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How to Buy Backblaze Stock

Backblaze Inc

Backblaze, Inc. , a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally.

Backblaze stock last closed at $6.49, down 3.57% from the previous day, and has increased 21.31% in one year. It has overperformed other stocks in the Software - Infrastructure industry by 0.17 percentage points. Backblaze stock is currently +54.89% from its 52-week low of $4.19, and -48.7% from its 52-week high of $12.65.

There are currently 41.5M BLZE shares outstanding. The market capitalization of BLZE is $269.34M. In the last 24 hours, 260,409 BLZE shares were traded.

How to Buy Backblaze Stock

Wondering how to invest in Backblaze stock? Here's how.
  1. Decide where to buy Backblaze stock: You need to choose a stock brokerage, but don't worry - we've sifted through dozens of online brokerages and apps to help you decide where to buy Backblaze stock.
  2. Sign up for a brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've found.
  3. Deposit money your investment account: Select your method of payment and add your info.
  4. Analyze Backblaze stock: The Backblaze ticker symbol is BLZE. Is Backblaze stock a good investment? Should you buy shares of BLZE? How do BLZE's underlying business fundamentals look? Do top analysts think Backblaze is a good buy? Why has BLZE's stock price moved recently? (Hint: Our stock market research website can help you understand if BLZE is a good stock to buy).
  5. Place your BLZE trade: Decide if you will purchase BLZE shares at the current market price or use a limit order to purchase BLZE stock at a given price.
  6. Get key alerts regarding your BLZE investment: Create a watchlist to the latest updates on your investment in Backblaze stock.

Step 1: Decide where to buy Backblaze stock

You will need an online brokerage account in order to access the NASDAQ market and buy BLZE shares.

A brokerage account is an investment account that allows you to buy and sell a variety of investments, such as stocks, bonds, mutual funds, and ETFs.

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Step 2: Sign up for a brokerage account

Now that you've picked your brokerage, it's time to fill out some personal information so you can buy BLZE today.

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Step 3: Deposit money your investment account

Now that you have created your account on the best stock broker app, you need to deposit funds:

Check out the video below for more details depositing money into your brokerage account.

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Step 4: Analyze Backblaze stock

After you have selected the best place to buy Backblaze stock, it's very important to research their stock prior to buying, so you truly understand the risk as well as the upside.

Backblaze shares at a glance

BLZE Price
$6.49
1w %
3.51%
1y %
21.31%
5y %
N/A
P/E
-4.54x
P/B
5.68x
P/S
2.4x
PEG
N/A
Revenue
$108.59M
Earnings
-$53.65M
Fore. Rev. Growth
16.86%
Fore. Earn. Growth
N/A
Market Cap
$269.34M
Next Earnings
Aug 6, 2024
Next Dividend
N/A

Backblaze Due Diligence Checks

WallStreetZen was designed to help part-time investors do more in-depth fundamental analysis in minutes instead of hours.

You can view all of the due diligence checks on BLZE's stock page.

Is BLZE stock undervalued?

You can use a variety of different financial metrics, analyses, models, and charts to gauge BLZE's true value.

Using relative valuations methods:

  • BLZE could be undervalued based on its P/B ratio of 5.68x, relative to Software - Infrastructure industry P/B ratio of 12.48x

You can access additional valuation research on BLZE's stock here.

A look at BLZE Cashflows and Balance Sheet

Pros:

  • BLZE has $28.16M in cash and short term investments. This is sufficient to cover its annual cash burn of $15.91M.
  • BLZE has cash burn of 15906000. It has enough cash and short-term investments to cover this for at least one year.
  • There are more short-term assets than long-term liabilities on the BLZE balance sheet.

Cons:

  • BLZE has a relatively high debt to equity ratio of 1.78.
  • There are more short-term liabilities than short-term assets on the BLZE balance sheet.
  • BLZE profit margin has gone up by 0.14 percentage points in the past year, but the company is still unprofitable.

Is it a good time to buy Backblaze stock, according to Wall Street analysts?

Out of 3 sell side analysts who give forecasts on BLZE, the consensus analyst rating on Backblaze is a Strong Buy

It's important to keep in mind that analyst forecasts are not recommendations, nor are they financial advice.

You can dig deeper into what analysts are projecting on the Backblaze stock forecast page.

BLZE Technicals

SMA10
6.41
SMA20
6.12
SMA50
6.59
SMA100
8.33
SMA200
7.67
MACD
0.02
MACD Signal
-0.1
MACD Histogram
0.12
RSI
53.06
Stochastic %K
86.87
Stochastic %D
92.18
StochRSI %K
85.65
StochRSI %D
94.7

Is BLZE Making Money?

Last year, BLZE revenue was $108.59M. In the last two year, BLZE's revenue has increased by 23.1% per year. This was faster than the Software - Infrastructure industry average of 17.96%.

You can analyze BLZE's earnings and revenue performance here.

What are BLZE executives and large shareholders up to?

Over the last 12 months, insiders at BLZE have sold more shares than they have bought.

Francis P. Patchel, Chief Financial Officer of BLZE, was the latest BLZE insider to sell. They sold $17,112.54 worth of BLZE shares on May 30, 2024.

Research more about who owns BLZE shares here.

Can I get consistent income from BLZE stock?

No, Backblaze doesn't provide an income stream by paying out dividends.

What do other traders have to say about BLZE?

One of the major reasons eToro is our top-rated brokerage is because of its social trading community.

Click below to find out what other investors have to say.

Step 5: Place your BLZE trade

You have two primary order types:

  • Market order: A market order is an order to buy or sell a security at the best price on the market.
    Market orders are usually fine.
  • Limit order: A limit order lets you buy or sell a security at a specific price (or better).
    If you want to be sure you're buying or selling at a particular dollar amount, use a limit order.

Click the Open button and eToro will execute your order.

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Step 6: Get key alerts regarding your BLZE investment

Now that you own some BLZE stock, you'll want to keep up with your new investment.

Make a watchlist to track the latest developments regarding your BLZE stock.

BLZE Feed

How to Buy Stock in Backblaze

To reiterate, here are the 6 steps to buy Backblaze stock:

  1. Decide where to buy Backblaze stock
  2. Sign up for a brokerage account
  3. Deposit money your investment account
  4. Analyze Backblaze stock
  5. Place your BLZE trade
  6. Get key alerts regarding your BLZE investment

If you are looking for a place to buy stocks, eToro is our recommended option.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

If you want to track your investment in Backblaze, create a watchlist today.

NASDAQ: BLZE
$6.49-0.24 (-3.57%)
Updated Jul 17, 2024
Open eToro Account
NASDAQ: BLZE
$6.49-0.24 (-3.57%)
Updated Jul 17, 2024
Open eToro Account

FAQ

How much does it cost to buy one Backblaze share?

As of Jul 17, 2024, it costs $6.49 to buy one share of Backblaze stock.

Remember, eToro's fractional share buying allows you to buy partial shares of stocks and ETFs. Even if you only have $3, you can buy 0.462 shares of BLZE.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Is now a good time to buy Backblaze stock?

According to 3 Wall Street analysts who monitor Backblaze, their consensus recommendation is to buy Backblaze stock.

What is the best way to buy Backblaze stock?

One way to place an order for Backblaze stock is with a brokerage account.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.