Backblaze (BLZE) Scheduled to Post 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. Persons interested in listening to the company’s earnings conference call can do so using this link.

Backblaze (NASDAQ:BLZE) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. Backblaze had a negative net margin of 57.70% and a negative return on equity of 105.94%. The business had revenue of $28.74 million for the quarter, compared to analysts’ expectations of $28.18 million. 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 stock has a market capitalization of $386.87 million, a price-to-earnings ratio of -5.69 and a beta of 1.21. Backblaze has a 52 week low of $3.50 and a 52 week high of $12.65. The firm has a 50-day moving average price of $10.08 and a 200 day moving average price of $8.32. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.39.

Insider Buying and Selling at Backblaze

In related news, CFO Francis P. Patchel sold 2,396 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $10.85, for a total value of $25,996.60. Following the sale, the chief financial officer now owns 184,165 shares of the company’s stock, valued at approximately $1,998,190.25. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Backblaze news, CFO Francis P. Patchel sold 2,396 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $10.85, for a total transaction of $25,996.60. Following the sale, the chief financial officer now directly owns 184,165 shares of the company’s stock, valued at approximately $1,998,190.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Francis P. Patchel sold 3,434 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $9.84, for a total transaction of $33,790.56. Following the completion of the transaction, the chief financial officer now directly owns 178,575 shares of the company’s stock, valued at approximately $1,757,178. The disclosure for this sale can be found here. Insiders have sold 81,429 shares of company stock valued at $851,676 over the last quarter. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.