Fintel reports that on August 24, 2023, Raymond James maintained coverage of Backblaze Inc - (NASDAQ:BLZE) with a Outperform recommendation.
Analyst Price Forecast Suggests 97.60% Upside
As of August 2, 2023, the average one-year price target for Backblaze Inc - is 10.43. The forecasts range from a low of 7.58 to a high of $18.90. The average price target represents an increase of 97.60% from its latest reported closing price of 5.28.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Backblaze Inc - is 102MM, an increase of 9.88%. The projected annual non-GAAP EPS is -1.69.
What is the Fund Sentiment?
There are 66 funds or institutions reporting positions in Backblaze Inc -. This is an increase of 5 owner(s) or 8.20% in the last quarter. Average portfolio weight of all funds dedicated to BLZE is 0.10%, an increase of 11.91%. Total shares owned by institutions increased in the last three months by 0.38% to 5,455K shares. 
The put/call ratio of BLZE is 0.18, indicating a bullish outlook.
What are Other Shareholders Doing?
Whetstone Capital Advisors holds 1,601K shares representing 4.45% ownership of the company. In it's prior filing, the firm reported owning 1,063K shares, representing an increase of 33.58%. The firm increased its portfolio allocation in BLZE by 11.75% over the last quarter.
AWM Investment holds 1,100K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 1,092K shares, representing an increase of 0.76%. The firm decreased its portfolio allocation in BLZE by 32.77% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 507K shares representing 1.41% ownership of the company. In it's prior filing, the firm reported owning 378K shares, representing an increase of 25.45%. The firm increased its portfolio allocation in BLZE by 1.70% over the last quarter.
Gilder Gagnon Howe & Co holds 353K shares representing 0.98% ownership of the company. In it's prior filing, the firm reported owning 396K shares, representing a decrease of 12.21%. The firm decreased its portfolio allocation in BLZE by 36.86% over the last quarter.
Acadian Asset Management holds 217K shares representing 0.60% ownership of the company. In it's prior filing, the firm reported owning 111K shares, representing an increase of 48.78%. The firm increased its portfolio allocation in BLZE by 56.98% over the last quarter.
Additional reading:
- Restated Certificate of Incorporation
- Backblaze Announces Second Quarter 2023 Financial Results 39% Revenue Growth in B2 Cloud Storage, 19% Revenue Growth Overall in Q2 2023
- Certificate of Retirement
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