BackblazeBLZE
BLZE
About: Backblaze Inc provides cloud storage services. The company offers services such as Backblaze B2 Cloud Storage which enables customers to store data, developers to build applications, and partners to expand their use cases. It is offered as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases including backups, multi-cloud, application development, and ransomware protection and Backblaze Computer Backup automatically backs up data from laptops and desktops for businesses and individuals. Geographically, it derives a majority of revenue from the United States and the rest from the United Kingdom, Canada, and other regions.
Employees: 381
0
Funds holding %
of 6,815 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
62% more first-time investments, than exits
New positions opened: 21 | Existing positions closed: 13
29% more repeat investments, than reductions
Existing positions increased: 36 | Existing positions reduced: 28
8% more capital invested
Capital invested by funds: $97.4M [Q2] → $105M (+$7.41M) [Q3]
7% more funds holding
Funds holding: 95 [Q2] → 102 (+7) [Q3]
0.11% more ownership
Funds ownership: 38.11% [Q2] → 38.22% (+0.11%) [Q3]
0% more funds holding in top 10
Funds holding in top 10: 1 [Q2] → 1 (+0) [Q3]
62% less call options, than puts
Call options by funds: $275K | Put options by funds: $724K
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$11
81%
upside
Avg. target
$12.50
106%
upside
High target
$14
131%
upside
2 analyst ratings
2 positive
100%
0 neutral
0%
0 negative
0%
Raymond James Simon Leopold 57% 1-year accuracy 12 / 21 met price target | 131%upside $14 | Outperform Maintained | 8 Nov 2024 |
Craig-Hallum Chad Bennett 33% 1-year accuracy 3 / 9 met price target | 81%upside $11 | Buy Maintained | 21 Oct 2024 |
Financial journalist opinion
Neutral
Business Wire
1 week ago
Backblaze Launches New Data Center in Canada, Now Open for Business
SAN MATEO, Calif.--(BUSINESS WIRE)---- $blze #BigData--Backblaze, Inc. (Nasdaq: BLZE), today announced the opening of a new data region in Canada. Located in Toronto, Ontario.
Positive
Seeking Alpha
4 weeks ago
Backblaze: Great Value Buy Amid Sales Shake-Up
I'm reiterating my buy rating on Backblaze, as the company reported an acceleration in revenue growth in Q3. Backblaze has been focused on upgrading its go-to-market process, bringing on a new Chief Revenue Officer to lead its charge upmarket. The company's layoffs of 12% of its headcount have also led to significant adjusted EBITDA margin expansion.
Neutral
Business Wire
1 month ago
Backblaze Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
SAN MATEO, Calif.--(BUSINESS WIRE)--Backblaze, Inc. (Nasdaq: BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced that it has granted equity awards on November 29, 2024 as their new hire awards and a material inducement to employment by the Company of its recently hired Chief Financial Officer, Marc Suidan, and Chief Revenue Officer, Jason Wakeam. Backblaze granted Suidan and Wakeam inducement awards consisting of 300,000 and 112,740.
Neutral
Business Wire
1 month ago
Backblaze, Philadelphia Eagles, and CHESA Showcase Speed and Security in NFL Media Production at Sports Video Group Summit
SAN MATEO, Calif.--(BUSINESS WIRE)---- $blze #Cloud--Backblaze, Inc. (Nasdaq: BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced it will present a game-changing media production acceleration case study with the Philadelphia Eagles at the Sports Video Group (SVG) Summit Cloud Production Workshop on Dec. 16 in New York City. In a session entitled “Protecting QBs and PBs: Moving from tape to cloud for real-time production access and resiliency,” Stacy.
Neutral
Business Wire
1 month ago
Backblaze Announces Full Exercise of Over-Allotment Option
SAN MATEO, Calif.--(BUSINESS WIRE)---- $BLZE #craighallum--Backblaze, Inc. (Nasdaq: BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced the underwriters of its recently completed upsized public offering of shares of its Class A common stock (the “Common Stock”), which closed on November 22, 2024, have exercised in full their option to purchase an additional 937,500 shares of Common Stock. The additional shares of Common Stock were sold at a price to the pu.
Neutral
Business Wire
1 month ago
Backblaze Announces Pricing of Upsized $35 Million Follow-On Offering
SAN MATEO, Calif.--(BUSINESS WIRE)--Backblaze, Inc. (Nasdaq: BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced the pricing of its upsized underwritten public offering of 6,250,000 shares of its Class A common stock (the “Common Stock”) at a price to the public of $5.60 per share. Closing of the offering is expected to occur on November 22, 2024, subject to customary closing conditions. In addition, Backblaze has granted the underwr.
Neutral
Business Wire
1 month ago
Backblaze Launches Proposed Follow-On Offering
SAN MATEO, Calif.--(BUSINESS WIRE)--Backblaze, Inc. (Nasdaq: BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced the launch of a proposed follow-on public offering of $30,000,000 of shares of its Class A common stock (the “Common Stock”). In addition, Backblaze expects to grant the underwriters a 30-day option to purchase up to an additional $4,500,000 of shares of Common Stock from Backblaze at the public offering price less the und.
Neutral
Seeking Alpha
2 months ago
Backblaze, Inc. (BLZE) Q3 2024 Earnings Call Transcript
Backblaze, Inc. (NASDAQ:BLZE ) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET Company Participants Mimi Kong - Director, Investor Relations & Corporate Development Gleb Budman - Chief Executive Officer & Chairperson Marc Suidan - Chief Financial Officer Conference Call Participants Jeff Van Rhee - Craig-Hallum Capital Group Ittai Kidron - Oppenheimer & Co. Eric Martinuzzi - Lake Street Capital Markets Ethan Widell - B. Riley Securities Operator Good day, and welcome to the Backblaze Third Quarter 2024 Earnings Call.
Negative
Zacks Investment Research
2 months ago
Backblaze, Inc. (BLZE) Reports Q3 Loss, Tops Revenue Estimates
Backblaze, Inc. (BLZE) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.21 per share a year ago.
Neutral
Business Wire
2 months ago
Backblaze Announces Record Adjusted EBITDA Margin as Part of Third Quarter 2024 Financial Results
SAN MATEO, Calif.--(BUSINESS WIRE)---- $BLZE #CloudInfrastructure--The hot cloud storage alternative to traditional cloud providers today announced results for its third quarter ended September 30, 2024.
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