Backblaze (BLZE) Stock Forecast, Price Target & Predictions

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BLZE Stock Forecast

Backblaze stock forecast is as follows: an average price target of $10.50 (represents a 86.50% upside from BLZE’s last price of $5.63) and a rating consensus of 'Buy', based on 4 wall street analysts offering a 1-year stock forecast.

BLZE Price Target

The average price target for Backblaze (BLZE) is $10.50 based on 1-year price targets from 4 Wall Street analysts in the past 3 months, with a price target range of $11.00 to $10.00. This represents a potential 86.50% upside from BLZE's last price of $5.63.

BLZE Analyst Ratings

Buy

According to 4 Wall Street analysts, Backblaze's rating consensus is 'Buy'. The analyst rating breakdown for BLZE stock is 0 'Strong Buy' (0.00%), 4 'Buy' (100.00%), 0 'Hold' (0.00%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).

Backblaze Price Target by Analyst

Date	Analyst	Company	Price Target	Price when Published	Price Target/Price when Published	Price Target/Last Closing Price
Oct 21, 2024	Jeff Van Rhee	Craig-Hallum	-	-	47.16%	95.38%
Aug 09, 2024	Ittai Kidron	Oppenheimer	-	-	92.68%	77.62%

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The latest Backblaze stock forecast, released on Oct 21, 2024 by Jeff Van Rhee from Craig-Hallum, set a price target of $11.00, which represents a 47.16% increase from the stock price at the time of the forecast ($7.47), and a 95.38% increase from BLZE last price ($5.63).

Backblaze Price Target by Period

	1M	3M	12M
# Anlaysts	-	1	2
Avg Price Target	-	$11.00	$10.50
Last Closing Price	$5.63	$5.63	$5.63
Upside/Downside	-100.00%	95.38%	86.50%

In the current month, the average price target of Backblaze stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Backblaze's last price of $5.63. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.

Analyst Ratings Upgrades/Downgrades

Date	Company	Previous Rating	New Rating	Rating Change
Oct 21, 2024	Craig-Hallum	Buy	Buy	Hold
Aug 09, 2024	Oppenheimer	Outperform	Outperform	Hold
Feb 09, 2024	B. Riley Securities	Buy	Buy	Hold
Feb 18, 2022	Raymond James	Outperform	Outperform	Hold

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Backblaze's last stock rating was published by Craig-Hallum on Oct 21, 2024. The company gave BLZE a "Buy" rating, the same as its previous rate.

Backblaze Financial Forecast

Backblaze Revenue Forecast

	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21
Revenue	-	-	-	-	-	-	-	-	-	$25.30M	-	$23.39M	$22.93M	$22.05M	$20.69M	$19.49M	$18.70M	$17.32M
Avg Forecast	$38.88M	$37.28M	$35.61M	$34.26M	$33.73M	$32.54M	$30.86M	$29.72M	$28.21M	$25.23M	$24.27M	$23.31M	$22.74M	$21.99M	$20.30M	$19.12M	$18.02M	$17.04M
High Forecast	$39.19M	$37.58M	$35.90M	$34.50M	$33.88M	$32.54M	$30.86M	$29.72M	$28.33M	$25.30M	$24.47M	$23.50M	$22.93M	$21.99M	$20.30M	$19.12M	$18.02M	$17.04M
Low Forecast	$38.53M	$36.95M	$35.29M	$34.10M	$33.66M	$32.54M	$30.86M	$29.72M	$28.13M	$25.11M	$24.06M	$23.10M	$22.54M	$21.99M	$20.30M	$19.12M	$18.02M	$17.04M
# Analysts	3	3	3	5	5	4	2	2	4	8	5	4	4	3	4	3	5	4
Surprise %	-	-	-	-	-	-	-	-	-	1.00%	-	1.00%	1.01%	1.00%	1.02%	1.02%	1.04%	1.02%

Backblaze's average Quarter revenue forecast for Dec 23 based on 4 analysts is $28.21M, with a low forecast of $28.13M, and a high forecast of $28.33M. BLZE's average Quarter revenue forecast represents a 11.50% increase compared to the company's last Quarter revenue of $25.30M (Sep 23).

