Blend Labs Inc. (NYSE:BLND) shares traded -0.80% lower at $1.24 on Wall Street last session.
In accordance with the data, 9 analysts cover Blend Labs Inc. (NYSE:BLND). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $2.00 and a low of $1.00, we find $1.15. Given the previous closing price of $1.25, this indicates a potential downside of -8.0 percent. BLND stock price is now 31.77% away from the 50-day moving average and -12.60% away from the 200-day moving average. The market capitalization of the company currently stands at $292.93M.
It has been rated a hold by 8 analysts and a buy by 1. Brokers who have rated the stock have averaged $1.27 as their price target over the next twelve months.
With the price target maintained at $2.25, Keefe Bruyette recently Upgraded its rating from Underperform to Mkt Perform for Blend Labs Inc. (NYSE: BLND).
In other news, Ghamsari Nima, Head of Blend sold 153,531 shares of the company’s stock on Jun 30. The stock was sold for $147,344 at an average price of $0.96. Upon completion of the transaction, the Head of Blend now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On May 31, Head of Blend Ghamsari Nima sold 151,316 shares of the business’s stock. A total of $144,461 was realized by selling the stock at an average price of $0.95. Insiders disposed of 3,138,150 shares of company stock worth roughly $3.89 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BLND stock. A new stake in Blend Labs Inc. shares was purchased by EDGEPOINT INVESTMENT GROUP INC. during the first quarter worth $9,433,000. JACOBS LEVY EQUITY MANAGEMENT, INC invested $2,907,000 in shares of BLND during the first quarter. In the first quarter, AMERIPRISE FINANCIAL INC acquired a new stake in Blend Labs Inc. valued at approximately $468,000. PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO acquired a new stake in BLND for approximately $236,000. BALYASNY ASSET MANAGEMENT L.P. purchased a new stake in BLND valued at around $108,000 in the second quarter. In total, there are 156 active investors with 68.50% ownership of the company’s stock.
Blend Labs Inc. (NYSE: BLND) opened at $1.2400 on Thursday. During the past 12 months, Blend Labs Inc. has had a low of $0.53 and a high of $3.82. As of last week, the company has a debt-to-equity ratio of 3.05, a current ratio of 8.80, and a quick ratio of 8.80. The fifty day moving average price for BLND is $0.9535 and a two-hundred day moving average price translates $1.4140 for the stock.
The latest earnings results from Blend Labs Inc. (NYSE: BLND) was released for Mar, 2023. According to the Software – Application Company, earnings per share came in at -$0.15, beating analysts’ expectations of -$0.18 by 0.03. This compares to -$0.31 EPS in the same period last year. The company reported revenue of $37.34 million for the quarter, compared to $71.52 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -47.8 percent. For the current quarter, analysts expect BLND to generate $40.13M in revenue.
Blend Labs Inc.(BLND) Company Profile
Blend Labs, Inc. engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company’s Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners’ insurance, and realty. It also offers verification components to automate confirmation tasks that are needed to underwrite a loan or approve the opening of a new deposit account; decisioning components to reduce the need for human intervention by automatically applying business rules throughout an application workflow configured by a financial services firm; workflow intelligence components to manage data collection and automate tasks throughout the loan origination process; and marketplace components to enable consumers to shop for products and services presented at the precise moment of need during an application for a loan. In addition, the company, through its subsidiary, offers title search procedures for title insurance policies, escrow, and other closing and settlement services, as well as other trustee services; and provides professional and consulting services. It serves banks, credit unions, financial technology companies, and non-bank mortgage lenders. Blend Labs, Inc. was incorporated in 2012 and is headquartered in San Francisco, California.
