Blaize Holdings, Inc. (NASDAQ:BZAI) Stock Has Average Price Target of $1.98

Blaize Holdings, Inc. (NASDAQ:BZAI) has been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $1.98.

Several equities analysts have recently weighed in on BZAI shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Blaize in a research report on Monday, September 21st. DA Davidson cut shares of Blaize from a “buy” rating to a “neutral” rating and cut their target price for the stock from $3.00 to $1.00 in a research note on Friday, August 14th. Craig Hallum downgraded shares of Blaize from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Rosenblatt Securities downgraded shares of Blaize from a “buy” rating to a “hold” rating and set a $0.40 target price for the company. in a report on Tuesday, October 6th. Finally, B. Riley Financial decreased their price target on shares of Blaize from $4.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, August 14th.

Institutional Investors Weigh In On Blaize

Institutional investors have recently made changes to their positions in the company. Spark Investment Management LLC acquired a new position in shares of Blaize in the second quarter valued at approximately $42,000. Corient Private Wealth LP acquired a new stake in Blaize during the 2nd quarter worth approximately $28,000. Bank of America Corp DE bought a new stake in Blaize in the 2nd quarter valued at $100,000. EFG International AG bought a new stake in Blaize in the 2nd quarter valued at $594,000. Finally, X Square Capital LLC bought a new stake in Blaize in the 2nd quarter valued at $276,000. Institutional investors own 97.12% of the company’s stock.

Blaize Price Performance

BZAI stock opened at $0.19 on Friday. Blaize has a 1-year low of $0.17 and a 1-year high of $3.06. The business’s 50 day simple moving average is $0.37 and its 200 day simple moving average is $1.10.

Blaize (NASDAQ:BZAI) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Blaize had a negative return on equity of 306.51% and a negative net margin of 160.85%. The company had revenue of $11.99 million for the quarter. As a group, analysts anticipate that Blaize will post -0.72 earnings per share for the current fiscal year.

About Blaize

Blaize, Inc. is an artificial intelligence computing company that develops hardware and software for running AI applications at the edge. Its technology is designed to process data locally on devices and systems, reducing the need to send information to centralized cloud infrastructure and supporting applications that require low latency, lower power consumption, or enhanced data privacy. The company’s offerings include purpose-built edge AI processors, embedded computing platforms, and software tools for developing and deploying machine-learning models.