Blend Labs (BLND) Set to Announce Quarterly Earnings on Wednesday

Blend Labs (NYSE:BLND) is scheduled to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.08) per share for the quarter.

Blend Labs (NYSE:BLND) last released its quarterly earnings results on Friday, March 15th. The company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). The business had revenue of $36.10 million for the quarter, compared to the consensus estimate of $37.52 million. Blend Labs had a negative net margin of 118.15% and a negative return on equity of 595.99%. 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 Down 0.9 %

Shares of Blend Labs stock traded down $0.02 during midday trading on Thursday, reaching $2.28. 168,697 shares of the company’s stock traded hands, compared to its average volume of 1,728,696. The company has a market cap of $574.67 million, a price-to-earnings ratio of -3.04 and a beta of 1.10. The company’s 50 day simple moving average is $2.74 and its 200 day simple moving average is $2.25. The company has a debt-to-equity ratio of 34.81, a quick ratio of 5.38 and a current ratio of 5.38. Blend Labs has a 52 week low of $0.53 and a 52 week high of $3.40.

Insider Buying and Selling

In related news, insider Nima Ghamsari sold 100,807 shares of Blend Labs stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $2.45, for a total value of $246,977.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 11.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BLND shares. The Goldman Sachs Group raised their price target on shares of Blend Labs from $1.60 to $3.10 and gave the company a “buy” rating in a report on Friday, March 15th. Canaccord Genuity Group lifted their target price on shares of Blend Labs from $2.00 to $3.00 and gave the stock a “hold” rating in a report on Monday, March 18th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Blend Labs from $1.85 to $2.65 and gave the stock a “market perform” rating in a report on Monday, March 18th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Blend Labs currently has a consensus rating of “Hold” and a consensus price target of $3.06.

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.