Blend Labs Inc [NYSE: BLND] stock went on a downward path that fall over -13.29% on Wednesday, amounting to a one-week price decrease of less than -13.86%. The company report on March 13, 2024 at 2:04 PM that Blend to Announce Fourth Quarter and Full Year 2023 Financial Results on March 14, 2024.
Blend Labs, Inc. (NYSE: BLND), a leader in cloud banking software, today announced that the Company will host a conference call on Thursday, March 14, 2024, at 4:30 pm ET to discuss its fourth quarter and full year 2023 financial results. A press release, with accompanying financial information, will be posted prior to the discussion on the Company’s investor website at https://investor.blend.com.
A link to the live discussion will be made available on the Company’s investor relations website at https://investor.blend.com. A replay will also be made available following the discussion at the same website.
Over the last 12 months, BLND stock rose by 94.78%. The one-year Blend Labs Inc stock forecast points to a potential downside of -9.21. The average equity rating for BLND stock is currently 2.43, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $647.80 million, with 230.21 million shares outstanding and 155.76 million shares in the current float. Compared to the average trading volume of 1.67M shares, BLND stock reached a trading volume of 5566120 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Blend Labs Inc [BLND]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BLND shares is $2.39 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BLND stock is a recommendation set at 2.43. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for Blend Labs Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 20, 2023. The new note on the price target was released on November 14, 2022, representing the official price target for Blend Labs Inc stock. Previously, the target price had yet another drop from $4 to $2.75, while Keefe Bruyette kept a Underperform rating on BLND stock.
The Average True Range (ATR) for Blend Labs Inc is set at 0.27, with the Price to Sales ratio for BLND stock in the period of the last 12 months amounting to 3.96. The Price to Book ratio for the last quarter was 102.84, with the Price to Cash per share for the same quarter was set at 0.99.
BLND Stock Performance Analysis:
Blend Labs Inc [BLND] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.86. With this latest performance, BLND shares dropped by -8.74% in over the last four-week period, additionally plugging by 133.04% over the last 6 months – not to mention a rise of 94.78% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BLND stock in for the last two-week period is set at 47.70, with the RSI for the last a single of trading hit 44.48, and the three-weeks RSI is set at 49.70 for Blend Labs Inc [BLND]. The present Moving Average for the last 50 days of trading for this stock 2.62, while it was recorded at 2.93 for the last single week of trading, and 1.63 for the last 200 days.
Insight into Blend Labs Inc Fundamentals:
Blend Labs Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.66 and a Current Ratio set at 7.66.
BLND Stock EPS
With the latest financial reports released by the company, Blend Labs Inc posted -0.21/share EPS, while the average EPS was predicted by analysts to be reported at -0.16/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -31.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BLND.
Blend Labs Inc [BLND] Institutonal Ownership Details
The top three institutional holders of BLND stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BLND stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BLND stock with ownership which is approximately 5.8325%.
