B. Riley Securities Rates Backblaze (BLZE) buy, $16 Price Target

B. Riley Securities maintains a buy rating for Backblaze with a new price target of $16, a 33.67% upside from the current price.

By EarningsIQ Research Desk · Published Jun 24, 2026, 11:01 AM EDT · Updated Jun 26, 2026, 2:01 AM EDT

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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.

$8.60 +81.43% year to date

Daily close · Oct 16, 2026

Key Points

On June 24, 2026, B. Riley Securities reiterated its buy rating on Backblaze, Inc. (BLZE) with a price target of $16.00, up from $7.00.
B. Riley Securities's $16 price target implies 33.67% upside from Backblaze, Inc.'s ($BLZE) current $11.97 share price.
The stock currently trades at $11.97, down from its previous close of $13.16, indicating a potential buying opportunity for investors.
B. Riley's decision aligns with a broader positive sentiment, as six analysts have a consensus buy rating with a mean price target of $22.83.

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B. Riley's Updated Rating for Backblaze

On June 24, 2026, B. Riley Securities reiterated its buy rating on Backblaze, Inc. (BLZE), setting a new price target of $16.00. This is an increase from their previous target of $7.00. The stock is currently trading at $11.97 on the NasdaqGM, down from its last close of $13.16.

Analyst rating track record

B. Riley Securities vs. the S&P 500

YTD return +13.30% hypothetical

All-time return +56.34% S&P 500 +18.12%

vs. S&P 500 +38.22% ahead of the index

Hypothetical returns from B. Riley Securities's disclosed trades, not real profit or advice. How we model this.

Analysts Set New Price Targets

B. Riley's updated target reflects a growing confidence in Backblaze's potential as a cloud storage provider. The firm has raised its price target significantly, which signals a positive outlook for the company's performance. The stock's current price is well below its 52-week high of $23.99, suggesting that it may be undervalued at the moment.

Other Analysts Share Optimism

Several other firms have also recently expressed their bullish views on Backblaze. On September 10, 2026, Needham reiterated its buy rating with a target of $23.00. Oppenheimer maintained an outperform rating with a target of $25.00 on August 4, 2026. Meanwhile, Citizens has a market outperform rating with a target of $21.00. The consensus among these analysts indicates robust support for Backblaze in the market.

Stock Performance Context

Backblaze's stock has seen fluctuations in recent months, trading significantly below its 200-day moving average of $15.01. The company's market cap stands around $841.8 million, and it has a forward P/E ratio of 50.37. This context is essential for understanding the stock's current valuation and growth potential.

12-month forecast

$BLZE price target

Backblaze, Inc. daily closes and this analyst's $16 target. Not advice.

Recent Earnings

Backblaze reported revenue of approximately $156.3 million, reflecting a year-over-year growth of 17.7%. The company has faced challenges with a negative net margin of about 13.1% and an EPS of -$0.35. Investors will be watching closely for upcoming earnings, scheduled for November 5, 2026, which could provide further insights into the company's financial health.

What BLZE Does

Backblaze, Inc. offers cloud storage services to both individuals and businesses. Its platform is designed to help users store, access, and protect their data efficiently. The company serves a wide range of clients, including small businesses and large enterprises across various industries.

What’s Next for Backblaze

Investors should keep an eye on the upcoming earnings report in November, as it may shed light on the company's performance and growth prospects. B. Riley's updated rating reflects a positive outlook, but market dynamics can change quickly. Remember, this rating is based on past performance and may not represent current market conditions.