In yesterday’s Wall Street session, Backblaze Inc. (NASDAQ:BLZE) shares traded at $6.15, up 7.14% from the previous session.
As we calculate the median target price by taking the range between a high of $18.00 and a low of $8.50, we find $9.00. Given the previous closing price of $5.74, this indicates a potential upside of 56.79 percent. BLZE stock price is now 30.30% away from the 50-day moving average and -3.77% away from the 200-day moving average. The market capitalization of the company currently stands at $186.22M.
Brokers who have rated the stock have averaged $11.00 as their price target over the next twelve months.
On December 06, 2021, Raymond James recently initiated its ‘Outperform’ rating on the stock quoting a target price of $26, while ‘Oppenheimer’ rates the stock as ‘Outperform’.
In other news, Budman Gleb, CEO and Chairperson sold 2,000 shares of the company’s stock on Dec 29. The stock was sold for $11,220 at an average price of $5.61. Upon completion of the transaction, the CEO and Chairperson now directly owns 240,000 shares in the company, valued at $1.48 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 29, 10% Owner Jones Charles J. sold 2,000 shares of the business’s stock. A total of $11,220 was realized by selling the stock at an average price of $5.61. This leaves the insider owning 240,000 shares of the company worth $1.48 million. Insiders disposed of 1,481,290 shares of company stock worth roughly $9.11 million over the past 1 year. A total of 9.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BLZE stock. A new stake in Backblaze Inc. shares was purchased by GILDER GAGNON HOWE & CO LLC during the first quarter worth $1,881,000. PERKINS CAPITAL MANAGEMENT INC invested $453,000 in shares of BLZE during the first quarter. In the first quarter, GSA CAPITAL PARTNERS LLP acquired a new stake in Backblaze Inc. valued at approximately $97,000. UBS GROUP AG acquired a new stake in BLZE for approximately $27,000. US BANCORP DE purchased a new stake in BLZE valued at around $1,000 in the second quarter. In total, there are 38 active investors with 27.50% ownership of the company’s stock.
Friday morning saw Backblaze Inc. (NASDAQ: BLZE) opened at $5.58. During the past 12 months, Backblaze Inc. has had a low of $3.82 and a high of $18.16. As of last week, the company has a debt-to-equity ratio of 0.51, a current ratio of 1.60, and a quick ratio of 1.60. The fifty day moving average price for BLZE is $4.75 and a two-hundred day moving average price translates $6.37 for the stock.
The latest earnings results from Backblaze Inc. (NASDAQ: BLZE) was released for Jun, 2022. According to the Software – Infrastructure Company, earnings per share came in at -$0.37, missing analysts’ expectations of -$0.34 by -0.03. This compares to -$0.32 EPS in the same period last year. The net profit margin was -57.50% and return on equity was -54.30% for BLZE. The company reported revenue of $22.05 million for the quarter, compared to $17.32 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 27.32 percent. For the current quarter, analysts expect BLZE to generate $21.83M in revenue.
Backblaze Inc.(BLZE) Company Profile
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 backups, multi-cloud, application development, and ransomware protection. In addition, the company offers Backblaze Computer Backup that automatically backs up data from laptops and desktops for businesses and individuals, which provides a subscription-based Software-as-a-Service and serves use cases, including computer backup, ransomware protection, theft and loss protection, and remote access. It serves the public cloud IaaS storage and Data-Protection-as-a-Service markets. The company was incorporated in 2007 and is headquartered in San Mateo, California.