Backblaze, Inc. BLZE shares ended the last trading session 7.6% higher at $10.75. 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 21.5% gain over the past four weeks.
Backblaze is benefiting from accelerated B2 revenue growth, AI-driven opportunities, and innovative product offerings like B2 Overdrive and security features.
This company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of +90%. Revenues are expected to be $36.95 million, up 13.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Backblaze is part of the Zacks Internet - Software industry. Reddit Inc. RDDT, another stock in the same industry, closed the last trading session 2.6% lower at $257.56. RDDT has returned 21.7% in the past month.
Reddit Inc.'s consensus EPS estimate for the upcoming report has changed +0.7% over the past month to $0.5. Compared to the company's year-ago EPS, this represents a change of +212.5%. Reddit Inc. currently boasts a Zacks Rank of #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Backblaze, Inc. (BLZE): Free Stock Analysis Report Reddit Inc. (RDDT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
