AlphAIalphai — Financial news for AI agents
stocktwits.comAUG 46 min read$BLZE

BLZE Stock Hits A 55-Month High — CEO Says Backblaze Had An 'Amazing Quarter', CRWV Deal Impresses Wall Street

Backblaze Inc. (BLZE) shares rose to a 55-month high after the company reported stronger-than-expected Q2 results. Analysts raised price targets citing AI-driven demand and a record CoreWeave Inc. (CRWV) contract. BLZE posted EPS of $0.08 on $42.7M revenue versus $0.02 on $39.9M expected, and raised 2026 revenue guidance to $172M-$174M.

Original reporting
stocktwits.com
Published Aug 4, 2026, 2:05 PM UTC
Analysis
alphai AI DeskAI-generated
Added to alphai Aug 4, 2026, 4:47 PM UTC. Informational, not investment advice.
How this was made
alphai summarizes source reporting and applies a structured AI analysis for relevance, timing, sentiment and ticker impact. Always verify material claims with the original publisher.
About alphai AI DeskScoring methodologyReport an issue
alphai market briefEarnings
Primary signal
$BLZE
Bullish
high confidence
Mentioned
$BLZE
Relevance
8/10
alphai data visualization · based on stocktwits.com
Decision brief

The 30-second read

$BLZEBullishMed
01

Why it matters

The combination of an earnings beat, raised full-year guidance, and analyst price target increases creates a clear catalyst stack for momentum and estimate revisions.

02

Market read

Traders get a same-day catalyst mix: Q2 beat, raised guidance, and multiple analyst target hikes tied to the CoreWeave contract ramp.

03

What to watch

The article does not quantify gross margin or cash flow impact from the CoreWeave ramp, which could matter for valuation despite revenue growth.

Relevance 8/10Novelty 7/10Timing: pre-market/opening session reaction today

Background

Backblaze reported stronger-than-expected Q2 results and highlighted AI-driven demand and a strategic CoreWeave agreement.

Company-level read

Ticker impact

$BLZEBullishHigh confidence
Context

Backblaze shares surged after Q2 results beat expectations and the company raised full-year 2026 revenue guidance, citing a CoreWeave deal.

Expected impact

Bullish bias for follow-through as analysts lift targets and investors anchor on the phased CoreWeave ramp into 2026-2027.

Evidence & confidence

The article provides concrete EPS/revenue beats, explicit guidance increase, and specific CoreWeave contract framing that supports higher estimates into 2026 and 2027.

Market effects

Sector

Reinforces the AI infrastructure storage demand narrative, potentially supporting sentiment for cloud storage and AI-adjacent infrastructure names.

Regional

No specific regional market linkage beyond US small-cap growth sentiment.

Global

Limited; the catalysts are company-specific (Backblaze results and CoreWeave contract).

Counterpoint

What could challenge this read

The CoreWeave revenue is described as ramping with data transfer limits and onboarding time, so near-term upside may be front-loaded into expectations.

Key entities

  • company
    Backblaze Inc.

    BLZE cloud storage provider reporting Q2 outperformance and raising 2026 revenue outlook, citing AI demand and CoreWeave.

  • company
    CoreWeave Inc.

    AI cloud infrastructure provider with which Backblaze has a strategic agreement referenced as a key growth contributor.

  • analyst
    Ittai Kidron

    Oppenheimer analyst who raised Backblaze’s price target to $25 from $15 while keeping an Outperform rating.

  • analyst
    Rustam Kanga

    Citizens analyst who raised Backblaze’s price target to $21 from $16 while reiterating an Outperform rating.

Read at source← All news

Related articles

AUG 6
$BLZEHighAI 9/10

Why Backblaze Stock Jumped Today

Backblaze (NASDAQ: BLZE) shares rose after its Q2 results beat expectations. Revenue increased 18% to $42.7 million, with B2 Cloud Storage up 34% to $26.6 million. Clients with $50,000+ ARR rose 57%, net revenue retention was 113%, and adjusted EBITDA nearly doubled to $12.8 million. Guidance lifted to about $173 million revenue and 28% adjusted EBITDA margin; Backblaze also signed a 5+ year $335 million deal with CoreWeave.

aol.com3 min
AUG 5
MedAI 8/10

Backblaze, Inc. Q2 2026 Earnings Call Summary

Backblaze reported Q2 2026 results, citing B2 cloud storage growth accelerating to 34% YoY, driven by AI workload demand and a 57% YoY rise in customers generating over $50,000 in ARR. It signed a $335 million multi-year CoreWeave deal. Full-year 2026 revenue guidance was raised by $10M+, with 2027 B2 growth expected over 40% YoY.

yahoo.com7 min
AUG 5
$BLZEMedAI 8/10

Backblaze Q2 Earnings Call Highlights

Backblaze (NASDAQ:BLZE) reported Q2 progress toward higher-value customers, ending the quarter with 235 customers generating over $50,000 in ARR, up 57% year over year. It added about $320 million in remaining performance obligations, including $313 million tied to the CoreWeave deal. Gross margin was 63%, and full-year 2026 revenue guidance rose to $172 million to $174 million.

yahoo.com6 min
AUG 5
$BLZEHighAI 9/10

Why Backblaze Stock Jumped Today

Backblaze (NASDAQ: BLZE) shares rose after the company reported Q2 results that beat expectations. Revenue increased 18% to $42.7M, with B2 Cloud Storage revenue up 34% to $26.6M. Adjusted EBITDA nearly doubled to $12.8M, and adjusted EPS was $0.08 vs $0.02 expected. Backblaze raised FY revenue guidance to ~$173M and entered a 5+ year $335M collaboration with CoreWeave.

yahoo.com4 min
AUG 4
MedAI 8/10

Growth accelerates at Backblaze

Backblaze reported Q2 2026 revenue of $47.2 million, up 18% year over year, beating its $40.2 million high-end outlook. GAAP net loss was $5.1 million, improved from $7.1 million a year earlier. B2 Cloud Storage rose 34% to $22.4 million. The company raised its full-year outlook to $172 million and cited a $335 million strategic deal with CoreWeave.

blocksandfiles.com6 min