Backblaze (NASDAQ:BLZE – Get Rating) is set to post its quarterly earnings results after the market closes on Wednesday, February 15th. Analysts expect Backblaze to post earnings of ($0.28) per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.
Backblaze (NASDAQ:BLZE – Get Rating) last released its earnings results on Wednesday, November 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The firm had revenue of $22.05 million during the quarter, compared to analyst estimates of $21.95 million. Backblaze had a negative net margin of 57.47% and a negative return on equity of 54.31%. On average, analysts expect Backblaze to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.
Backblaze Stock Performance
NASDAQ BLZE opened at $6.55 on Wednesday. The company has a market cap of $213.53 million, a P/E ratio of -4.20 and a beta of 0.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a 50-day moving average of $6.24 and a two-hundred day moving average of $5.75. Backblaze has a 1-year low of $3.82 and a 1-year high of $15.89.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Oppenheimer dropped their target price on Backblaze to $8.50 in a research report on Tuesday, November 15th. B. Riley decreased their price objective on Backblaze from $11.00 to $8.50 in a research note on Thursday, November 10th. Finally, Raymond James decreased their price objective on Backblaze from $14.50 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, November 10th.
Hedge Funds Weigh In On Backblaze
Several hedge funds and other institutional investors have recently made changes to their positions in BLZE. Royal Bank of Canada lifted its stake in Backblaze by 275.9% during the first quarter. Royal Bank of Canada now owns 2,819 shares of the company’s stock worth $30,000 after purchasing an additional 2,069 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in Backblaze during the first quarter worth approximately $117,000. Blair William & Co. IL purchased a new stake in Backblaze during the first quarter worth approximately $140,000. State Street Corp purchased a new stake in Backblaze during the first quarter worth approximately $261,000. Finally, Renaissance Technologies LLC lifted its stake in Backblaze by 115.2% during the third quarter. Renaissance Technologies LLC now owns 93,200 shares of the company’s stock worth $463,000 after purchasing an additional 49,900 shares during the last quarter. Hedge funds and other institutional investors own 12.70% of the company’s stock.
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.