Backblaze (BLZE) to Release Earnings on Thursday

Backblaze (NASDAQ:BLZE) is anticipated to announce its earnings results after the market closes on Thursday, February 20th. Analysts expect the company to announce earnings of ($0.09) per share and revenue of $33.73 million for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Backblaze Trading Up 2.9 %

Shares of BLZE stock opened at $7.46 on Wednesday. The firm has a market capitalization of $331.36 million, a P/E ratio of -6.72 and a beta of 0.92. Backblaze has a twelve month low of $4.91 and a twelve month high of $12.65. The stock’s fifty day simple moving average is $6.48 and its 200 day simple moving average is $6.50. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39.

Wall Street Analyst Weigh In

BLZE has been the topic of several recent research reports. B. Riley cut their target price on Backblaze from $11.50 to $11.00 and set a “buy” rating on the stock in a report on Tuesday. Raymond James lifted their target price on Backblaze from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, November 8th.

Insiders Place Their Bets

In other news, VP Tina Cessna sold 8,874 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $6.42, for a total value of $56,971.08. Following the transaction, the vice president now directly owns 144,566 shares of the company’s stock, valued at $928,113.72. The trade was a 5.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gleb Budman sold 10,321 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $6.42, for a total value of $66,260.82. Following the completion of the transaction, the chief executive officer now directly owns 1,864,646 shares in the company, valued at $11,971,027.32. This represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.

About Backblaze

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.