Citizens Reiterates Buy Rating on BLZE
Citizens maintains a buy rating on BLZE with a $14 price target, a 16.96% upside from the current price.
Key Points
- On June 24, 2026, Citizens reiterated its buy rating on BLZE, setting a price target of $14.
- Citizens's $14 price target implies 16.96% upside from Backblaze, Inc.'s ($BLZE) current $11.97 share price.
- BLZE shares traded at $11.66 on Wednesday, with recent insider purchases adding to market interest.
- Institutional investors like BlackRock and Vanguard have shown varied activity in BLZE, with both increases and reductions in holdings.
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On June 24, 2026, Citizens reiterated its buy rating on BLZE, setting a price target of $14. This comes as part of a broader analyst review of the company, with several firms maintaining positive outlooks.
Other Institutional Activity in BLZE
Institutional investors have been active in BLZE recently. BlackRock, Inc. trimmed its holdings by 56,142 shares, ending with 3,683,899 shares valued at approximately $12.7 million. Vanguard Capital Management LLC opened a new position, acquiring 2,344,447 shares worth about $8.1 million. Pillsbury Lake Capital LLC increased its stake by 232,151 shares, bringing its total to 1,961,283 shares valued at $6.8 million. Acadian Asset Management LLC expanded its position by 468,803 shares to 1,638,568 shares, with a total value of $5.6 million. Meanwhile, AWM Investment Company, Inc. reduced its holdings significantly by 1,667,403 shares, now holding 1,400,166 shares valued at approximately $4.8 million.
Backblaze, Inc. Stock Down 16.5%
Shares of BLZE traded near $11.66 on Wednesday. The company's stock movement has been under scrutiny following the latest analyst ratings and insider activities.
$BLZE price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Insider Buying and Selling at Backblaze, Inc.
On May 26, 2026, insiders including Nelson Barbara, Carter Miller Jocelyn, An Evelyn, and Fry Earl each purchased 19,306 shares. Earlier, on May 20, 2026, CEO and Chairperson Gleb Budman sold 13,177 shares at an average price of $7.43.
Analysts Set New Price Targets
On June 24, 2026, Citizens maintained its buy rating on BLZE with a $14 price target. On the same day, Needham also maintained a buy rating with a $14 target. A day earlier, Craig-Hallum upgraded its rating to buy, setting a target of $16. The consensus among analysts remains positive, with most firms recommending a buy.
About BLZE
BLZE operates in a dynamic sector, focusing on innovative solutions and technologies. The company is led by a dedicated management team and is committed to growth and customer satisfaction. As it navigates the competitive landscape, BLZE continues to adapt and evolve its strategies.
Bottom Line
Citizens' reiteration of a buy rating with a $14 target reflects continued confidence in BLZE. Investors and analysts are closely watching insider activities and institutional movements. As always, remember that these analyst ratings and institutional reports are backward-looking and do not necessarily reflect current or future market conditions.
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