We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Backblaze (BLZE) Stock Jumps 10.5%: Will It Continue to Soar?
Read MoreHide Full Article
Backblaze, Inc. (BLZE - Free Report) shares ended the last trading session 10.5% higher at $6.96. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.4% loss over the past four weeks.
Backblaze is benefiting from a strong go-to-market transformation led by new executives, which includes upskilling, focused partnerships, and sales plays, driving significant revenue growth, particularly in its B2 Cloud Storage segment, while also improving cost efficiency through aggressive expense management and restructuring.
This company is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of +40%. Revenues are expected to be $33.75 million, up 17.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Backblaze, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BLZE going forward to see if this recent jump can turn into more strength down the road.
Backblaze is a member of the Zacks Internet - Software industry. One other stock in the same industry, Weave Communications, Inc. (WEAV - Free Report) , finished the last trading session 0.2% higher at $17.21. WEAV has returned 8.7% over the past month.
For Weave Communications, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.03. This represents a change of +400% from what the company reported a year ago. Weave Communications currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Backblaze (BLZE) Stock Jumps 10.5%: Will It Continue to Soar?
Backblaze, Inc. (BLZE - Free Report) shares ended the last trading session 10.5% higher at $6.96. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.4% loss over the past four weeks.
Backblaze is benefiting from a strong go-to-market transformation led by new executives, which includes upskilling, focused partnerships, and sales plays, driving significant revenue growth, particularly in its B2 Cloud Storage segment, while also improving cost efficiency through aggressive expense management and restructuring.
This company is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of +40%. Revenues are expected to be $33.75 million, up 17.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Backblaze, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BLZE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Backblaze is a member of the Zacks Internet - Software industry. One other stock in the same industry, Weave Communications, Inc. (WEAV - Free Report) , finished the last trading session 0.2% higher at $17.21. WEAV has returned 8.7% over the past month.
For Weave Communications, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.03. This represents a change of +400% from what the company reported a year ago. Weave Communications currently has a Zacks Rank of #3 (Hold).