Lake Street Reiterates Buy Rating on BLZE
Lake Street maintains its buy rating on BLZE, setting a price target of $14, a 16.96% upside from the current price.
Key Points
- On June 24, 2026, Lake Street reiterated its buy rating on BLZE with a $14 price target.
- Lake Street's $14 price target implies 16.96% upside from Backblaze, Inc.'s ($BLZE) current $11.97 share price.
- Shares of BLZE traded at $11.66 on Wednesday, reflecting investor sentiment.
- Insider transactions included both purchases and sales, with CEO Gleb Budman selling shares on May 20, 2026.
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On June 24, 2026, Lake Street reiterated its buy rating on BLZE, setting a price target of $14. Analyst Eric Martinuzzi maintained the bullish outlook on the company. This reaffirmation comes as BLZE shares traded at $11.66 on Wednesday.
Other Institutional Activity in BLZE
Several other institutional investors have also been active in BLZE. BlackRock, Inc. trimmed its holdings by 56,142 shares, now holding 3,683,899 shares valued at about $12.71 million. Vanguard Capital Management LLC opened a new position with 2,344,447 shares worth approximately $8.09 million. Pillsbury Lake Capital LLC increased its stake by 232,151 shares to a total of 1,961,283 shares, valued at $6.77 million. Acadian Asset Management LLC boosted its holdings by 468,803 shares, now owning 1,638,568 shares valued at $5.65 million. Meanwhile, AWM Investment Company, Inc. reduced its position by 1,667,403 shares, ending with 1,400,166 shares worth around $4.83 million.
Insider Buying and Selling at Backblaze, Inc.
Insider activity at BLZE included several transactions on May 26, 2026. Nelson Barbara, Carter Miller Jocelyn, An Evelyn, and Fry Earl each purchased 19,306 shares. On May 20, 2026, CEO and Chairperson Gleb Budman sold 18,000 and 13,177 shares 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. Citizens and Needham also maintained buy ratings, each setting a $14 target. Notably, Craig-Hallum upgraded the stock to a buy rating with a $16 target on June 23, 2026. The consensus among analysts remains positive, with a strong buy recommendation and an average target price of $14.
Bottom Line
Lake Street's reaffirmation of its buy rating on BLZE, along with a $14 price target, underscores confidence in the company's prospects. With shares trading at $11.66, investors continue to watch insider activity and institutional movements closely. Analyst ratings reflect a generally positive outlook, with multiple firms maintaining buy ratings and setting targets above the current trading price.
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