Backblaze Inc (NASDAQ:BLZE) price on Friday, April 11, rose 1.11% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $4.56.
A look at the stock’s price movement, the close in the last trading session was $4.51, moving within a range at $4.38 and $4.595. The beta value (5-Year monthly) was 1.022. Turning to its 52-week performance, $10.10 and $4.07 were the 52-week high and 52-week low respectively. Overall, BLZE moved -8.43% over the past month.
Backblaze Inc’s market cap currently stands at around $247.60 million, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-24.
Analysts have a consensus estimate of 34.24M for the company’s revenue for the quarter, with a low and high estimate of 34.1M and 34.37M respectively. The average forecast suggests up to a 14.24% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 145.03M, representing a 13.64% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that BLZE is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend BLZE as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
BLZE’s current price about -8.98% and -21.99% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 38.27, while 7-day volatility ratio is 12.32% and 6.49% in the 30-day chart. Further, Backblaze Inc (BLZE) has a beta value of 1.00, and an average true range (ATR) of 0.39. Analysts have given the company’s stock an average 52-week price target of $9.5, forecast between a low of $8 and high of $11. Looking at the price targets, the low is -75.44% off current price level while to achieve the yearly target high, price needs to move -141.23%. Nonetheless, investors will most likely welcome a -108.33% jump to $9.5 which is the analysts’ median price.
If we refocus on Backblaze Inc (NASDAQ:BLZE), historical trading data shows that trading volumes averaged 0.48 over the past 10 days and 456.75K over the past 3 months. The company’s latest data on shares outstanding shows there are 53.38 million shares.
The 28.68% of Backblaze Inc’s shares are in the hands of company insiders while institutional holders own 42.91% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 0.59 million on 2025-03-14, giving us a short ratio of 0.89. The data shows that as of 2025-03-14 short interest in Backblaze Inc (BLZE) stood at 111.99999999999999 of shares outstanding, with shares short rising to 0.47 million registered in 2025-02-14. Current price change has pushed the stock -24.25% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BLZE stock continues to rise going into the next quarter.
