Blend Labs Inc. (BLND): Technicals Say You should Hold


Blend Labs Inc. (NYSE:BLND) saw a downside of -2.00% to close Tuesday at $1.47 after subtracting -$0.03 on the day. The 5-day average trading volume is 1,484,820 shares of the company’s common stock. It has gained $1.8500 in the past week and touched a new high 1 time within the past 5 days. An average of 1,289,045 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,922,438.

BLND’s 1-month performance is 20.49% or $0.2500 on its low of $1.0750 reached on 12/28/22. The company’s shares have touched a 52-week low of $1.00 and high of $10.22, with the stock’s rally to the 52-week high happening on 01/11/23. YTD, BLND has achieved 2.08% or $0.0300 and has reached a new high 5 times. However, the current price is down -85.62% from the 52-week high price.

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Insider Transactions

BLND stock investors last saw insider trading activity on Dec 27.Sumner Crystal (Head of Legal, Compliance,Risk) most recently sold 45,943 shares at $1.12 per share on Dec 27. This transaction cost the insider $51,475. Head of Finance, Greenberg Marc S., sold 23,160 shares at a price of $1.22 on Dec 20. Then, on Dec 20, Head of Legal, Compliance,Risk Sumner Crystal sold 33,196 shares at a price of $1.22 per share. This transaction amounted to $40,390.

Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.22 while the price-to-book (PB) in the most recent quarter is 1.96.

Blend Labs Inc.’s quick ratio for the period ended September 29 was 10.30, with the current ratio over the same period at 10.30. As well, the company’s long term debt to equity for the quarter ending September 29 was 1.23, while the total debt to equity was 1.23.. In terms of profitability, the gross margin trailing 12 months is 40.30%. The firm’s gross profit as reported stood at $115.99 million against revenue of $234.5 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Blend Labs Inc.’s cash and short-term investments amounted to $286.4 million against total debt of $232.71 million. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 42.58% to -$133.98 million, while revenue of -$478.38 million was -257.05% off the previous quarter. Analysts expected BLND to announce -$0.17 per share in earnings in its latest quarter, but it posted -$0.19, representing a -11.80% surprise. EBITDA for the quarter stood at more than -$68.17 million. BLND stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 317.2 million, with total debt at $232.71 million. Shareholders hold equity totaling $237.7 million.

Let’s look briefly at Blend Labs Inc. (BLND) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 45.90% to suggest the stock is trending Neutral, with historical volatility in this time period at 116.98%.

The stock’s 5-day moving average is $1.5260, reflecting a -16.00% or -$0.2800 change from its current price. BLND is currently trading +16.67% above its 20-day SMA, -51.64% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -21.39% and SMA200 by-68.32%.

Stochastic %K and %D was 27.73% and 41.12% and the average true range (ATR) pointed at 0.1601. The RSI (14) points at 48.01%, while the 14-day stochastic is at 10.87% with the period’s ATR at 0.1617. The stock’s 9-day MACD Oscillator is pointing at -0.0900 and -0.0893 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Blend Labs Inc. (NYSE: BLND), Keefe Bruyette upgraded it to a Mkt perform rating. They previously had an Underperform rating on the stock. Analysts offering their rating for BLND stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate BLND as a “sell,”, while 9 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.

What is BLND’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $1.30 and a high of $3.00, with their median price target at $2.40. Looking at these predictions, the average price target given by analysts is for Blend Labs Inc. (BLND) stock is $2.35.


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