Backblaze (BLZE) Stock Price, News & Analysis

Company Overview

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 public, hybrid, and multi-cloud data storage; application development and DevOps; content delivery and edge computing; security and ransomware protection; media management; backup, archive, and tape replacement; repository for analytics, artificial intelligence and machine learning; and Internet of Things. 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.

Key Stats

• Today's Range: $6.22 to $6.59
• 50-Day Range: $5.63 to $7.99
• 52-Week Range: $4.91 to $12.65
• Volume: 363,665 shs
• Average Volume: 365,415 shs
• Market Capitalization: $285.05 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $11.50
• Consensus Rating: Buy

Backblaze Stock Analysis - MarketRank™

Backblaze scored higher than 66% of companies evaluated by MarketBeat, and ranked 290th out of 652 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.5 / 5
• Analyst Rating: Buy

Consensus Rating

Backblaze has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 4 buy ratings, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

Backblaze has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Backblaze are expected to grow in the coming year, from ($1.02) to ($0.72) per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Backblaze is -5.78, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Backblaze is -5.78, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Backblaze has a P/B Ratio of 5.58. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

2.31% of the float of Backblaze has been sold short.

Short Interest Ratio / Days to Cover

Backblaze has a short interest ratio ("days to cover") of 2.3, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Backblaze has recently decreased by 11.92%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Backblaze does not currently pay a dividend.

Dividend Growth

Backblaze does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

2.31% of the float of Backblaze has been sold short.

Short Interest Ratio / Days to Cover

Backblaze has a short interest ratio ("days to cover") of 2.3, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Backblaze has recently decreased by 11.92%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 2.9 / 5
• News Sentiment: 1.13

News Sentiment

Backblaze has a news sentiment score of 1.13. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.65 average news sentiment score of Computer and Technology companies.

News Coverage This Week

MarketBeat has tracked 5 news articles for Backblaze this week, compared to 2 articles on an average week.

Search Interest

Only 4 people have searched for BLZE on MarketBeat in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Backblaze insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $123,232.00 in company stock.

Percentage Held by Insiders

Only 5.20% of the stock of Backblaze is held by insiders.

Percentage Held by Institutions

54.03% of the stock of Backblaze is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

BLZE Stock Analysis - Frequently Asked Questions

How have BLZE shares performed this year?

Backblaze's stock was trading at $7.59 at the beginning of 2024. Since then, BLZE stock has decreased by 15.4% and is now trading at $6.42.
View the best growth stocks for 2024 here.

How were Backblaze's earnings last quarter?

Backblaze, Inc. (NASDAQ:BLZE) released its earnings results on Thursday, November, 7th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.11) by $0.18. The firm had revenue of $32.59 million for the quarter, compared to the consensus estimate of $32.54 million. Backblaze had a negative trailing twelve-month return on equity of 100.67% and a negative net margin of 37.13%.

When did Backblaze IPO?

Backblaze (BLZE) raised $101 million in an initial public offering (IPO) on Thursday, November 11th 2021. The company issued 6,300,000 shares at a price of $15.00-$17.00 per share. Oppenheimer & Co., William Blair and Raymond James served as the underwriters for the IPO and JMP Securities, Lake Street and B. Riley Securities were co-managers.

Who are Backblaze's major shareholders?

Top institutional investors of Backblaze include Whetstone Capital Advisors LLC (3.70%), Geode Capital Management LLC (2.02%), State Street Corp (1.41%) and Connor Clark & Lunn Investment Management Ltd. (0.79%). Insiders that own company stock include Tmt Investments Plc, Gleb Budman, Brian K Wilson, Timothy M Nufire, Charles J Jones, Kwok Hang Ng, Francis P Patchel, Tina Cessna and Barbara H Nelson.
View institutional ownership trends.

How do I buy shares of Backblaze?

Shares of BLZE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Backblaze own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Backblaze investors own include Humana (HUM), American Water Works (AWK), Voyager Therapeutics (VYGR), Waste Connections (WCN), TotalEnergies (TTE), The RMR Group (RMR) and NVIDIA (NVDA).

Company Calendar

• Last Earnings: 11/07/2024
• Today: 12/21/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Computer and Technology
• Industry: Prepackaged software
• Sub-Industry: Computer Software
• Current Symbol: NASDAQ:BLZE
• CUSIP: N/A
• CIK: 1462056
• Web: www.backblaze.com
• Phone: 650-352-3738
• Fax: 650-472-8095
• Employees: 381
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $11.50
• High Stock Price Target: $14.00
• Low Stock Price Target: $10.00
• Potential Upside/Downside: +79.1%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 4 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($1.11)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-59,710,000.00
• Net Margins: -37.13%
• Pretax Margin: -37.82%
• Return on Equity: -100.67%
• Return on Assets: -34.41%

Debt

• Debt-to-Equity Ratio: 0.39
• Current Ratio: 0.54
• Quick Ratio: 0.54

Sales & Book Value

• Annual Sales: $122.58 million
• Price / Sales: 2.33
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $1.15 per share
• Price / Book: 5.58

Miscellaneous

• Outstanding Shares: 44,400,000
• Free Float: 42,091,000
• Market Cap: $285.05 million
• Optionable: Optionable
• Beta: 0.91