Blend Labs (BLND) Expected to Announce Earnings on Thursday

Blend Labs (NYSE:BLND) is anticipated to release its earnings data after the market closes on Thursday, February 27th. Analysts expect Blend Labs to post earnings of $0.01 per share and revenue of $41.39 million for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Blend Labs Trading Down 2.4 %

BLND opened at $3.48 on Wednesday. Blend Labs has a 1-year low of $2.08 and a 1-year high of $5.53. The stock’s fifty day simple moving average is $3.91 and its 200 day simple moving average is $4.02. The stock has a market cap of $889.36 million, a PE ratio of -10.22 and a beta of 1.36.

Analyst Ratings Changes

A number of research firms recently weighed in on BLND. JMP Securities began coverage on Blend Labs in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price target on the stock. The Goldman Sachs Group increased their price target on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods increased their price target on Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price objective on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Citizens Jmp upgraded Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Blend Labs presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.11.

Insider Buying and Selling

In related news, Director Timothy J. Mayopoulos sold 56,490 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $5.50, for a total value of $310,695.00. Following the transaction, the director now owns 331,130 shares in the company, valued at approximately $1,821,215. This trade represents a 14.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Kneafsey sold 30,000 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $3.73, for a total value of $111,900.00. Following the completion of the transaction, the insider now owns 776,759 shares in the company, valued at $2,897,311.07. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 270,737 shares of company stock worth $1,196,254. Company insiders own 13.21% of the company’s stock.

About Blend Labs

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.