Lake Street Reiterates Buy Rating on Backblaze, Inc.
Lake Street maintains its buy rating on Backblaze, Inc. with a target price of $14, a 3.85% downside from the current price.
Key Points
- Lake Street maintained its buy rating on Backblaze, Inc. (BLZE) with a $14 price target as of June 24, 2026.
- Lake Street's $14 price target implies 3.85% downside from Backblaze, Inc.'s ($BLZE) current $14.56 share price.
- Shares of NasdaqGM:BLZE traded near $11.97 on Friday, with a market cap of about $805.4 million and a forward P/E of 87.0.
- Insiders at Backblaze, including CEO Gleb Budman, have been active, with recent transactions in May 2026.
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Lake Street has reiterated its buy rating on Backblaze, Inc. (NasdaqGM:BLZE) with a price target of $14, according to analyst Eric Martinuzzi. This announcement came on June 24, 2026, as the stock traded around $11.97 on Friday.
Backblaze, Inc. Stock Up 1.6%
Backblaze, Inc. is a company in the technology sector, specializing in software infrastructure. As of Friday, shares were trading near $11.97. The company has a market cap of approximately $805.4 million and a forward P/E ratio of 87.0, indicating investor expectations for future earnings. The stock's beta is 1.723, suggesting it is more volatile than the market. Over the past year, the stock has ranged from $3.26 to $14.63, with a 50-day moving average of $7.03 and a 200-day moving average of $6.18.
$BLZE price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Backblaze reported revenue of about $149.9 million with a growth rate of 11.7%. However, the company is not yet profitable, posting a negative net margin of approximately 14.97% and a return on equity of -27.63%. The next earnings report is expected on August 6, 2026.
Insider Buying and Selling at Backblaze, Inc.
Recent insider activity at Backblaze includes several purchases on May 26, 2026, where insiders such as Nelson Barbara, Carter Miller Jocelyn, An Evelyn, and Fry Earl each acquired 19,306 shares. Additionally, CEO Gleb Budman sold 18,000 shares and 13,177 shares on May 20, 2026, at an average price of $7.43.
Analysts Set New Price Targets
On June 24, 2026, Lake Street maintained its buy rating for Backblaze with a $14 target. Other firms like B. Riley Securities and Citizens also maintained buy ratings, with targets of $16 and $14, respectively. Craig-Hallum upgraded the stock to a buy with a $16 target on June 23, 2026. The consensus among analysts is a strong buy, with a mean target price of $13.7 based on seven opinions.
About Backblaze, Inc.
Backblaze, Inc. is a cloud storage service provider headquartered in San Francisco, California. Founded in 2007, the company offers cloud services that allow businesses and consumers to store, use, and protect data. Its services include B2 Cloud Storage for data storage and application development, as well as backup solutions for computers. Backblaze serves a wide range of clients, including individuals, developers, small businesses, and large enterprises across various industries.
Bottom Line
Backblaze, Inc. is attracting attention with Lake Street's reiterated buy rating and a $14 target price. Investors are closely watching this stock, which has shown significant volatility over the past year. Insider transactions and analyst ratings further highlight the interest in Backblaze's future performance.
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