Blend Labs (BLND) Expected to Announce Quarterly Earnings on Thursday

Blend Labs (NYSE:BLND) is expected to issue its quarterly earnings data after the market closes on Thursday, February 27th. Analysts expect the company to announce earnings of $0.01 per share and revenue of $41.39 million for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Blend Labs Price Performance

Shares of NYSE BLND opened at $3.57 on Tuesday. The stock has a fifty day moving average price of $3.95 and a 200 day moving average price of $4.02. Blend Labs has a 1-year low of $2.08 and a 1-year high of $5.53. The company has a market cap of $912.39 million, a PE ratio of -10.48 and a beta of 1.36.

Analyst Ratings Changes

BLND has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their target price on Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their target price on Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, December 5th. JMP Securities initiated coverage on Blend Labs in a report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 target price for the company. Citizens Jmp raised Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group raised their target price on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Blend Labs currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.11.

Insider Activity

In other news, Director Timothy J. Mayopoulos sold 56,490 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $5.50, for a total value of $310,695.00. Following the completion of the transaction, the director now owns 331,130 shares in the company, valued at $1,821,215. This trade represents a 14.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $5.05, for a total value of $151,500.00. Following the sale, the insider now owns 907,439 shares of the company’s stock, valued at approximately $4,582,566.95. This represents a 3.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 270,737 shares of company stock worth $1,196,254 over the last 90 days. 13.21% of the stock is currently owned by corporate insiders.

About Blend Labs

Blend Labs, Inc engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty.