During the last session, Backblaze Inc (NASDAQ:BLZE)’s traded shares were 1.35 million, with the beta value of the company hitting 0.94. At the end of the trading day, the stock’s price was $5.75, reflecting an intraday loss of -7.75% or -$0.48. The 52-week high for the BLZE share is $12.65, that puts it down -120.0 from that peak though still a striking 14.61% gain since the share price plummeted to a 52-week low of $4.91. The company’s market capitalization is $255.18M, and the average intraday trading volume over the past 10 days was 0.34 million shares, and the average trade volume was 238.74K shares over the past three months.
Backblaze Inc (BLZE) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.17. BLZE has a Sell rating from 0 analyst(s) out of 2 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.09.
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Backblaze Inc (NASDAQ:BLZE) trade information
Backblaze Inc (BLZE) registered a -7.75% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -7.75% in intraday trading to $5.75, hitting a weekly high. The stock’s 5-day price performance is -12.39%, and it has moved by -20.62% in 30 days. Based on these gigs, the overall price performance for the year is -10.48%. The short interest in Backblaze Inc (NASDAQ:BLZE) is 1.07 million shares and it means that shorts have 6.08 day(s) to cover.
The consensus price target of analysts on Wall Street is $10.5, which implies an increase of 45.24% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $10 and $11 respectively. As a result, BLZE is trading at a discount of -91.3% off the target high and -73.91% off the low.
Backblaze Inc (BLZE) estimates and forecasts
Statistics show that Backblaze Inc has outperformed its competitors in share price, compared to the industry in which it operates. Backblaze Inc (BLZE) shares have gone down -15.23% during the last six months, with a year-to-date growth rate more than the industry average at 49.41% against 24.90. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 40.00% this quarter and then jump 44.05% in the quarter after that. In the rating firms’ projections, revenue will increase 25.02% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 33.73M as predicted by 7 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to 34.26M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 28.74M and 29.97M respectively. In this case, analysts expect current quarter sales to grow by 17.36% and then jump by 14.33% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -166.45%. While earnings are projected to return 48.17% in 2024.
BLZE Dividends
Backblaze Inc is due to release its next quarterly earnings in December. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Backblaze Inc (NASDAQ:BLZE)’s Major holders
Backblaze Inc insiders own 22.37% of total outstanding shares while institutional holders control 37.48%, with the float percentage being 48.27%. BLACKROCK INC. is the largest shareholder of the company, while 137.0 institutions own stock in it. As of 2024-06-30, the company held over 2.6 million shares (or 6.4638% of all shares), a total value of $16.02 million in shares.
The next largest institutional holding, with 1.77 million shares, is of VANGUARD GROUP INC’s that is approximately 4.3893% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $10.88 million.
Also, the Mutual Funds coming in first place with the largest holdings of Backblaze Inc (BLZE) shares are iShares Russell 2000 ETF and First Eagle Small Opportunity Fund. Data provided on Sep 30, 2024 indicates that iShares Russell 2000 ETF owns about 1.07 shares. This amounts to just over 2.41 percent of the company’s overall shares, with a $6.01 million market value. The same data shows that the other fund manager holds slightly less at 1.01, or about 2.28% of the stock, which is worth about $5.69 million.
