This article by Simply Wall St is general in nature. Alternatively, email editorial-team (at). Have feedback on this article? Concerned about the content? Get in touch with us directly. It is also worth noting that we have found 1 warning sign for Backblaze that you need to take into consideration. We have estimates - from multiple Backblaze analysts - going out to 2024, and you can see them free on our platform here. With that said, the long-term trajectory of the company's earnings is a lot more important than next year. So it's pretty clear that Backblaze is forecast to grow substantially faster than its industry. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenues grow 12% per year. We can infer from the latest estimates that forecasts expect a continuation of Backblaze'shistorical trends, as the 23% annualised revenue growth to the end of 2022 is roughly in line with the 27% annual revenue growth over the past year. Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await Backblaze shareholders. There are some variant perceptions on Backblaze, with the most bullish analyst valuing it at US$18.00 and the most bearish at US$11.50 per share. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There's been no major changes to the consensus price target of US$14.40, suggesting that reduced loss estimates are not enough to have a long-term positive impact on the stock's valuation. So there seems to have been a moderate uplift in analyst sentiment with the latest consensus release, given the upgrade to loss per share forecasts for this year. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$83.9m and losses of US$1.66 per share in 2022. Losses are forecast to balloon 29% to US$1.62 per share. This would be a decent 11% improvement in sales compared to the last 12 months. Following the latest results, Backblaze's six analysts are now forecasting revenues of US$84.3m in 2022.
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