Lake Street Rates Backblaze (BLZE) buy, $14 Price Target

Lake Street analyst Eric Martinuzzi keeps a buy rating on Backblaze, Inc. with a $14 price target, leaving room for potential gains from current trading levels, a 16.96% upside from the current price.

By EarningsIQ Research Desk · Published Jun 24, 2026, 3:01 PM EDT · Updated Jun 26, 2026, 2:01 AM EDT

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Lake Street 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

Lake Street reiterated its buy rating on Backblaze, Inc. (NasdaqGM: BLZE) on June 24, 2026, setting a $14 price target.
Lake Street's $14 price target implies 16.96% upside from Backblaze, Inc.'s ($BLZE) current $11.97 share price.
Backblaze shares traded around $11.97, positioned well above their 52-week low of $3.26 but below the 52-week peak of $23.99.
Wall Street maintains a consensus buy recommendation for the cloud storage platform, backed by six analyst opinions and a mean price target of $22.83.

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Lake Street Keeps Buy Rating on Backblaze Shares

Lake Street analyst Eric Martinuzzi reiterated a buy rating on Backblaze, Inc. (NasdaqGM: BLZE) on June 24, 2026, pointing to a $14 price target for the cloud storage platform. With the stock changing hands around $11.97, the $14 target leaves a noticeable gap between where shares currently sit and what the firm expects over time. Investors often look closely at this kind of spread to see how much upside a covering analyst believes is left on the table.

12-month forecast

$BLZE price target

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

Stock Price Position and Moving Averages

Backblaze shares have seen plenty of movement, moving between a 52-week low of $3.26 and a high of $23.99. The current trading price of $11.97 puts the stock near the middle of that wide range. Looking at short-term and long-term trends, the company's 50-day moving average rests at $15.01, while its 200-day moving average sits lower at $8.24. The forward P/E ratio is 50.37037, based on future earnings expectations for the infrastructure software provider.

Wall Street Views and Recent Firm Updates

Other Wall Street firms have also updated their outlooks on Backblaze in recent months. On September 10, 2026, Needham reiterated its buy rating with a $23 price target. Earlier on August 4, 2026, Oppenheimer maintained an outperform rating and raised its target to $25, while B. Riley Securities kept a buy rating and lifted its target to $24. Citizens maintained a market outperform rating on the same day with a $21 target, and Needham also kept a buy rating with a $23 target. Back in July, Citizens maintained a market outperform rating at $16 on July 23, 2026. Earlier on June 24, 2026, Lake Street maintained its buy rating at $14, and B. Riley Securities kept a buy rating with a $16 target. Overall, the stock holds a consensus buy recommendation from six analyst opinions, with a mean price target of $22.83, ranging from a low of $21.0 to a high of $25.0.

Cloud Storage and Infrastructure Software Operations

Headquartered in San Francisco, California, Backblaze runs a cloud storage platform that helps businesses and individual consumers store, use, and protect digital files. The company builds its web-scale software infrastructure on commodity hardware, offering specialized tools like B2 Cloud Storage for developers and automated computer backup solutions for laptops and desktops. Founded in 2007, the firm serves clients across media, creative agencies, academic institutions, and government sectors.

Upcoming Financial Milestones

Market participants are tracking the company's financial trajectory as it moves through the year, keeping an eye on the next earnings report scheduled for November 5, 2026. These updates help verify whether the underlying business growth matches the targets set by covering analysts across the financial sector.