Needham & Company LLC Lowers Backblaze (NASDAQ:BLZE) Price Target to $6.00

Backblaze (NASDAQ:BLZE) had its target price decreased by investment analysts at Needham & Company LLC from $8.00 to $6.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 37.30% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Backblaze in a research report on Wednesday, January 21st. Raymond James Financial reiterated an “outperform” rating on shares of Backblaze in a research report on Thursday, November 6th. Finally, Citigroup restated a “market outperform” rating on shares of Backblaze in a report on Tuesday. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Backblaze presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Backblaze Trading Down 0.7%

Backblaze stock opened at $4.37 on Tuesday. Backblaze has a 52-week low of $3.83 and a 52-week high of $10.86. The company has a market cap of $252.15 million, a P/E ratio of -6.52 and a beta of 1.28. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.24. The business has a 50-day simple moving average of $4.63 and a two-hundred day simple moving average of $6.73.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. AWM Investment Company Inc. lifted its position in shares of Backblaze by 0.7% during the second quarter. AWM Investment Company Inc. now owns 3,064,526 shares of the company’s stock worth $16,855,000 after purchasing an additional 20,600 shares during the last quarter. Vanguard Group Inc. increased its stake in Backblaze by 5.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,693,508 shares of the company’s stock worth $24,996,000 after buying an additional 134,034 shares during the period. Wasatch Advisors LP bought a new stake in Backblaze during the 3rd quarter valued at about $17,021,000. Pillsbury Lake Capital LLC purchased a new stake in Backblaze in the 4th quarter valued at about $8,058,000. Finally, Whetstone Capital Advisors LLC boosted its position in Backblaze by 4.1% in the 4th quarter. Whetstone Capital Advisors LLC now owns 1,520,055 shares of the company’s stock valued at $7,083,000 after buying an additional 59,263 shares during the period. Hedge funds and other institutional investors own 54.03% of the company’s stock.

Trending Headlines about Backblaze

Here are the key news stories impacting Backblaze this week:

• Positive Sentiment: Q4 results beat estimates — EPS $0.06 vs. consensus $0.01 and revenue $37.76M vs. $37.54M, showing improving profitability and top-line delivery. Backblaze, Inc. (BLZE) Beats Q4 Earnings and Revenue Estimates
• Positive Sentiment: Product and commercial momentum — Backblaze launched B2 Neo (neocloud-specific storage) and disclosed its largest-ever TCV eight‑figure neocloud win, which supports future revenue expansion in AI/neocloud demand. Backblaze Launches B2 Neo to Power Surging Neocloud Market; Multiple Major Platforms Already Signed On
• Positive Sentiment: Management highlighted “record growth” and strategic milestones on the earnings call, reinforcing the company narrative around AI-era storage positioning. Backblaze Inc (BLZE) Q4 2025 Earnings Call Highlights: Record Growth and Strategic Milestones
• Neutral Sentiment: Full earnings call transcript and detailed commentary are available for investors who want management’s operational color and KPI discussion. Backblaze, Inc. (BLZE) Q4 2025 Earnings Call Transcript
• Neutral Sentiment: Analyst/press coverage is reviewing Backblaze alongside peers (e.g., Palantir) — useful for relative valuation and competitive context but not a direct catalyst. Reviewing Palantir Technologies (NASDAQ:PLTR) and Backblaze (NASDAQ:BLZE)
• Negative Sentiment: Guidance disappointed: Q1‑2026 revenue guided to $37.6M–$38.0M (vs. ~$38.1M consensus) and FY‑2026 revenue guided to $156.5M–$158.5M (vs. ~$160.3M consensus), which likely capped upside despite the beat. Backblaze Announces Fourth Quarter and Full Year 2025 Financial Results

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. This service is offered as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases, such as public, hybrid, and multi-cloud data storage; application development and DevOps; content delivery and edge computing; security and ransomware protection; media management; backup, archive, and tape replacement; repository for analytics, artificial intelligence and machine learning; and Internet of Things.