Last Updated: 19 Sep 2024
Executive Summary
Backblaze Inc. (BLZE) is a cloud storage platform provider with a market capitalization of $259.03 million. The company has been facing financial challenges, with negative EBITDA and EPS. Despite this, analysts remain optimistic about BLZE's long-term prospects, with a consensus target price of $12.96.
Company Overview
Backblaze provides businesses and consumers with data storage, use, and protection solutions. Headquartered in San Mateo, California, the company has a global reach.
Fundamental Analysis
Revenue: Revenue for the trailing twelve months (TTM) was $115.29 million, with a quarterly growth of 0.272% year-over-year (YOY).
Profitability: BLZE has been unprofitable, with a negative EBITDA of $25.28 million and a profit margin of -0.431%.
Valuation: The company has a price-to-sales ratio (P/S) of 2.247 and a price-to-book ratio (P/B) of 5.74.
Technical Analysis
Trend: The stock price is currently below its 50-day and 200-day moving averages.
Support and Resistance: The 52-week low of $4.80 provides support, while the 52-week high of $12.65 acts as resistance.
Short Term Outlook
In the short term, BLZE's stock price is expected to remain volatile within the current support and resistance levels. The company's financial performance will be a key driver of price movements.
Long Term Outlook
Analysts are bullish on BLZE's long-term prospects. The company's cloud storage solutions are in high demand, and the industry is expected to continue growing. However, the company needs to improve its profitability to sustain its growth.
Analyst Recommendations
The consensus analyst rating for BLZE is "Buy." Two analysts recommend "Strong Buy," five recommend "Buy," and none recommend "Hold," "Sell," or "Strong Sell." The average analyst target price is $12.96.
Disclaimer: This report is for informational purposes only and should not be considered investment advice. Investors should always conduct their own due diligence before making any investment decisions.
