What Backblaze, Inc.’s (NASDAQ:BLZE) 67% Share Price Gain Is Not Telling You
Backblaze, Inc. (NASDAQ:BLZE) shareholders would be excited to see that the share price has had a great month, posting a 67% gain and recovering from prior weakness. Looking back a bit further, it’s encouraging to see the stock is up 41% in the last year.
After such a large jump in price, given close to half the companies operating in the United States’ IT industry have price-to-sales ratios (or “P/S”) below 2.3x, you may consider Backblaze as a stock to potentially avoid with its 3.4x P/S ratio. However, the P/S might be high for a reason and it requires further investigation to determine if it’s justified.
