B. Riley Securities Reiterates Buy Rating on Backblaze, Inc.
B. Riley Securities maintains its Buy rating on Backblaze, Inc., setting a $16 price target, a 19.23% upside from the current price.
Key Points
- B. Riley Securities reiterated its Buy rating on Backblaze, Inc. (BLZE) with a price target of $16 as of June 24, 2026.
- B. Riley Securities's $16 price target implies 19.23% upside from Backblaze, Inc.'s ($BLZE) current $13.42 share price.
- Backblaze, Inc. traded around $11.97 on Friday, with a market cap of approximately $805.4 million and a forward P/E of 87.01.
- Recent insider activity includes purchases by several insiders and sales by CEO Gleb Budman, while analysts maintain strong buy ratings.
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On June 24, 2026, B. Riley Securities reiterated its Buy rating on Backblaze, Inc. (NasdaqGM: BLZE), setting a price target of $16. The stock traded around $11.97 on Friday.
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Other Institutional Activity in Backblaze, Inc.
Several institutional investors have also been active in Backblaze. BlackRock, Inc. reduced its holdings by 56,142 shares, bringing its total to 3,683,899 shares valued at about $12.7 million, a 1.5% decrease. Vanguard Capital Management LLC opened a new position with 2,344,447 shares worth approximately $8.1 million. Pillsbury Lake Capital LLC increased its stake by 232,151 shares, now holding 1,961,283 shares valued at $6.8 million, marking a 13.4% increase. Acadian Asset Management LLC also boosted its position by 468,803 shares, ending with 1,638,568 shares valued at $5.6 million, a 40.1% increase. Meanwhile, AWM Investment Company, Inc. reduced its stake by 1,667,403 shares to 1,400,166 shares, a significant 54.4% decrease.
Backblaze, Inc. Stock Down 6.4%
Shares of Backblaze, Inc. traded near $11.97 on Friday. The company has a market capitalization of approximately $805.4 million and a forward P/E ratio of 87.01. With a beta of 1.723, the stock has experienced a 52-week low of $3.26 and a high of $14.62. Its 50-day moving average stands at $7.03, while the 200-day moving average is $6.18. Backblaze's current ratio is 1.048, with a quick ratio of 0.897 and a debt-to-equity ratio of 73.667.
$BLZE price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Backblaze reported revenue of $149.9 million, reflecting a growth rate of 11.7%. The company, however, posted a net margin of -14.968% and a return on equity of -27.627%. The next earnings report is expected on August 6, 2026.
Insider Buying and Selling at Backblaze, Inc.
Recent insider activity at Backblaze includes purchases by insiders Nelson Barbara, Carter Miller Jocelyn, An Evelyn, and Fry Earl, each acquiring 19,306 shares on May 26, 2026. On May 20, 2026, CEO and Chairperson Gleb Budman sold 18,000 shares and an additional 13,177 shares at an average price of $7.43.
Analysts Set New Price Targets
On June 24, 2026, several firms maintained their Buy ratings on Backblaze. Lake Street, B. Riley Securities, Citizens, and Needham all reiterated their Buy ratings with price targets of $14 and $16. Craig-Hallum upgraded its rating to Buy with a $16 target on June 23, 2026. The consensus rating remains a strong buy, with a mean target price of $13.7.
About Backblaze, Inc.
Backblaze, Inc. provides cloud storage solutions for businesses and consumers, offering services like B2 Cloud Storage for data storage and application development. Based in San Francisco, California, and led by CEO Mr. Gleb Budman, the company supports a wide range of industries, including media and gaming, with a workforce of around 320 employees.
Bottom Line
Backblaze, Inc. continues to attract attention from analysts and institutional investors, with B. Riley Securities maintaining a Buy rating and a $16 price target. The stock's recent performance, coupled with insider transactions, highlights ongoing interest in the company's growth prospects. Investors should remember that analyst ratings and institutional filings reflect past data and may not represent the current market sentiment.
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