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In a challenging market environment, Backblaze Inc. (BLZE) stock has touched a 52-week low, dipping to $4.9. According to InvestingPro data, the company has maintained strong revenue growth of 25% year-over-year, reaching $127.6M, despite current market pressures. The cloud storage and backup service provider has faced a significant downturn over the past year, with its stock price plummeting by 51.71% from the previous year. Investors have shown concern as the company navigates through a competitive landscape and shifting investor sentiment, leading to this new low. However, InvestingPro analysis indicates the stock may be undervalued at current levels, with 4 analysts recently revising their earnings expectations upward. The 52-week low serves as a critical indicator for the company’s performance and investor confidence, marking a stark contrast from its higher valuations in the past year. Discover more insights and 6 additional ProTips for BLZE through the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Backblaze Inc. reported its fourth-quarter 2024 earnings, revealing an earnings per share of -0.06, which exceeded the forecast of -0.09. The company’s revenue reached $33.8 million, slightly above the expected $33.64 million, driven by a 22% year-over-year increase in the B2 Cloud Storage segment. This financial performance reflects Backblaze’s strategic focus on innovation and operational efficiency, as highlighted by their adjusted EBITDA more than doubling from the prior year. In addition, Backblaze has expanded its cloud services in Canada, establishing a new deployment at Cologix’s TOR3 data center in Toronto to comply with Canadian data sovereignty laws. This strategic move supports industries such as healthcare, finance, and government that require data to remain within national borders. Furthermore, Backblaze projects its full-year 2025 revenue between $144 million and $146 million, with expectations for B2 growth to exceed 30% by the fourth quarter of 2025. The company also aims to achieve an adjusted EBITDA margin above 20% by the same period. Analyst firms have not provided recent upgrades or downgrades, but Backblaze’s financial results and strategic initiatives indicate a focus on growth in AI and cloud storage markets.
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