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Blend Labs Inc (NYSE:BLND): Buy, Sell Or Hold At $2.73?

In last trading session, Blend Labs Inc (NYSE:BLND) saw 1.08 million shares changing hands with its beta currently measuring 0.99. Company’s recent per share price level of $2.73 trading at $0.0 or 0.00% at ring of the bell on the day assigns it a market valuation of $677.59M. That closing price of BLND’s stock is at a discount of -7.69% from its 52-week high price of $2.94 and is indicating a premium of 80.59% from its 52-week low price of $0.53. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.51 million shares which gives us an average trading volume of 1.27 million if we extend that period to 3-months.

Blend Labs Inc (NYSE:BLND) trade information

In the last five days BLND remained trading in the green while hitting it’s week-highest on Tuesday, 02/06/24 when the stock touched $2.73 price level, adding 7.14% to its value on the day. Blend Labs Inc’s shares saw a change of 7.06% in year-to-date performance and have moved 5.00% in past 5-day. Blend Labs Inc (NYSE:BLND) showed a performance of 5.41% in past 30-days. Number of shares sold short was 9.7 million shares which calculate 5.73 days to cover the short interests.

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Blend Labs Inc (BLND) estimates and forecasts

Statistics highlight that Blend Labs Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company added 123.77% of value to its shares in past 6 months, showing an annual growth rate of 47.44% while that of industry is 19.60. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 57.10% in the current quarter and calculating 53.30% increase in the next quarter. This year revenue growth is estimated to fall -33.30% from the last financial year’s standing.

7 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $36.93 million for the same. And 6 analysts are in estimates of company making revenue of $41.34 million in the next quarter that will end on Mar 2024. Company posted $42.78 million and $37.34 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -13.70% while estimating it to be 10.70% for the next quarter.

BLND Dividends

Blend Labs Inc is more likely to be releasing its next quarterly report between March 16 and March 19 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 7.14% of company’s total shares while institution are holding 47.88 percent of that, with stock having share float percentage of 51.56%. Investors also watch the number of corporate investors in a company very closely, which is 47.88% institutions for Blend Labs Inc that are currently holding shares of the company. General Atlantic, L.P. is the top institutional holder at BLND for having 19.13 million shares of worth $18.12 million. And as of Jun 29, 2023, it was holding 8.11% of the company’s outstanding shares.

The second largest institutional holder is Lightspeed Ultimate General Partner IX, Ltd., which was holding about 14.82 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 6.28% of outstanding shares, having a total worth of $14.04 million.

On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 6.43 million shares of worth $6.09 million or 2.73% of the total outstanding shares. The later fund manager was in possession of 2.37 million shares on Jun 29, 2023, making its stake of worth around $2.24 million in the company or a holder of 1.00% of company’s stock.

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