Blend Labs (BLND) Scheduled to Post Quarterly Earnings on Wednesday

Blend Labs (NYSE:BLND) will be issuing its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of ($0.02) per share for the quarter. Blend Labs has set its Q3 2024 guidance at EPS.

Blend Labs (NYSE:BLND) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $40.48 million for the quarter, compared to analyst estimates of $39.50 million. On average, analysts expect Blend Labs to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Blend Labs Stock Up 0.3 %

NYSE:BLND opened at $3.48 on Thursday. The firm has a market capitalization of $884.77 million, a price-to-earnings ratio of -7.10 and a beta of 1.15. Blend Labs has a twelve month low of $1.16 and a twelve month high of $4.25. The stock’s 50 day moving average price is $3.64 and its two-hundred day moving average price is $3.08.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BLND. UBS Group boosted their price target on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. William Blair upgraded Blend Labs from a “market perform” rating to an “outperform” rating in a research note on Friday, August 9th. Canaccord Genuity Group upgraded Blend Labs from a “hold” rating to a “buy” rating and lifted their target price for the stock from $3.00 to $4.75 in a research note on Monday, August 12th. Canaccord Genuity Group upgraded Blend Labs from a “hold” rating to a “buy” rating and lifted their target price for the stock from $3.00 to $4.75 in a research note on Monday, August 12th. Finally, Keefe, Bruyette & Woods lifted their target price on Blend Labs from $3.00 to $3.25 and gave the stock a “market perform” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.94.

Insider Activity at Blend Labs

In related news, insider Winnie Ling sold 10,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $4.06, for a total value of $40,600.00. Following the completion of the sale, the insider now directly owns 279,169 shares in the company, valued at $1,133,426.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 54,303 shares of company stock worth $192,926 in the last ninety days. 13.21% of the stock is owned by company insiders.

Blend Labs 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.