Backblaze (NASDAQ:BLZE) Posts Earnings Results, Misses Expectations By $0.12 EPS

Backblaze (NASDAQ:BLZE - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.12), Zacks reports. Backblaze had a negative net margin of 37.13% and a negative return on equity of 100.67%. The business had revenue of $33.79 million during the quarter, compared to analyst estimates of $33.73 million.

Backblaze Price Performance

Shares of NASDAQ BLZE traded up $0.08 during trading hours on Friday, hitting $6.54. 713,480 shares of the stock were exchanged, compared to its average volume of 350,999. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $290.38 million, a PE ratio of -5.89 and a beta of 0.92. The company's fifty day simple moving average is $6.52 and its two-hundred day simple moving average is $6.57. Backblaze has a 1-year low of $4.91 and a 1-year high of $12.65.

Analyst Ratings Changes

A number of research firms recently issued reports on BLZE. Raymond James lifted their target price on Backblaze from $13.00 to $14.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Lake Street Capital decreased their target price on shares of Backblaze from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, B. Riley reduced their price target on Backblaze from $11.50 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $11.40.

Backblaze 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.