The Week

Backblaze (BLZE) fell 7.84% this week to close at $12.40, lagging the S&P 500’s -0.8% by roughly 7.04 percentage points. The week shaped up as a rally and reversal: Tuesday 9 September opened strong and closed at $13.89 after touching $14.10; Wednesday hit a weekly high of $14.19 before slipping to $13.23; Thursday dropped to $12.31; and Friday touched $12.15 before recovering slightly to $12.40. Weekly amplitude was 15.11%, with volume picking up on Wednesday and Thursday as positioning turned more mixed.

Key Events

The main company-specific news this week was the WEKA tie-up. On Wednesday 9 September, Backblaze announced a collaboration with WEKA to streamline AI data management across the lifecycle. The same day saw a broader note on capital allocation between AI infrastructure and defensive hedges, but the company’s own headline remained the WEKA partnership. There were no further company-level filings mid-week. On Friday 11 September, National Beverage’s downbeat Q1 results joined Zumiez and Adobe in a pre-market sell-off, and BLZE traded in a narrow range around $12.40, a sharp contrast to the prior week’s highs.

Analyst Ratings

Seven analysts cover Backblaze: 4 rate it buy, 2 rate it outperform, and 1 rates it hold, with no underperform or sell ratings. The consensus recommendation is buy, with a consensus target of $22.833, which sits about 84.14% above the current price of $12.40. Targets range from $21.00 to $25.00, indicating fairly tight dispersion. Backblaze ranks 21st out of 29 companies in the cloud and data-centre industry coverage.

The Week Ahead

Next week’s focus shifts to US macro data. Tuesday 15 September brings the New York Fed manufacturing index, with prior 20.6 and forecast 14.75. Wednesday 16 September includes retail sales ex-autos, retail sales, the NAHB housing market index and EIA crude inventories. Retail sales has prior -0.6 and forecast 0.9, so a miss on either side could alter risk appetite for growth names. For BLZE itself, there are no company-level earnings or filings on the calendar, leaving the share price more exposed to macro liquidity expectations and sector rotation.

In Short

Backblaze’s share price did not move in line with the WEKA announcement this week, and the stock underperformed the S&P 500 by about 7 percentage points after a sharp intraweek reversal. At the same time, consensus analyst ratings remain buy with a target about 84.14% above spot, setting up tension between fundamentals views and short-term price action. The company has negative earnings, with TTM EPS around -$0.33, and the latest session’s flows leaned small-lot net buyers. Looking ahead, the key question is whether macro prints and sector flows allow the price to reconnect with the range implied by analyst targets.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.