Lake Street Rates Backblaze (BLZE) buy, $14 Price Target

Lake Street Maintains Backblaze Stance

Lake Street has kept its bullish stance on Backblaze, Inc. (BLZE) on NasdaqGM, with analyst Eric Martinuzzi reiterating a buy rating and a $14 price target on June 24, 2026. The update keeps the focus on how the cloud storage provider's shares line up against analyst expectations. With the stock changing hands around $14.56, the price sits just above the Lake Street target, reflecting a tight grouping among early summer outlooks from Wall Street firms.

Stock Price Trades Above Moving Averages

Backblaze shares have seen wide swings over the past year, trading as low as $3.26 and reaching a high of $23.99. The current price of $14.56 sits comfortably above its 200-day moving average of $8.24, though it trades slightly under its 50-day moving average of $15.01. The company carries a forward P/E ratio of 50.37 and a market capitalization of roughly $841.8 million.

Wall Street Consensus Outlook

Other research firms have also updated their views on Backblaze recently. On September 10, 2026, Needham reiterated its buy rating with a $23 price target. Earlier in August, Oppenheimer maintained its outperform rating while raising its target to $25 from $15. B. Riley Securities also kept a buy rating on August 4, 2026, bumping its target to $24 from $16. Across the wider analyst community, Backblaze holds a consensus recommendation of buy with six opinions tracked and an average target price of $22.83.

Cloud Storage and Infrastructure

Backblaze, Inc. operates as a cloud storage platform based in San Francisco, California. The company provides cloud services that let businesses and consumers store, protect, and manage data across multiple regions. Its offerings include B2 Cloud Storage for developers and applications, along with automated computer backup tools for individuals and enterprises. The firm serves a wide mix of clients, including media companies, AI developers, and small businesses.

What to Watch at Backblaze, Inc.

Investors will look toward Backblaze's next earnings report, scheduled for November 5, 2026, to gauge revenue growth and profitability trends. The company reported annual revenue of $156.3 million with a 17.7% growth rate, though it maintains a negative net margin. Further analyst updates and upcoming financial disclosures will provide more context on whether market prices continue to hold above early summer targets.