During the last session, Blend Labs Inc (NYSE:BLND)’s traded shares were 1.27 million, with the beta value of the company hitting 1.01. At the end of the trading day, the stock’s price was $3.00, reflecting an intraday loss of -3.85% or -$0.12. The 52-week high for the BLND share is $3.40, that puts it down -13.33 from that peak though still a striking 82.33% gain since the share price plummeted to a 52-week low of $0.53. The company’s market capitalization is $756.15M, and the average intraday trading volume over the past 10 days was 1.56 million shares, and the average trade volume was 1.82 million shares over the past three months.
Blend Labs Inc (NYSE:BLND) trade information
Blend Labs Inc (BLND) registered a -3.85% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.85% in intraday trading to $3.00, hitting a weekly high. The stock’s 5-day price performance is -5.06%, and it has moved by 13.64% in 30 days. Based on these gigs, the overall price performance for the year is 206.15%. The short interest in Blend Labs Inc (NYSE:BLND) is 7.24 million shares and it means that shorts have 3.13 day(s) to cover.
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 up 150.00% during the last six months, with a year-to-date growth rate more than the industry average at 47.50% against 20.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 53.30% this quarter and then jump 44.40% in the quarter after that. In the rating firms’ projections, revenue will increase 5.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $34.53 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $41.78 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $37.34 million and $40.11 million respectively. In this case, analysts expect current quarter sales to shrink by -7.50% and then jump by 4.20% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -19.48%. While earnings are projected to return 52.76% in 2024.
BLND Dividends
Blend Labs Inc is due to release its next quarterly earnings between March 16 and March 19. 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 7.25% of total outstanding shares while institutional holders control 54.12%, with the float percentage being 58.35%. General Atlantic, L.P. is the largest shareholder of the company, while 128 institutions own stock in it. As of Jun 29, 2023, the company held over 19.13 million shares (or 8.11% of all shares), a total value of $18.12 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 6.28% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $14.04 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 Vanguard Extended Market Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 6.43 million shares. This amounts to just over 2.73 percent of the company’s overall shares, with a $6.09 million market value. The same data shows that the other fund manager holds slightly less at 2.37 million, or about 1.00% of the stock, which is worth about $2.24 million.
