However, $20 could be a significant technical level if it gets there. It’s still too early to identify a defined range for the stock. Over the next week, BLZE stock backslid somewhat and landed at $26. As the old market saying goes, trees don’t just grow straight to the heavens. 17, the stock peaked at $36.50 before it finally started to cool off. The stock jumped 24% on that first day, and then rose another 12% to $22.31 on the following day. Finally, BLZE stock started trading on the Nasdaq on Nov. In early November, Backblaze planned to price its public offering between $15 and $17.Ībout a week later, the company set an IPO price of $16. The initial enthusiasm has subsided somewhat, though, so let’s see if we can get a technical reading on BLZE stock. Still, as we’ll discover, Backblaze has a unique vision and approach to servicing this high-demand niche.Īs for the IPO itself, it was a huge success from the outset. This created a need for bold, disruptive businesses to provide powerful, accessible cloud storage services.īackblaze filled this void but admittedly, it’s not the only cloud-storage company out there. Royal Bank of Canada grew its stake in shares of Backblaze by 275.9% in the first quarter.In the wake of the Covid-19 pandemic, some businesses have moved their operations online and, more specifically, into the cloud. Steward Partners Investment Advisory LLC acquired a new position in shares of Backblaze in the fourth quarter worth $29,000. Institutional investors have recently modified their holdings of the business. Six equities research analysts have rated the stock with a buy rating, According to data from, Backblaze presently has a consensus rating of "Buy" and a consensus target price of 20.38. Riley reduced their price target on shares of Backblaze from $23.00 to $16.50 in a research report on Friday, May 6th. Lake Street Capital reduced their price target on shares of Backblaze from $21.00 to $13.00 in a research report on Friday, May 6th. Several analysts have recently commented on the stock. will post -1.59 EPS for the current fiscal year. As a group, sell-side analysts forecast that Backblaze, Inc. Backblaze had a negative net margin of 52.11% and a negative return on equity of 62.67%. The company reported -0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of -0.30 by -0.07.
The stock has a fifty day moving average price of 6.02 and a two-hundred day moving average price of 8.02.īackblaze ( NASDAQ:BLZE - Get Rating) last announced its earnings results on Tuesday, August 9th. has a 12-month low of 4.81 and a 12-month high of 36.50. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $235.53 million and a price-to-earnings ratio of -5.02. The stock had a trading volume of 111,200 shares, compared to its average volume of 130,632. NASDAQ BLZE traded down 0.12 on Monday, reaching 7.43.
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