Blend Labs Inc (NYSE:BLND) has a beta value of 1.16 and has seen 1.38 million shares traded in the last trading session. The company, currently valued at $966.13M, closed the last trade at $3.80 per share which meant it gained $0.19 on the day or 5.26% during that session. The BLND stock price is -11.84% off its 52-week high price of $4.25 and 69.47% above the 52-week low of $1.16. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.61 million shares traded. The 3-month trading volume is 2.84 million shares.
The consensus among analysts is that Blend Labs Inc (BLND) is Buy stock at the moment, with a recommendation rating of 1.67. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 3 have rated it as a Hold, with 2 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.02.
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Blend Labs Inc (NYSE:BLND) trade information
Over the past 30 days, the shares of Blend Labs Inc (NYSE:BLND) have changed 7.95%. Short interest in the company has seen 14.75 million shares shorted with days to cover at 7.0.
Wall Street analysts have a consensus price target for the stock at $7, which means that the shares’ value could jump 45.71% from current levels. The projected low price target is $4.75 while the price target rests at a high of $10.0. In that case, then, we find that the current price level is -163.16% off the targeted high while a plunge would see the stock gain -25.0% from current levels.
Blend Labs Inc (BLND) estimates and forecasts
Figures show that Blend Labs Inc shares have outperformed across the wider relevant industry. The company’s shares have gained 57.68% over the past 6 months, with this year growth rate of 72.50%, compared to 19.70% for the industry. Revenue growth from the last financial year stood is estimated to be 2.50%.
6 analysts offering their estimates for the company have set an average revenue estimate of 41.91M for the current quarter. 6 have an estimated revenue figure of 43.47M for the next ending quarter. Year-ago sales stood 40.59M and 36.1M respectively for this quarter and the next, and analysts expect sales will grow by 3.20% for the current quarter and 2.50% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -19.48% over the past 5 years. Earnings growth for 2024 is a modest 72.42% while over the next 5 years, the company’s earnings are expected to increase by 20.00%.
BLND Dividends
Blend Labs Inc is expected to release its next earnings report in December this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Blend Labs Inc (NYSE:BLND)’s Major holders
Insiders own 4.14% of the company shares, while shares held by institutions stand at 66.17% with a share float percentage of 69.03%. Investors are also buoyed by the number of investors in a company, with Blend Labs Inc having a total of 176.0 institutions that hold shares in the company. The top two institutional holders are GENERAL ATLANTIC, L.P. with over 19.13 million shares worth more than $45.15 million. As of 2024-06-30, GENERAL ATLANTIC, L.P. held 7.6246% of shares outstanding.
The other major institutional holder is VANGUARD GROUP INC, with the holding of over 14.81 million shares as of 2024-06-30. The firm’s total holdings are worth over $34.96 million and represent 5.9027% of shares outstanding.
