fabricrest.blogg.se - Cloud backblaze nasdaq thursday ipo

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Seeking Alpha contributor The Value Investor does a deep dive into BLZE here.

Shares have risen 10% to 20% or more in each the company’s first four sessions. BLZE saw its stock rally 24.4% in its first session to close at $19.90, and the stock’s price has only stoked higher from there.

However, sparks flew for the stock from its first trading day last Thursday.

The company sold 6.3M Class A shares last week at the midpoint of its IPO’s expected $15-$17/share range. The shares were sold at an average price.

BLZE offers consumers and businesses subscriptions for cloud-based computer storage and backup. ( NASDAQ:BLZE Get Rating) major shareholder Kwok Hang Ng sold 2,000 shares of Backblaze stock in a transaction on Wednesday, October 5th.

The stock has been on fire on no apparent news other than enthusiasm for its IPO.

Backblaze ( BLZE) has risen in all four of its trading sessions since going public last week.

That’s up 6.4% in after-hours trading and 109.3% from the stock’s initial public offering price.

BLZE ended the day at a session high $31.50 and kept rising after hours, changing hands at $33.50 shortly before 6 p.m.

Backblaze (NASDAQ: BLZE) fired up investors for the fourth straight session on Tuesday, with the cloud-storage firm’s stock rising 23.5% on the day and closing almost 100% above a $16 IPO price set just last Thursday.

#CLOUD BACKBLAZE NASDAQ THURSDAY IPO FOR FREE#

But Cloudflare plans to offer egress traffic for free as it can leverage cross-selling opportunities between its cloud storage solution and its various other products.

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For instance, Backblaze prices egress traffic (the network traffic you generate when you download a file) from its platform at an attractive 80% discount to AWS. More importantly, Cloudflare will be competing on price. Indeed, Cloudflare's new cloud storage solution will most likely address the company's vast customer base of individuals and small businesses, which corresponds to Backblaze's core customers. Here's an illustration: In addition to the existing competition, the high-growth cloud delivery network specialist Cloudflare recently announced it has been developing a new cloud storage offering that should compete with Backblaze's. However, investors should realize the company remains exposed to intensifying competition, given the low barrier to entry simplified cloud storage capabilities represent. With the surge in the stock price over the last several days, the company's market cap sits at roughly $912 million, which corresponds to 16.7 times trailing-12-month sales.Īt such a rich valuation, the market is already anticipating Backblaze will provide flawless execution over the next several years to match or exceed the growth of its markets while improving profitability. Net losses increased to $6.1 million during the first half of this year, compared to a $1.3 million loss in the prior-year period. ('backblaze'), a leading storage cloud platform, announced the pricing of its initial public offering of 6,250,000 shares. As a result, operating leverage hasn't materialized yet. san mateo, calif., novem- ( business wire )-backblaze, inc. The company has been investing in its infrastructure and offerings to support its growth and gain scale. Its larger DPaaS business grew only 12.2% year over year to $21.1 million.

As a result, the company managed to accumulate approximately 500,000 paying customers at the end of the last quarter.īecause of its low prices, Backblaze generated modest revenue of $31.5 million during the first half of 2021, up 24.7% year over year, boosted by the strong 60.3% growth of its IaaS offering to $10.1 million. Its self-service products also better suit individual users, as well as small- and medium-sized enterprises. initial public offering (IPO) on Monday, cashing in on growing demand for cloud computing from businesses expanding their. But Backblaze developed differentiated offerings thanks to its simplified structure and lower prices relative to competitors. (Reuters) - Cloud storage provider Backblaze Inc filed for a U.S. Of course, such attractive markets also involve a strong competitive environment that includes the larger cloud storage players such as Amazon Web Services (AWS) and Microsoft's Azure, among others.