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Blend Labs Inc. (NYSE: BLND) Is Worth Evaluating At $0.90

During the last session, Blend Labs Inc. (NYSE:BLND)’s traded shares were 2.99 million. At the end of the trading day, the stock’s price was $0.90, reflecting an intraday loss of -13.90% or -$0.15. The 52-week high for the BLND share is $3.85, that puts it down -327.78 from that peak though still a striking 41.11% gain since the share price plummeted to a 52-week low of $0.53. The company’s market capitalization is $239.67M, and the average intraday trading volume over the past 10 days was 1.69 million shares, and the average trade volume was 1.83 million shares over the past three months.

Blend Labs Inc. (BLND) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.90. BLND has a Sell rating from 0 analyst(s) out of 10 analysts who have looked at this stock. 9 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.13.

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Blend Labs Inc. (NYSE:BLND) trade information

Blend Labs Inc. (BLND) registered a -13.90% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -13.90% in intraday trading to $0.90 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -6.89%, and it has moved by 25.50% in 30 days. Based on these gigs, the overall price performance for the year is -73.18%. The short interest in Blend Labs Inc. (NYSE:BLND) is 11.07 million shares and it means that shorts have 10.25 day(s) to cover.

The consensus price target of analysts on Wall Street is $1.51, which implies an increase of 40.4% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.00 and $3.00 respectively. As a result, BLND is trading at a discount of -233.33% off the target high and -11.11% off the low.

Blend Labs Inc. (BLND) estimates and forecasts

Statistics show that Blend Labs Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Blend Labs Inc. (BLND) shares have gone down -44.20% during the last six months, with a year-to-date growth rate more than the industry average at 35.90% against 16.10. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 31.60% this quarter and then jump 42.10% in the quarter after that. In the rating firms’ projections, revenue will decrease -28.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $40.32 million as predicted by 10 analyst(s). Meanwhile, a consensus of 10 analyst(s) estimates revenue growth to $43.93 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $65.54 million and $50.44 million respectively. In this case, analysts expect current quarter sales to shrink by -38.50% and then drop by -12.90% in the coming quarter.

While earnings are projected to return -334.90% in 2023.

BLND Dividends

Blend Labs Inc. is due to release its next quarterly earnings on May 09. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Blend Labs Inc. (NYSE:BLND)’s Major holders

Blend Labs Inc. insiders own 7.06% of total outstanding shares while institutional holders control 60.21%, with the float percentage being 64.79%. General Atlantic, L.P. is the largest shareholder of the company, while 156 institutions own stock in it. As of Mar 30, 2023, the company held over 19.13 million shares (or 8.20% of all shares), a total value of $19.06 million in shares.

The next largest institutional holding, with 14.82 million shares, is of Lightspeed Ultimate General Partner IX, Ltd.’s that is approximately 6.35% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $14.76 million.

Also, the Mutual Funds coming in first place with the largest holdings of Blend Labs Inc. (BLND) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 6.43 million shares. This amounts to just over 2.77 percent of the company’s overall shares, with a $9.26 million market value. The same data shows that the other fund manager holds slightly less at 4.12 million, or about 1.77% of the stock, which is worth about $6.5 million.

On Key

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