Blend Labs (NYSE:BLND – Get Rating) issued its earnings results on Monday. The company reported ($0.19) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.19), Briefing.com reports. Blend Labs had a negative net margin of 228.19% and a negative return on equity of 35.72%. The company had revenue of $65.54 million for the quarter, compared to analysts’ expectations of $59.96 million. During the same period in the prior year, the company earned ($0.48) earnings per share. The firm’s revenue was up 104.4% compared to the same quarter last year. Blend Labs updated its FY 2022 guidance to EPS.
Blend Labs Trading Up 28.6 %
NYSE:BLND opened at $3.55 on Wednesday. The stock has a market cap of $780.93 million and a price-to-earnings ratio of -1.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 10.38 and a current ratio of 10.38. Blend Labs has a 1 year low of $2.17 and a 1 year high of $20.35. The business has a fifty day moving average of $2.84 and a 200-day moving average of $4.88.
Insider Activity at Blend Labs
In other Blend Labs news, insider Crystal Sumner sold 20,289 shares of the business’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $3.31, for a total transaction of $67,156.59. Following the sale, the insider now directly owns 654,749 shares in the company, valued at approximately $2,167,219.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Blend Labs news, insider Crystal Sumner sold 20,289 shares of the stock in a transaction on Friday, May 20th. The stock was sold at an average price of $3.31, for a total transaction of $67,156.59. Following the completion of the transaction, the insider now directly owns 654,749 shares of the company’s stock, valued at approximately $2,167,219.19. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Timothy J. Mayopoulos sold 32,298 shares of the business’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $3.31, for a total value of $106,906.38. Following the completion of the sale, the president now directly owns 661,071 shares in the company, valued at approximately $2,188,145.01. The disclosure for this sale can be found here.
Institutional Investors Weigh In On Blend Labs
Analysts Set New Price Targets
A number of brokerages recently weighed in on BLND. Compass Point assumed coverage on shares of Blend Labs in a research report on Wednesday, May 25th. They set a “neutral” rating and a $4.20 price objective for the company. The Goldman Sachs Group dropped their price target on Blend Labs from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, April 19th. Keefe, Bruyette & Woods reissued a “downgrade” rating on shares of Blend Labs in a report on Monday, July 25th. Finally, Piper Sandler upped their price objective on Blend Labs from $2.50 to $3.20 and gave the stock a “neutral” rating in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $4.85.
Blend Labs Company Profile
Blend Labs, Inc provides cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company offers a suite of white-label products for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts.
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