B. Riley Securities Maintains Buy Rating on BLZE
B. Riley Securities reiterated its buy rating for BLZE with a $16 target, a 33.67% upside from the current price.
Key Points
- B. Riley Securities reiterated its buy rating on BLZE with a $16 price target on June 24, 2026.
- B. Riley Securities's $16 price target implies 33.67% upside from Backblaze, Inc.'s ($BLZE) current $11.97 share price.
- Shares of BLZE traded at $11.66 on Wednesday, reflecting recent analyst interest.
- BlackRock reduced its position in BLZE by 56,142 shares, while Vanguard Capital opened a new position.
Important disclosure: Podchat is not a registered investment adviser, broker-dealer, or financial planner. This article is for informational and educational purposes only and is not a recommendation to buy, sell, or hold any security. Content may be generated by automated systems using public filings, market data, and third-party sources, and may contain errors or omissions. Investing involves risk, including possible loss of principal. Past performance, insider activity, analyst ratings, price targets, sentiment scores, and hypothetical or backtested results are not guarantees of future performance. Please do your own research and consult a qualified professional before making investment decisions.
B. Riley Securities has reiterated its buy rating for BLZE, setting a price target of $16. This announcement came on June 24, 2026, as the stock traded at $11.66 on Wednesday. Analyst Zach Cummins from B. Riley Securities continues to see potential upside for the company.
B. Riley Securities vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
Other Institutional Activity in BLZE
Several institutional investors have made notable changes to their positions in BLZE. BlackRock, Inc. reduced its holdings by 56,142 shares, bringing its total to about 3.68 million shares valued at approximately $12.7 million. Vanguard Capital Management LLC initiated a new position, acquiring roughly 2.34 million shares worth about $8.1 million. Pillsbury Lake Capital LLC increased its stake by 232,151 shares, totaling around 1.96 million shares valued at $6.8 million, marking a 13.4% increase. Acadian Asset Management LLC also boosted its position by 468,803 shares, a 40.1% increase, ending with approximately 1.64 million shares valued at $5.6 million.
Backblaze, Inc. Stock Down 16.5%
Shares of BLZE traded near $11.66 on Wednesday. The stock has seen varied interest from analysts and investors alike, driven by its recent performance and potential growth prospects.
$BLZE price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Insider Buying and Selling at Backblaze, Inc.
There has been insider activity at BLZE recently. On May 26, 2026, insiders including Nelson Barbara, Carter Miller Jocelyn, An Evelyn, and Fry Earl each purchased 19,306 shares. On the other hand, CEO and Chairperson Gleb Budman sold 18,000 shares and an additional 13,177 shares on May 20, 2026, at an average price of $7.43 per share.
Analysts Set New Price Targets
On June 24, 2026, B. Riley Securities maintained its buy rating on BLZE with a $16 price target. The same day, both Citizens and Needham also maintained their buy ratings, each with a $14 price target. Craig-Hallum upgraded its rating to buy with a $16 target on June 23, 2026. The consensus among analysts remains positive, with a general buy recommendation and an average price target reflecting potential upside.
Bottom Line
B. Riley Securities' reiterated buy rating and $16 target suggest confidence in BLZE's future performance. The stock's recent trading activity and institutional interest highlight its attractiveness to investors. As always, it's important to remember that analyst ratings and 13F filings are backward-looking and may not reflect current market conditions.
Get Backblaze, Inc. alerts
New 13F filings, insider trades, and analyst moves on $BLZE, sent to your inbox. Free, and you can unsubscribe anytime.
This instant news alert was generated by automated narrative technology and financial data from Podchat and public regulatory filings. It is for informational purposes only and is not financial advice.