Backblaze EBITDA Forecast

	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21
# Analysts	3	3	3	5	5	4	2	2	4	8	5	4	4	3	4	3	5	4
EBITDA	-	-	-	-	-	-	-	-	-	$-9.09M	-	$-11.07M	$-8.38M	$-6.73M	$-6.74M	$-6.21M	$-6.28M	$-966.00K
Avg Forecast	$-1.50M	$-1.44M	$-1.37M	$-1.32M	$-1.30M	$-1.25M	$-1.19M	$-1.15M	$-1.09M	$-972.46K	$-935.61K	$-898.44K	$-876.59K	$-1.12M	$-1.03M	$-5.81M	$-5.32M	$-867.20K
High Forecast	$-1.49M	$-1.42M	$-1.36M	$-1.31M	$-1.30M	$-1.25M	$-1.19M	$-1.15M	$-1.08M	$-967.84K	$-927.24K	$-890.41K	$-868.75K	$-1.12M	$-1.03M	$-4.65M	$-4.26M	$-867.20K
Low Forecast	$-1.51M	$-1.45M	$-1.38M	$-1.33M	$-1.31M	$-1.25M	$-1.19M	$-1.15M	$-1.09M	$-975.16K	$-943.16K	$-905.70K	$-883.67K	$-1.12M	$-1.03M	$-6.98M	$-6.39M	$-867.20K
Surprise %	-	-	-	-	-	-	-	-	-	9.35%	-	12.32%	9.56%	6.02%	6.53%	1.07%	1.18%	1.11%

undefined analysts predict BLZE's average Quarter EBITDA for undefined to be $NaN, with a high of $NaN and a low of $NaN. This is NaN% lower than Backblaze's previous annual EBITDA (undefined) of $NaN.

Backblaze Net Income Forecast

	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21
# Analysts	3	3	3	5	5	4	2	2	4	8	5	4	4	3	4	3	5	4
Net Income	-	-	-	-	-	-	-	-	-	$-16.05M	-	$-18.35M	$-14.79M	$-12.59M	$-11.57M	$-12.53M	$-9.69M	$-5.99M
Avg Forecast	$-725.27K	$-1.67M	$-2.47M	$-3.15M	$-3.92M	$-4.72M	$-5.66M	$-6.45M	$-7.83M	$-9.45M	$-10.82M	$-12.37M	$-12.55M	$-10.75M	$-12.79M	$-10.79M	$-8.15M	$-8.15M
High Forecast	$-716.83K	$-1.65M	$-2.44M	$-2.92M	$-2.94M	$-4.67M	$-5.59M	$-6.38M	$-7.01M	$-9.19M	$-10.70M	$-12.23M	$-12.40M	$-10.75M	$-12.79M	$-8.63M	$-6.52M	$-8.15M
Low Forecast	$-732.88K	$-1.69M	$-2.49M	$-3.37M	$-4.90M	$-4.77M	$-5.72M	$-6.52M	$-8.66M	$-9.96M	$-10.94M	$-12.50M	$-12.68M	$-10.75M	$-12.79M	$-12.95M	$-9.78M	$-8.15M
Surprise %	-	-	-	-	-	-	-	-	-	1.70%	-	1.48%	1.18%	1.17%	0.91%	1.16%	1.19%	0.74%

Backblaze's average Quarter net income forecast for undefined is $NaN, with a range of $NaN to $NaN. BLZE's average Quarter net income forecast represents a NaN% decrease compared to the company's last Quarter net income of $NaN (undefined).

Backblaze SG&A Forecast

	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21
# Analysts	3	3	3	5	5	4	2	2	4	8	5	4	4	3	4	3	5	4
SG&A	-	-	-	-	-	-	-	-	-	$17.68M	-	$17.24M	$16.94M	$15.12M	$13.55M	$13.56M	$11.19M	$8.13M
Avg Forecast	$19.10M	$18.32M	$17.49M	$16.83M	$16.57M	$15.98M	$15.16M	$14.60M	$13.86M	$12.39M	$11.92M	$11.45M	$11.17M	$10.80M	$9.97M	$11.67M	$9.49M	$8.37M
High Forecast	$19.25M	$18.46M	$17.63M	$16.95M	$16.64M	$15.98M	$15.16M	$14.60M	$13.92M	$12.43M	$12.02M	$11.54M	$11.26M	$10.80M	$9.97M	$14.01M	$11.39M	$8.37M
Low Forecast	$18.93M	$18.15M	$17.34M	$16.75M	$16.53M	$15.98M	$15.16M	$14.60M	$13.82M	$12.34M	$11.82M	$11.35M	$11.07M	$10.80M	$9.97M	$9.34M	$7.59M	$8.37M
Surprise %	-	-	-	-	-	-	-	-	-	1.43%	-	1.51%	1.52%	1.40%	1.36%	1.16%	1.18%	0.97%

Backblaze's average Quarter SG&A projection for Dec 23 is $13.86M, based on 4 Wall Street analysts, with a range of $13.82M to $13.92M. The forecast indicates a -21.62% fall compared to BLZE last annual SG&A of $17.68M (Sep 23).

