Backblaze (NASDAQ:BLZE) Releases Earnings Results, Misses Expectations By $0.12 EPS

Backblaze (NASDAQ:BLZE) announced its quarterly earnings data on Tuesday. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.12), Zacks reports. Backblaze had a negative net margin of 37.13% and a negative return on equity of 100.67%.

Backblaze Stock Performance

Shares of NASDAQ BLZE traded down $0.75 during trading on Tuesday, reaching $6.33. 809,324 shares of the company traded hands, compared to its average volume of 363,739. Backblaze has a 12-month low of $4.91 and a 12-month high of $12.65. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The stock has a market cap of $281.05 million, a P/E ratio of -5.70 and a beta of 0.92. The firm’s fifty day simple moving average is $6.52 and its 200 day simple moving average is $6.57.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BLZE shares. Raymond James raised their price objective on Backblaze from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. B. Riley decreased their price objective on shares of Backblaze from $11.50 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th.

Backblaze Company Profile

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.