Backblaze, Inc. (NASDAQ:BLZE – Get Free Report) VP Tina Cessna sold 8,874 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $6.42, for a total transaction of $56,971.08. Following the completion of the transaction, the vice president now owns 144,566 shares in the company, valued at approximately $928,113.72. The trade was a 5.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Backblaze Stock Up 0.6 %
BLZE opened at $6.49 on Monday. The stock has a market capitalization of $288.16 million, a price-to-earnings ratio of -5.85 and a beta of 0.99. The firm has a 50 day moving average price of $6.78 and a 200-day moving average price of $6.42. Backblaze, Inc. has a twelve month low of $4.91 and a twelve month high of $12.65. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39.
Backblaze (NASDAQ:BLZE – Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.18). The company had revenue of $32.59 million for the quarter, compared to analysts’ expectations of $32.54 million. Backblaze had a negative net margin of 37.13% and a negative return on equity of 100.67%. During the same quarter in the prior year, the firm posted ($0.43) earnings per share. Equities research analysts forecast that Backblaze, Inc. will post -1.02 earnings per share for the current year.
Institutional Inflows and Outflows
Analysts Set New Price Targets
Several research analysts have recently issued reports on BLZE shares. Oppenheimer dropped their target price on shares of Backblaze from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Craig Hallum increased their target price on Backblaze from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Raymond James lifted their target price on Backblaze from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, November 8th.
Get Our Latest Stock Analysis on BLZE
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.
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