B. Riley Securities Rates Backblaze (BLZE) buy, $16 Price Target
B. Riley Securities reiterated its buy rating for Backblaze, Inc. with a new price target of $16, a 19.23% upside from the current price.
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B. Riley Securities rated Backblaze, Inc. ($BLZE) "buy" with a $16 price target on June 24, 2026.
Since the rating, $BLZE is up 36.7% after 1 week, down 3.0% after 1 month and down 28.1% to date (from the $11.97 close on Jun 24, 2026).
BLZE
Backblaze, Inc.
Key Points
- On June 24, 2026, B. Riley Securities reiterated its buy rating for Backblaze, Inc. (BLZE) with a price target of $16, up from a prior target of $7.
- B. Riley Securities's $16 price target implies 19.23% upside from Backblaze, Inc.'s ($BLZE) current $13.42 share price.
- Backblaze shares are currently trading at $13.42, showing a strong position above its 52-week low of $3.26.
- Analysts have a consensus buy recommendation for Backblaze with a mean price target of $22.83, indicating confidence in the company's future.
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B. Riley Securities Reiterates Buy Rating
On June 24, 2026, B. Riley Securities reiterated its buy rating for Backblaze, Inc. (BLZE) on the NasdaqGM, setting a new price target of $16. This is an increase from a previous target of $7, reflecting a positive outlook on the company's performance.
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What Changed in the Analyst's View
The new target represents a significant adjustment in B. Riley's view of Backblaze, reflecting confidence in its growth potential. The firm believes the stock's value could rise as the company continues to expand its cloud storage services.
Analysts Set New Price Targets
Backblaze has received positive feedback from several analysts. On September 10, 2026, Needham reiterated a buy rating with a target of $23. Oppenheimer maintained an outperform rating with a target of $25 on August 4, 2026. Additionally, Citizens kept a market outperform rating with a target of $21 on the same date. This consensus supports a strong belief in Backblaze's future performance.
Stock Performance Overview
Backblaze shares are currently trading at $13.42, which is a solid position given their 52-week low of $3.26. The stock has seen fluctuations, reaching highs of $23.99 over the past year. The recent target increase from B. Riley reflects a positive sentiment in the market regarding Backblaze's growth and stability.
$BLZE price target
Backblaze, Inc. daily closes and this analyst's $16 target. Not advice.
Recent Earnings
Backblaze reported revenue of $156.3 million, showing a growth rate of 17.7%. However, the company has faced challenges with a negative EPS of -0.35 and a net margin of -13.07%. The next earnings report is expected on November 5, 2026, which could provide further insights into its financial health.
What Backblaze, Inc. Does
Backblaze, Inc. is a cloud storage provider that offers services for both businesses and consumers. The company focuses on secure data storage and protection, catering to a wide range of clients, including developers and large enterprises. The recent analyst activity suggests strong expectations for its future performance as it continues to innovate in the cloud storage sector.
What's Ahead for Backblaze, Inc.
Investors will be watching closely for Backblaze's next earnings report on November 5, 2026. As a reminder, the recent rating from B. Riley Securities reflects past holdings and may not represent current positions. Analysts' confidence, as seen in the reiterated ratings, indicates that Backblaze is positioned for potential growth in the coming months.
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Source: B. Riley Securities's rating change on $BLZE (Jun 24, 2026). Written by software, not financial advice. How we make alerts