblaze, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Activity at Backblaze

In other Backblaze news, CEO Gleb Budman sold 12,855 shares of Backblaze stock in a transaction on Friday, August 21st. The stock was sold at an average price of $15.82, for a total value of $203,366.10. Following the completion of the transaction, the chief executive officer directly owned 2,192,103 shares of the company’s stock, valued at $34,679,069.46. The trade was a 0.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction 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 sale, the chief financial officer owned 349,518 shares of the company’s stock, valued at $5,529,374.76. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.

Hedge Funds Weigh In On Backblaze

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in shares of Backblaze by 83.8% during 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 last quarter. Sei Investments Co. bought a new stake in shares of Backblaze during the first quarter worth $60,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Backblaze in the 2nd quarter worth approximately $77,000. R Squared Ltd acquired a new stake in shares of Backblaze in the 1st quarter worth $84,000. Finally, State of Wyoming grew its stake in Backblaze by 17.8% during the 1st quarter. State of Wyoming now owns 30,980 shares of the company’s stock valued at $107,000 after purchasing an additional 4,679 shares during the last quarter. Hedge funds and other institutional investors own 54.03% of the company’s stock.

About Backblaze

(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.