Blend Labs Inc. (NYSE:BLND)’s traded shares stood at 3.07 million during the last session. At the close of trading, the stock’s price was $1.53, to imply an increase of 2.68% or $0.04 in intraday trading. The BLND share’s 52-week high remains $7.38, putting it -382.35% down since that peak but still an impressive 34.64% since price per share fell to its 52-week low of $1.00. The company has a valuation of $366.22M, with an average of 1.52 million shares in intraday trading volume over the past 10 days and average of 1.51 million shares over the past 3 months.
Analysts have given a consensus recommendation of a Hold for Blend Labs Inc. (BLND), translating to a mean rating of 2.90. Of 10 analyst(s) looking at the stock, 0 analyst(s) give BLND a Sell rating. 0 of those analysts rate the stock as Overweight while 9 advise Hold as 1 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.17.
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Blend Labs Inc. (NYSE:BLND) trade information
After registering a 2.68% upside in the last session, Blend Labs Inc. (BLND) has traded red over the past five days. The stock hit a weekly high of 1.5300 this Wednesday, 03/15/23, jumping 2.68% in its intraday price action. The 5-day price performance for the stock is 3.38%, and -17.30% over 30 days. With these gigs, the year-to-date price performance is 6.25%. Short interest in Blend Labs Inc. (NYSE:BLND) saw shorts transact 11.2 million shares and set a 6.95 days time to cover.
Analysts on Wall Street suggest a consensus price target of $2.36, implying an increase of 35.17% to the stock’s current value. The extremes give us $1.40 and $3.00 for target low and target high price respectively. As such, BLND has been trading -96.08% off suggested target high and 8.5% from its likely low.
Blend Labs Inc. (BLND) estimates and forecasts
Looking at statistics comparing Blend Labs Inc. share performance against respective industry, we note that the company has outperformed competitors. Blend Labs Inc. (BLND) shares are -49.34% down over the last 6 months, with its year-to-date growth rate higher than industry average at 17.05% against 16.90%. Revenue is forecast to grow 10.50% this quarter before jumping 21.10% for the next one. The rating firms project that company’s revenue will grow 1.20% compared to the previous financial year.
Revenue forecast for the current quarter as set by 9 analysts is $44.98 million. Meanwhile, for the quarter ending Mar 2023, a total of 9 analyst(s) estimate revenue growth to $46.76 million.Earnings reports from the last fiscal year show that sales brought in $80.99 million and $71.52 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -44.50% before dropping -34.60% in the following quarter.
Blend Labs Inc. has its next earnings report out on August 15. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Blend Labs Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Blend Labs Inc. (NYSE:BLND)’s Major holders
Blend Labs Inc. insiders hold 6.30% of total outstanding shares, with institutional holders owning 68.86% of the shares at 73.49% float percentage. In total, 68.86% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 18.3 million shares (or 8.13% of shares), all amounting to roughly $40.45 million.
The next major institution holding the largest number of shares is Lightspeed Ultimate General Partner IX, Ltd. with 14.82 million shares, or about 6.58% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $32.75 million.
We also have Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund as the top two Mutual Funds with the largest holdings of the Blend Labs Inc. (BLND) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 6.43 million shares. This is just over 2.86% of the total shares, with a market valuation of $14.22 million. Data from the same date shows that the other fund manager holds a little less at 5.36 million, or 2.38% of the shares, all valued at about 11.85 million.