Backblaze (BLZE) Set to Announce Quarterly Earnings on Thursday

Backblaze (NASDAQ:BLZE - Get Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.11) per share for the quarter. Backblaze has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Persons interested in registering for the company's earnings conference call can do so using this link.

Backblaze (NASDAQ:BLZE - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.13). The firm had revenue of $31.29 million during the quarter, compared to analyst estimates of $30.93 million. Backblaze had a negative net margin of 42.34% and a negative return on equity of 104.71%. During the same period in the previous year, the company posted ($0.38) EPS. On average, analysts expect Backblaze to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Backblaze Stock Performance

NASDAQ:BLZE traded down $0.40 during mid-day trading on Thursday, hitting $7.22. 201,812 shares of the stock were exchanged, compared to its average volume of 341,979. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.61 and a current ratio of 0.61. The firm's 50-day simple moving average is $6.48 and its 200 day simple moving average is $6.74. Backblaze has a fifty-two week low of $4.91 and a fifty-two week high of $12.65. The stock has a market capitalization of $309.74 million, a price-to-earnings ratio of -5.71 and a beta of 1.02.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Craig Hallum raised their target price on shares of Backblaze from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Oppenheimer lowered their price objective on Backblaze from $11.00 to $10.00 and set an "outperform" rating on the stock in a research note on Friday, August 9th.

Insider Transactions at Backblaze

In other Backblaze news, Director Barbara H. Nelson sold 16,000 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.79, for a total transaction of $108,640.00. Following the completion of the transaction, the director now directly owns 62,346 shares in the company, valued at $423,329.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Barbara H. Nelson sold 16,000 shares of Backblaze stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.79, for a total value of $108,640.00. Following the transaction, the director now owns 62,346 shares in the company, valued at approximately $423,329.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Francis P. Patchel sold 13,107 shares of the business's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $6.55, for a total value of $85,850.85. Following the transaction, the chief financial officer now directly owns 159,116 shares of the company's stock, valued at $1,042,209.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,483 shares of company stock valued at $311,530. Company insiders own 5.20% of the company's stock.

About Backblaze

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.