![]() Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 35% of the 250 plus Zacks industries. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. The current consensus EPS estimate is -$0.27 on $24.32 million in revenues for the coming quarter and -$1.08 on $100.13 million in revenues for the current fiscal year. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. So, the shares are expected to underperform the market in the near future. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Īhead of this earnings release, the estimate revisions trend for Backblaze, Inc. Backblaze IPOd at 16 per share after taking in little funding and revenue for a cloud company. The company sells itself as an affordable cloud storage solution, competing with the Big Three. ![]() The company will list its stock on the Nasdaq under the symbol 'BLZE', according to a filing. The company is scheduled to go public through a direct listing on Wednesday, after. This Thursday: Backblaze's IPO could usher in the small-business cloud, why Twilio is going after the customer-data platform market, and now really might be the time to start crying, Argentina. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Įmpirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. But unlike most cloud software startups, it got there without taking on the bonkers levels of venture capital that has become commonplace in the industry. 6 million shares on the stock market at 22 per share. Almost half a million customersounded in 2007, Backblaze has almost 500,000 customers worldwide. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Techmeme: Cloud backup service Backblaze climbed 24 in its Nasdaq debut on Thursday and 12 on Friday, after raising 100M in its IPO, giving it a market cap of 650M (Jordan Novet/CNBC) The essential tech news of the moment. ![]()
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