Backblaze (NASDAQ:BLZE) Issues Earnings Results, Misses Expectations By $0.12 EPS

Backblaze (NASDAQ:BLZE) released its earnings results on Tuesday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.12), Zacks reports. Backblaze had a negative return on equity of 100.67% and a negative net margin of 37.13%.

Backblaze Trading Down 10.6 %

NASDAQ BLZE traded down $0.75 on Tuesday, hitting $6.33. The company’s stock had a trading volume of 812,444 shares, compared to its average volume of 363,769. The company’s 50-day moving average is $6.52 and its 200 day moving average is $6.57. The firm has a market cap of $281.05 million, a PE ratio of -5.70 and a beta of 0.92. Backblaze has a 1-year low of $4.91 and a 1-year high of $12.65. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BLZE. B. Riley decreased their price target on Backblaze from $11.50 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Raymond James raised their target price on shares of Backblaze from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

About Backblaze

Backblaze, Inc, a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases.