Citizens Rates Backblaze (BLZE) buy, $14 Price Target

Analyst Rustam Kanga at Citizens maintains a buy rating on Backblaze, Inc., setting a price target of $14.00 as the cloud storage platform shares trade around $13.42, a 4.32% upside from the current price.

By EarningsIQ Research Desk · Published Jun 26, 2026, 3:03 AM EDT · Updated Jun 26, 2026, 12:02 PM EDT

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Citizens rated Backblaze, Inc. ($BLZE) "buy" with a $14 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

Citizens analyst Rustam Kanga reiterated a buy rating on Backblaze, Inc. (NasdaqGM: BLZE) on June 24, 2026, setting a price target of $14.00.
Citizens's $14 price target implies 4.32% upside from Backblaze, Inc.'s ($BLZE) current $13.42 share price.
Backblaze stock recently traded at $13.42, sitting below its 50-day moving average of $15.01 but well above its 200-day moving average of $8.24.
The broader analyst community holds a consensus buy rating on Backblaze with an average price target of $22.83 across six opinions.

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Citizens Reaffirms Buy View on Backblaze Stock

Citizens analyst Rustam Kanga kept a positive stance on Backblaze, Inc. (NasdaqGM: BLZE) on June 24, 2026, reiterating a buy rating on the cloud storage provider with a price target of $14.00. The target sits close to where shares have recently changed hands, offering a tight window between current market values and the firm's official outlook.

12-month forecast

$BLZE price target

Backblaze, Inc. daily closes and this analyst's $14 target. Not advice.

Where Backblaze Stock Trades Today

Backblaze shares recently traded at $13.42, navigating a 52-week range that spans from a low of $3.26 to a high of $23.99. The equity currently sits below its 50-day moving average of $15.01 while remaining comfortably above its 200-day moving average of $8.24. With a market capitalization of roughly $841.8 million, the company carries a forward P/E ratio of 50.37 based on estimated future earnings.

Recent Analyst Updates on Backblaze

Wall Street firms have kept a steady stream of updates flowing for Backblaze over recent months. On September 10, 2026, Needham reiterated its buy rating with a price target of $23.00. Earlier in August, Oppenheimer maintained an outperform rating while moving its target to $25.00, and B. Riley Securities kept a buy rating with a target of $24.00. Citizens itself updated its outlook earlier on August 4, 2026, maintaining a market outperform rating with a $21.00 price target before settling on the $14.00 target associated with Kanga's June update. Across the broader market, six analysts currently track the company, contributing to a consensus buy recommendation and an average target price of $22.83.

Cloud Storage and Platform Growth

Founded in 2007 and based in San Francisco, California, Backblaze runs a cloud storage platform that helps businesses and individuals store, manage, and protect their digital data. The company builds its infrastructure on commodity hardware, offering core services like B2 Cloud Storage for developers and automated computer backup options for personal and corporate users. Its customer base ranges from media companies and AI innovators to academic institutions and small businesses.

What to Watch Next for Backblaze

Investors tracking Backblaze will want to watch for the company's next financial results, scheduled for release on November 5, 2026. Those updates will offer a closer look at revenue growth, which stood at 17.7% over the trailing period on revenue of $156.3 million, alongside ongoing developments in the cloud storage sector. As always, analyst updates and rating changes represent one piece of a broader market picture rather than direct investment advice.