(This story corrects second paragraph to remove "early" before next year. ( NASDAQ:BLZE Get Rating) major shareholder Kwok Hang Ng sold 2,000 shares of Backblaze stock in a transaction dated Wednesday, September 21st. market for IPOs has been on a tear in 2020, fueled by a buoyant stock market, with more than $65 billion sold in stock, up almost 40% from the total for all of 2019. The Barchart Technical Opinion rating is a 88 Sell with a Strengthening short term outlook on maintaining the current direction. The global market for cloud storage services is expected to grow from $50.1 billion this year to $137.3 billion by 2025, according to market research firm MarketsandMarkets. The IPO plan coincides with the COVID-19 pandemic driving more businesses to operate digitally and rely on cloud computing for more of their workflow. Backblaze Inc has more than 66 chance of experiencing financial distress in the next few years of operation. Library of Congress, according to a 2011 McKinsey study. Backblaze Inc is trading at 4.95 as of the 10th of October 2022, a -4.26 percent decrease since the beginning of the trading day. has a twelve month low of 4.81 and a twelve month high of 36.50. In cloud storage, it competes with the likes of Inc's Amazon Web Services, although Backblaze targets smaller companies.īackblaze said earlier this year it now stores one exabyte of customer data, which is the equivalent of more than 4,000 times the information stored in the U.S. The stock has a market cap of 156.92 million and a price-to-earnings ratio of -3.34. The successful prediction of Backblaze Inc's future price could yield a significant profit. The average price target represents a 246.39 change from the last price of 4.57. The average price target is 15.83 with a high forecast of 18.00 and a low forecast of 12.50. necessary for hard drive manufacturers and companies like Backblaze to know. Backblaze, led by co-founder Gleb Budman, started in 2007 selling backup software to consumers and companies, and has since expanded into offering cloud storage services which is now the fastest-growing part of its business. Backblaze Inc stock price prediction is an act of determining the future value of Backblaze Inc shares using few different conventional methods such as EPS estimation, analyst consensus, or fundamental intrinsic valuation. BLZE Stock Price Prediction 15.83 (246.39 Upside) Based on 3 Wall Street analysts offering 12 month price targets for Backblaze in the last 3 months. predicting a stock price given historical stock data. The black line is the actual closing price.
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