On June 24, 2025, JMP Securities initiated coverage on Backblaze (BLZE, Financial), a leading data storage company. The coverage was announced by analyst Rustam Kanga from JMP Securities, based on their thorough analysis of the company's market position and growth potential.
JMP Securities set a price target of $7.00 USD for Backblaze (BLZE, Financial). This price target reflects the analyst's optimistic outlook on the company's future performance in the market.
The current analyst rating for Backblaze (BLZE, Financial) is "Market Outperform," indicating expectations that the stock will perform better than the overall market. This rating provides investors with insights into the potential of Backblaze's stock price to increase relative to its peers.
As Backblaze (BLZE, Financial) continues to innovate and expand its services, the new coverage and price target from JMP Securities could influence investor sentiment and trading activity in the coming months.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 8 analysts, the average target price for Backblaze Inc (BLZE, Financial) is $10.99 with a high estimate of $15.90 and a low estimate of $7.00. The average target implies an upside of 111.10% from the current price of $5.21. More detailed estimate data can be found on the Backblaze Inc (BLZE) Forecast page.
Based on the consensus recommendation from 8 brokerage firms, Backblaze Inc's (BLZE, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Backblaze Inc (BLZE, Financial) in one year is $6.15, suggesting a upside of 18.16% from the current price of $5.205. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Backblaze Inc (BLZE) Summary page.
