Backblaze (BLZE) Scheduled to Post Earnings on Wednesday

Backblaze (NASDAQ:BLZE) is set to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.15) per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Backblaze (NASDAQ:BLZE) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. The firm had revenue of $28.74 million during the quarter, compared to the consensus estimate of $28.18 million. Backblaze had a negative return on equity of 105.94% and a negative net margin of 57.70%. On average, analysts expect Backblaze to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Backblaze Stock Up 0.1 %

Shares of NASDAQ:BLZE opened at $9.39 on Monday. The business’s 50 day moving average is $10.08 and its 200 day moving average is $8.32. Backblaze has a 12-month low of $3.50 and a 12-month high of $12.65. The stock has a market cap of $386.87 million, a price-to-earnings ratio of -5.69 and a beta of 1.21. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.39.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Oppenheimer upped their target price on shares of Backblaze from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. B. Riley lifted their target price on shares of Backblaze from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Raymond James upped their target price on Backblaze from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, February 16th.

Insider Activity at Backblaze

In other Backblaze news, VP Tina Cessna sold 20,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $9.95, for a total value of $199,000.00. Following the transaction, the vice president now directly owns 121,083 shares in the company, valued at $1,204,775.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Backblaze news, CEO Gleb Budman sold 50,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $10.66, for a total value of $533,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,698,715 shares of the company’s stock, valued at $18,108,301.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Tina Cessna sold 20,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $9.95, for a total value of $199,000.00. Following the transaction, the vice president now directly owns 121,083 shares in the company, valued at approximately $1,204,775.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,429 shares of company stock worth $851,676. 5.20% of the stock is owned by company insiders.

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.