Fintel reports that on November 6, 2025, Needham maintained coverage of Backblaze (NasdaqGM:BLZE) with a Buy recommendation.
Analyst Price Forecast Suggests 95.79% Upside
As of October 30, 2025, the average one-year price target for Backblaze is $12.10/share. The forecasts range from a low of $8.08 to a high of $16.70. The average price target represents an increase of 95.79% from its latest reported closing price of $6.18 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Backblaze is 133MM, a decrease of 6.43%. The projected annual non-GAAP EPS is -1.53.
What is the Fund Sentiment?
There are 246 funds or institutions reporting positions in Backblaze. This is an increase of 21 owner(s) or 9.33% in the last quarter. Average portfolio weight of all funds dedicated to BLZE is 0.07%, an increase of 20.73%. Total shares owned by institutions increased in the last three months by 3.93% to 29,725K shares. 
The put/call ratio of BLZE is 0.02, indicating a bullish outlook.
What are Other Shareholders Doing?
AWM Investment holds 3,065K shares representing 5.43% ownership of the company. In its prior filing, the firm reported owning 3,044K shares , representing an increase of 0.67%. The firm decreased its portfolio allocation in BLZE by 6.66% over the last quarter.
IWM - iShares Russell 2000 ETF holds 1,315K shares representing 2.33% ownership of the company. In its prior filing, the firm reported owning 1,203K shares , representing an increase of 8.50%. The firm increased its portfolio allocation in BLZE by 25.65% over the last quarter.
Whetstone Capital Advisors holds 1,195K shares representing 2.12% ownership of the company. In its prior filing, the firm reported owning 697K shares , representing an increase of 41.66%. The firm increased its portfolio allocation in BLZE by 24.80% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,194K shares representing 2.11% ownership of the company. No change in the last quarter.
Geode Capital Management holds 1,169K shares representing 2.07% ownership of the company. In its prior filing, the firm reported owning 1,029K shares , representing an increase of 11.93%. The firm decreased its portfolio allocation in BLZE by 38.86% over the last quarter.
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