Blend Labs (BLND) to Release Quarterly Earnings on Wednesday

Blend Labs (NYSE:BLND) will issue its quarterly earnings data 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.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Blend Labs (NYSE:BLND) last announced its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The business 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 Stock Performance

Shares of NYSE BLND traded up $0.09 during midday trading on Tuesday, hitting $3.70. 667,059 shares of the company’s stock were exchanged, compared to its average volume of 2,246,302. Blend Labs has a twelve month low of $1.16 and a twelve month high of $4.25. The stock’s 50 day moving average price is $3.64 and its 200-day moving average price is $3.11.

Analysts Set New Price Targets

BLND has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their target price on shares of Blend Labs from $3.00 to $3.40 and gave the stock a “buy” rating in a report on Friday, August 9th. UBS Group upped their price target on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and raised their target price for the stock from $3.00 to $4.75 in a research note on Monday, August 12th. Keefe, Bruyette & Woods boosted their target price on shares of Blend Labs from $3.00 to $3.25 and gave the company a “market perform” rating in a research note on Monday, August 12th. Finally, Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and increased their price target for the stock from $3.00 to $4.75 in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Blend Labs currently has an average rating of “Moderate Buy” and an average target price of $3.94.

Insider Buying and Selling at Blend Labs

In other Blend Labs news, insider Winnie Ling sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $4.06, for a total value of $40,600.00. Following the transaction, the insider now directly owns 279,169 shares of the company’s stock, valued at approximately $1,133,426.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 54,303 shares of company stock valued at $192,926 in the last quarter. 13.21% of the stock is currently owned by insiders.

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.