Blend Labs (BLND) to Release Earnings on Wednesday

Blend Labs (NYSE:BLND - Get Free Report) will announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of ($0.02) per share for the quarter. Blend Labs has set its Q3 2024 guidance at EPS.

Blend Labs (NYSE:BLND - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.04. The firm had revenue of $40.48 million for the quarter, compared to analysts' expectations of $39.50 million. On average, analysts expect Blend Labs to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Blend Labs Price Performance

Shares of BLND stock traded up $0.15 during trading hours on Thursday, reaching $3.63. 2,609,357 shares of the stock were exchanged, compared to its average volume of 2,263,039. The business's fifty day moving average is $3.64 and its two-hundred day moving average is $3.08. Blend Labs has a 12-month low of $1.16 and a 12-month high of $4.25. The firm has a market capitalization of $922.91 million, a P/E ratio of -7.22 and a beta of 1.15.

Insider Activity

In other news, insider Winnie Ling sold 20,000 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $3.33, for a total value of $66,600.00. Following the completion of the transaction, the insider now owns 286,416 shares in the company, valued at $953,765.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 54,303 shares of company stock worth $192,926 over the last 90 days. 13.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BLND shares. Canaccord Genuity Group raised Blend Labs from a "hold" rating to a "buy" rating and increased their price objective for the company from $3.00 to $4.75 in a report on Monday, August 12th. The Goldman Sachs Group increased their price objective on Blend Labs from $3.00 to $3.40 and gave the company a "buy" rating in a report on Friday, August 9th. Canaccord Genuity Group raised Blend Labs from a "hold" rating to a "buy" rating and increased their price objective for the company from $3.00 to $4.75 in a report on Monday, August 12th. UBS Group increased their price objective on Blend Labs from $3.00 to $4.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on Blend Labs from $3.00 to $3.25 and gave the company a "market perform" rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $3.94.

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.