Backblaze EPS Forecast

	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21
# Analysts	3	3	3	5	5	4	2	2	4	8	5	4	4	3	4	3	5	4
EPS	-	-	-	-	-	-	-	-	-	$-0.44	-	$-0.54	$-0.45	$-0.39	$-0.37	$-0.41	$-0.39	$-0.20
Avg Forecast	$-0.02	$-0.04	$-0.06	$-0.07	$-0.09	$-0.11	$-0.13	$-0.15	$-0.18	$-0.22	$-0.25	$-0.28	$-0.29	$-0.26	$-0.30	$-0.29	$-0.26	$-0.19
High Forecast	$-0.02	$-0.04	$-0.06	$-0.07	$-0.07	$-0.11	$-0.13	$-0.15	$-0.16	$-0.21	$-0.25	$-0.28	$-0.28	$-0.26	$-0.30	$-0.29	$-0.26	$-0.19
Low Forecast	$-0.02	$-0.04	$-0.06	$-0.08	$-0.11	$-0.11	$-0.13	$-0.15	$-0.20	$-0.23	$-0.25	$-0.29	$-0.29	$-0.26	$-0.30	$-0.29	$-0.26	$-0.19
Surprise %	-	-	-	-	-	-	-	-	-	2.03%	-	1.90%	1.56%	1.53%	1.22%	1.40%	1.51%	1.06%

According to undefined Wall Street analysts, Backblaze's projected average Quarter EPS for undefined is $NaN, with a low estimate of $NaN and a high estimate of $NaN. This represents a NaN% decrease compared to BLZE previous annual EPS of $NaN (undefined).

Backblaze Peer Comparison by Price Target

Ticker	Company	Last Closing Price	Avg Price Target	Upside/Downside	Avg Rating
BLZE	Backblaze	-	-	86.50%	Buy
PRTH	Priority Technology	-	-	55.69%	Buy
STER	Sterling Check	-	-	55.32%	Hold
IMXI	International Money Express	-	-	27.36%	Buy
INFA	Informatica	-	-	27.30%	Buy
RELY	Remitly Global	-	-	20.89%	Buy
AVDX	AvidXchange	-	-	8.10%	Hold
EVCM	EverCommerce	-	-	6.70%	Buy
CCSI	Consensus Cloud Solutions	-	-	5.26%	Buy
NTCT	NetScout Systems	-	-	2.04%	Hold
OSPN	OneSpan	-	-	1.87%	Buy
CSGS	CSG Systems	-	-	-5.80%	Buy
EVTC	EVERTEC	-	-	-12.65%	Sell
ACIW	ACI Worldwide	-	-	-23.42%	Buy

BLZE Forecast FAQ

Is Backblaze a good buy?

Yes, according to 4 Wall Street analysts, Backblaze (BLZE) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 4 'Buy' recommendations, accounting for 100.00% of BLZE's total ratings.

What is BLZE's price target?

Backblaze (BLZE) average price target is $10.5 with a range of $10 to $11, implying a 86.50% from its last price of $5.63. The data is based on 4 Wall Street analysts who provided a twelve-month price target estimate in the last three months.

Will Backblaze stock go up soon?

According to Wall Street analysts' prediction for BLZE stock, the company can go up by 86.50% (from the last price of $5.63 to the average price target of $10.5), up by 95.38% based on the highest stock price target, and up by 77.62% based on the lowest stock price target.

Can Backblaze stock reach $8?

BLZE's average twelve months analyst stock price target of $10.5 supports the claim that Backblaze can reach $8 in the near future.

What are Backblaze's analysts' financial forecasts?

Backblaze's analysts financial forecasts for the fiscal year (Dec 2024) are as follows: average revenue is $126.84M (high $126.99M, low $126.77M), average EBITDA is $-4.889M (high $-4.886M, low $-4.895M), average net income is $-20.752M (high $-19.578M, low $-21.909M), average SG&A $62.31M (high $62.39M, low $62.28M), and average EPS is $-0.477 (high $-0.45, low $-0.503). BLZE's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $146.03M (high $147.17M, low $144.87M), average EBITDA is $-5.629M (high $-5.584M, low $-5.673M), average net income is $-8.005M (high $-7.724M, low $-8.279M), average SG&A $71.74M (high $72.3M, low $71.17M), and average EPS is $-0.184 (high $-0.178, low $-0.19).

Did the BLZE's actual financial results beat the analysts' financial forecasts?

Based on Backblaze's last annual report (Dec 2022), the company's revenue was $85.16M, beating the average analysts forecast of $84.15M by 1.20%. Apple's EBITDA was $-28.262M, beating the average prediction of $-8.842M by 219.65%. The company's net income was $-51.698M, beating the average estimation of $-46.871M by 10.30%. Apple's SG&A was $59.17M, beating the average forecast of $43.62M by 35.64%. Lastly, the company's EPS was $-1.63, beating the average prediction of $-1.14 by 42.98%. In terms of the last quarterly report (Sep 2023), Backblaze's revenue was $25.3M, beating the average analysts' forecast of $25.23M by 0.28%. The company's EBITDA was $-9.093M, beating the average prediction of $-972K by 835.05%. Backblaze's net income was $-16.055M, beating the average estimation of $-9.449M by 69.91%. The company's SG&A was $17.68M, beating the average forecast of $12.39M by 42.64%. Lastly, the company's EPS was $-0.44, beating the average prediction of $-0.217 by 102.63%