Blend Labs Inc (NYSE:BLND) shares traded -9.96% lower at $2.35 on Wall Street last session.
BLND stock price is now -10.26% away from the 50-day moving average and 44.31% away from the 200-day moving average. The market capitalization of the company currently stands at $583.27M.
With the price target enhanced from $1.50 to $3.50, Wells Fargo Upgraded its rating from Equal Weight to Overweight for Blend Labs Inc (NYSE: BLND). On November 14, 2022, Keefe Bruyette Upgraded its previous ‘Underperform’ rating to ‘Mkt Perform’ on the stock keeping its target price maintained at $2.25, while ‘KeyBanc Capital Markets’ rates the stock as ‘Sector Weight’
In other news, Jafari Amir, HEAD OF FINANCE AND ADMIN. bought 5,555 shares of the company’s stock on Mar 13 ’24. The stock was bought for $16,665 at an average price of $3.00. Upon completion of the transaction, the HEAD OF FINANCE AND ADMIN. now directly owns 396,451 shares in the company, valued at $0.93 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 23 ’24, HEAD OF BLEND Ghamsari Nima sold 112,108 shares of the business’s stock. A total of $250,247 was realized by selling the stock at an average price of $2.23. This leaves the insider owning 116,474 shares of the company worth $0.27 million. A total of 37.24% of the company’s stock is owned by insiders.
During the past 12 months, Blend Labs Inc has had a low of $0.53 and a high of $3.37. As of last week, the company has a debt-to-equity ratio of 36.79, a current ratio of 7.66, and a quick ratio of 7.66. The fifty day moving average price for BLND is $2.6148 and a two-hundred day moving average price translates $1.6356 for the stock.
The latest earnings results from Blend Labs Inc (NYSE: BLND) was released for Sep, 2023. According to the Software – Application Company, earnings per share came in at -$0.09, inline with analysts’ expectations of -$0.09. This compares to -$0.56 EPS in the same period last year. The net profit margin was -144.45% and return on equity was -259.78% for BLND. The company reported revenue of $40.59 million for the quarter, compared to $55.35 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -26.67 percent. For the current quarter, analysts expect BLND to generate $36.93M in revenue.
