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

Blend Labs (NYSE:BLND) is expected to announce 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 interested in participating in the company’s conference call can do so using this link.

Blend Labs Trading Down 5.7 %

Blend Labs stock opened at $3.57 on Tuesday. The stock has a 50-day moving average price of $3.95 and a 200 day moving average price of $4.02. Blend Labs has a 52 week low of $2.08 and a 52 week high of $5.53. The stock has a market cap of $912.39 million, a PE ratio of -10.48 and a beta of 1.36.

Analyst Ratings Changes

A number of brokerages have issued reports on BLND. The Goldman Sachs Group raised their price target on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods raised their price target on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. JMP Securities began coverage on Blend Labs in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price target on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $5.75 price target on shares of Blend Labs in a research note on Friday, December 20th. Finally, Citizens Jmp raised Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $5.11.

Insider Activity

In related news, Director Timothy J. Mayopoulos sold 56,490 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $5.50, for a total transaction of $310,695.00. Following the transaction, the director now directly owns 331,130 shares of the company’s stock, valued at approximately $1,821,215. The trade was a 14.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian Kneafsey sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $5.12, for a total value of $153,600.00. Following the transaction, the insider now directly owns 937,439 shares in the company, valued at $4,799,687.68. This trade represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,737 shares of company stock valued at $1,196,254 in the last three months. Corporate insiders own 13.21% of the company’s stock.

Blend Labs Company Profile

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.