In the last trading session, 1.63 million shares of the Blend Labs Inc (NYSE:BLND) were traded, and its beta was 1.20. Most recently the company’s share price was $4.53, and it changed around $0.21 or 4.86% from the last close, which brings the market valuation of the company to $1.14B. BLND currently trades at a discount to its 52-week high of $4.84, offering almost -6.84% off that amount. The share price’s 52-week low was $1.18, which indicates that the current value has risen by an impressive 73.95% since then. We note from Blend Labs Inc’s average daily trading volume that its 10-day average is 2.95 million shares, with the 3-month average coming to 2.57 million.
Blend Labs Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.67. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 2 recommended BLND as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Blend Labs Inc is expected to report earnings per share of 0.01 for the current quarter.
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Blend Labs Inc (NYSE:BLND) trade information
Instantly BLND has showed a green trend with a performance of 4.86% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 4.75 on recent trading dayincreased the stock’s daily price by 4.63%. The company’s shares are currently up 77.65% year-to-date, but still down -4.63% over the last five days. On the other hand, Blend Labs Inc (NYSE:BLND) is 25.83% up in the 30-day period. We can see from the shorts that 12.73 million shares have been sold at a short interest cover period of 8.93 day(s).
The consensus price target as assigned by Wall Street analysts is $7, which translates to bulls needing to increase their stock price by 35.29% from its current value. Analyst projections state that BLND is forecast to be at a low of $4.75 and a high of $10.
Blend Labs Inc (BLND) estimates and forecasts
Blend Labs Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 44.73 percent over the past six months and at a 82.50% annual growth rate that is well above the industry average of 23.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 107.50% in revenue this quarter, and will report an increase of 106.03% in the next quarter. The year-over-year growth rate is expected to be 3.28%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of 41.38M in revenue for the current quarter. 6 analysts expect Blend Labs Inc to make 42.79M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 36.1M and 34.95M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 14.62%. Forecasts for the next quarter put sales growth at 22.45%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -19.48%. Blend Labs Inc earnings are expected to increase by 82.05% in 2024, but the outlook is positive 20.00% per year for the next five years.
BLND Dividends
Blend Labs Inc’s next quarterly earnings report is expected to be released in December.
Blend Labs Inc (NYSE:BLND)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 4.06% of Blend Labs Inc shares, and 63.73% of them are in the hands of institutional investors. The stock currently has a share float of 66.43%. Blend Labs Inc stock is held by 216.0 institutions, with GENERAL ATLANTIC, L.P. being the largest institutional investor. By 2024-06-30, it held 7.6246% of the shares, which is about 19.13 million shares worth $45.15 million.
VANGUARD GROUP INC, with 5.9027% or 14.81 million shares worth $34.96 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
