Backblaze (BLZE) to Release Earnings on Wednesday

Backblaze (NASDAQ:BLZE) will be posting its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect Backblaze to post earnings of ($0.15) per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

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

Backblaze Price Performance

Shares of NASDAQ:BLZE opened at $9.31 on Wednesday. The company’s fifty day moving average price is $10.15 and its 200-day moving average price is $8.24. The firm has a market capitalization of $383.57 million, a price-to-earnings ratio of -5.64 and a beta of 1.20. Backblaze has a one year low of $3.50 and a one year high of $12.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.67 and a quick ratio of 0.67.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Oppenheimer increased their price target on shares of Backblaze from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. B. Riley increased their price target on shares of Backblaze from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Raymond James increased their price target on shares of Backblaze from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, February 16th.

Insiders Place Their Bets

In other Backblaze news, CEO Gleb Budman sold 50,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $10.66, for a total value of $533,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,698,715 shares in the company, valued at approximately $18,108,301.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Francis P. Patchel sold 3,434 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $9.84, for a total value of $33,790.56. Following the completion of the transaction, the chief financial officer now directly owns 178,575 shares in the company, valued at approximately $1,757,178. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gleb Budman sold 50,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $10.66, for a total transaction of $533,000.00. Following the completion of the transaction, the chief executive officer now owns 1,698,715 shares of the company’s stock, valued at $18,108,301.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,429 shares of company stock worth $851,676. 5.20% of the stock is currently owned by corporate insiders.

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.