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BLZE
Upturn stock ratingUpturn stock rating

Backblaze Inc (BLZE)

Upturn stock ratingUpturn stock rating
$5.11
Last Close (24-hour delay)
Profit since last BUY-5.55%
upturn advisory
WEAK BUY
BUY since 21 days
  • BUY Advisory
  • SELL Advisory (Profit)​
  • SELL Advisory (Loss)​
  • Profit
  • Loss
  • Pass (Skip investing)
Upturn Stock infoUpturn Stock info Stock price based on last close
*as per simulation
(see disclosures)
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Upturn Advisory Summary

06/16/2025: BLZE (1-star) has a low Upturn Star Rating. Not recommended to BUY.

Upturn Star Rating

rating

Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

Number of Analysts

rating

6 Analysts rated it

Moderately tracked stock, growing coverage, gaining market and investor attention.

1 Year Target Price $10.99

1 Year Target Price $10.99

Analysts Price Target For last 52 week
$10.99Target price
Low$3.94
Current$5.11
high$8.08

Analysis of Past Performance

Type Stock
Historic Profit -32.13%
Avg. Invested days 22
Today’s Advisory WEAK BUY
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 2.0
Stock Returns Performance Upturn Returns Performance 1.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 06/16/2025

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 300.14M USD
Price to earnings Ratio -
1Y Target Price 10.99
Price to earnings Ratio -
1Y Target Price 10.99
Volume (30-day avg) 6
Beta 1.18
52 Weeks Range 3.94 - 8.08
Updated Date 06/29/2025
52 Weeks Range 3.94 - 8.08
Updated Date 06/29/2025
Dividends yield (FY) -
Basic EPS (TTM) -1.01

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

Earnings Date

Report Date -
When -
Estimate -
Actual -

Profitability

Profit Margin -35.38%
Operating Margin (TTM) -25.77%

Management Effectiveness

Return on Assets (TTM) -16.49%
Return on Equity (TTM) -74.75%

Valuation

Trailing PE -
Forward PE -
Enterprise Value 295294440
Price to Sales(TTM) 2.27
Enterprise Value 295294440
Price to Sales(TTM) 2.27
Enterprise Value to Revenue 2.23
Enterprise Value to EBITDA -5.87
Shares Outstanding 54869600
Shares Floating 49732812
Shares Outstanding 54869600
Shares Floating 49732812
Percent Insiders 18.1
Percent Institutions 44.46

Analyst Ratings

Rating 3
Target Price 10.99
Buy 1
Strong Buy 5
Buy 1
Strong Buy 5
Hold -
Sell -
Strong Sell -
Strong Sell -

ai summary icon Upturn AI SWOT

Backblaze Inc

stock logo

Company Overview

overview logo History and Background

Backblaze, Inc. was founded in 2007. It began as a personal backup solution and has expanded to include cloud storage and compute services. It aims to provide simple, reliable, and affordable cloud services.

business area logo Core Business Areas

  • Cloud Backup: Provides unlimited online backup for computers and servers. It is the most well known service by Backblaze.
  • B2 Cloud Storage: Object storage service competing with AWS S3, Google Cloud Storage, and Azure Blob Storage.
  • Backblaze Compute: Compute service that allows to run applications within the Backblaze cloud.

leadership logo Leadership and Structure

Gleb Budman is the CEO and co-founder. The company has a relatively flat organizational structure, emphasizing collaboration and innovation.

Top Products and Market Share

overview logo Key Offerings

  • Cloud Backup: Unlimited online backup for desktops and laptops. Competitors include Carbonite (OPEN) and IDrive. No specific market share data is available, but Backblaze is considered a leading provider in the personal backup market. User base exceeds 500,000 active users, including both consumer and business accounts. Revenue for 2023 was reported at approximately $103 million.
  • B2 Cloud Storage: Object storage service for developers and businesses. Competitors include Amazon S3 (AMZN), Google Cloud Storage (GOOGL), and Azure Blob Storage (MSFT). Market share is smaller compared to AWS, Google, and Microsoft, focusing on price-sensitive customers. Revenue for 2023 was reported at approximately $52 million.
  • Backblaze Compute: Compute service that allows to run applications within the Backblaze cloud. Competitors include Amazon EC2 (AMZN), Google Compute Engine (GOOGL), and Azure Virtual Machines (MSFT). This is a new product and there is no publicly available market share data.

Market Dynamics

industry overview logo Industry Overview

The cloud storage industry is experiencing rapid growth, driven by the increasing need for data backup, disaster recovery, and archiving. The industry is highly competitive with major players offering a wide range of services.

Positioning

Backblaze positions itself as a cost-effective alternative to the major cloud providers, focusing on simplicity, reliability, and affordability. They target individuals and small to medium-sized businesses (SMBs).

Total Addressable Market (TAM)

The total addressable market (TAM) for cloud storage is estimated to be in the hundreds of billions of dollars, growing at a rapid pace. Backblaze is well-positioned to capture a growing share of this market, especially among price-conscious customers.

Upturn SWOT Analysis

Strengths

  • Competitive pricing
  • Simple and easy-to-use interface
  • Strong reputation for reliability
  • Focus on a specific niche (price-sensitive)
  • Positive Brand Reputation

Weaknesses

  • Smaller market share compared to major cloud providers
  • Limited range of services compared to AWS, Google, and Microsoft
  • Lower brand awareness compared to larger competitors
  • Dependence on single data center locations.

Opportunities

  • Expanding into new geographic markets
  • Developing new services and features
  • Partnering with other technology companies
  • Capitalizing on the growing demand for cloud storage
  • Increase number of Data Centers
  • Focus more on Enterprise Customers

Threats

  • Intense competition from larger cloud providers
  • Price wars in the cloud storage market
  • Security breaches and data loss
  • Changes in technology and regulations
  • Economic downturn impacting IT spending

Competitors and Market Share

competitor logo Key Competitors

  • AMZN
  • GOOGL
  • MSFT
  • OPEN

Competitive Landscape

Backblaze differentiates itself through competitive pricing and ease of use. However, it faces intense competition from larger cloud providers with more comprehensive offerings. Backblaze's price and simplicity are its key advantages, while its smaller scale and limited service range are disadvantages.

Growth Trajectory and Initiatives

Historical Growth: Backblaze has experienced steady revenue growth over the past several years, driven by increasing adoption of its cloud backup and B2 cloud storage services.

Future Projections: Analysts project continued revenue growth for Backblaze, driven by the growing demand for cloud storage and backup. However, profitability remains a key factor to watch.

Recent Initiatives: Recent initiatives include expanding its B2 cloud storage services, developing new features for its cloud backup product, and focusing on strategic partnerships.

Summary

Backblaze is a growing company in the competitive cloud storage market, it's strength lies in its competitive pricing and focus on SMBs. While its revenue is increasing, and the TAM is big, it faces strong competition from industry giants, requiring them to innovate and expand services to maintain and grow market share. The company's ability to achieve consistent profitability will be crucial for long-term success, but needs to be wary of those in the top right of the Gartner Magic Quadrant.

Peer Comparison

Sources and Disclaimers

Data Sources:

  • Company Website
  • Financial Reports
  • Industry Analysis Reports
  • Analyst Estimates

Disclaimers:

The information provided is for informational purposes only and does not constitute investment advice. Market data and financial information are subject to change. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.

Upturn AI SummarizationUpturn AI Summarization AI Summarization is directionally correct and might not be accurate.

Upturn AI SummarizationUpturn AI Summarization Summarized information shown could be a few years old and not current.

Upturn AI SummarizationUpturn AI Summarization Fundamental Rating based on AI could be based on old data.

Upturn AI SummarizationUpturn AI Summarization AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.

About Backblaze Inc

Exchange NASDAQ
Headquaters San Mateo, CA, United States
IPO Launch date 2021-11-11
Co-Founder, CEO & Chairman Mr. Gleb Budman
Sector Technology
Industry Software - Infrastructure
Full time employees 346
Full time employees 346

Backblaze, Inc., a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases. In addition, the company offers cloud storage solutions for a range of cases, such as public, hybrid, and multi-cloud data storage; application development and DevOps; content delivery and edge computing; security and ransomware protection; media management; backup, archive, and tape replacement; and Internet of Things. In addition, it provides Backblaze Computer Backup that automatically backs up data from laptops and desktops for businesses and individuals, which offers a subscription-based software-as-a-service and serves use cases, including computer backup, ransomware protection, theft and loss protection, and remote access. The company serves consumers, organizations, and businesses. The company was incorporated in 2007 and is headquartered in San Mateo, California.