Assessing Backblaze: Insights From 4 Financial Analysts
Portfolio Pulse from Benzinga Insights
Four financial analysts have recently shared their evaluations of Backblaze (NASDAQ:BLZE), showing a mix of bullish and somewhat bullish outlooks. The average 12-month price target for BLZE is now $12.25, marking a 23.99% increase from the previous target of $9.88. Analysts from firms including Oppenheimer and Raymond James have raised their price targets, reflecting positive sentiment towards the company's market performance and financial indicators such as a 25.35% revenue growth rate. However, concerns are noted with Backblaze's below-average net margin, ROE, ROA, and a cautious approach to debt management.
April 17, 2024 | 1:00 pm
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Backblaze has received positive analyst ratings with an increased average price target of $12.25, reflecting a bullish sentiment. The company's significant revenue growth of 25.35% is a strong point, but issues with profitability and asset utilization could be concerns for investors.
The increase in the average price target and positive ratings from analysts suggest a bullish outlook for Backblaze in the short term, driven by strong revenue growth. However, the concerns regarding net margin, ROE, and ROA indicate potential challenges in profitability and asset utilization that could temper investor enthusiasm.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100