Blend Labs Inc (NYSE: BLND) Up 27.45% YTD: Could Trouble Be Ahead?

Blend Labs Inc (NYSE:BLND)’s traded shares stood at 1.54 million during the last session, with the company’s beta value hitting 1.00. At the close of trading, the stock’s price was $3.25, to imply an increase of 2.85% or $0.09 in intraday trading. The BLND share’s 52-week high remains $3.40, putting it -4.62% down since that peak but still an impressive 83.69% since price per share fell to its 52-week low of $0.53. The company has a valuation of $819.16M, with an average of 2.57 million shares in intraday trading volume over the past 10 days and average of 1.85 million shares over the past 3 months.

Blend Labs Inc (NYSE:BLND) trade information

After registering a 2.85% upside in the last session, Blend Labs Inc (BLND) has traded red over the past five days. The stock hit a weekly high of 3.31, jumping 2.85% in its intraday price action. The 5-day price performance for the stock is 6.21%, and 35.42% over 30 days. With these gigs, the year-to-date price performance is 27.45%. Short interest in Blend Labs Inc (NYSE:BLND) saw shorts transact 7.24 million shares and set a 3.13 days time to cover.

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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 168.60% up over the last 6 months, with its year-to-date growth rate higher than industry average at 47.50% against 19.30%. Revenue is forecast to grow 53.30% this quarter before jumping 44.40% for the next one. The rating firms project that company’s revenue will grow 5.40% compared to the previous financial year.

Revenue forecast for the current quarter as set by 7 analysts is $34.53 million. Meanwhile, for the quarter ending Jun 2024, a total of 7 analyst(s) estimate revenue growth to $41.78 million.Earnings reports from the last fiscal year show that sales brought in $37.34 million and $40.11 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -7.50% before jumping 4.20% in the following quarter.

BLND Dividends

Blend Labs Inc has its next earnings report out between March 16 and March 19. 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 7.25% of total outstanding shares, with institutional holders owning 54.12% of the shares at 58.35% float percentage. In total, 54.12% institutions holds shares in the company, led by General Atlantic, L.P.. As of Jun 29, 2023, the company held over 19.13 million shares (or 8.11% of shares), all amounting to roughly $18.12 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 6.28% of shares outstanding. As of the market price on Jun 29, 2023, these shares were worth $14.04 million.

We also have Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund as the top two Mutual Funds with the largest holdings of the Blend Labs Inc (BLND) shares. Going by data provided on Jun 29, 2023, Vanguard Total Stock Market Index Fund holds roughly 6.43 million shares. This is just over 2.73% of the total shares, with a market valuation of $6.09 million. Data from the same date shows that the other fund manager holds a little less at 2.37 million, or 1.00% of the shares, all valued at about 2.24 million.