Blend Labs (BLND) Expected to Announce Earnings on Thursday

Blend Labs (NYSE:BLND) will likely be announcing its earnings results 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. Investors that wish to register for the company’s conference call can do so using this link.

Blend Labs Trading Down 2.4 %

Shares of BLND stock opened at $3.48 on Wednesday. The business’s 50-day moving average price is $3.91 and its 200-day moving average price is $4.02. Blend Labs has a 12 month low of $2.08 and a 12 month high of $5.53. The firm has a market capitalization of $889.36 million, a price-to-earnings ratio of -10.22 and a beta of 1.36.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BLND shares. Keefe, Bruyette & Woods lifted their price target on Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group reissued a “buy” rating and set a $5.75 price target on shares of Blend Labs in a research note on Friday, December 20th. The Goldman Sachs Group lifted their price objective on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Citizens Jmp raised Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company lifted their price objective on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Blend Labs currently has an average rating of “Moderate Buy” and an average price target of $5.11.

Insiders Place Their Bets

In other Blend Labs news, Director Timothy J. Mayopoulos sold 56,490 shares of Blend Labs stock in a transaction that occurred 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 sale, the director now directly owns 331,130 shares in the company, valued at approximately $1,821,215. The trade was a 14.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $5.05, for a total value of $151,500.00. Following the completion of the sale, the insider now owns 907,439 shares of the company’s stock, valued at approximately $4,582,566.95. The trade was a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 270,737 shares of company stock worth $1,196,254. 13.21% of the stock is 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.