The stock of Blend Labs Inc. (NYSE:BLND) increased by $0.04 on Friday to finish at $1.13, up 3.67 percent. The last five days have seen an average of 846,080 shares of common stock traded. 8 times new highs were reached in the current year, with a fall of -$0.3100. The average number of shares traded over the last 20 days was 1,057,940, while the average volume over the last 50 days totaled 1,530,558.
BLND stock dropped -5.83% since last month. On 08/25/23, the company’s shares reached a one-month low of $1.0700. The stock touched a high of $3.36 on 02/06/23, after rallying from a low of $0.53 in 52 weeks. The price of BLND stock has declined by -21.53% or -$0.3100 this year, reaching a new high 8 times. Still, the stock price is down -66.37% from the 52-week high.
Insider Transactions
BLND stock investors should be aware that Blend Labs Inc. (BLND) stock had its last reported insider trading activity 28 days ago on Jul 31. On Jul 31, Head of Blend Ghamsari Nima sold 114,504 shares at $1.32 each. This transaction resulted in the insider making $151,214. On Jun 30, Ghamsari Nima sold 153,531 shares at a price of US$0.96. After the transaction, the insider now owns 0 shares. Head of Blend Ghamsari Nima had earlier sold 151,316 shares on May 31 for $0.95 a share. The transaction was completed for $144,461.
Valuation Metrics
Beta for the stock is 0.62. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.50, the price-to-book (PB) ratio of 6.65.
Financial Health
For the three months ended June 29, Blend Labs Inc.’s quick ratio was 8.90, while its current ratio was 8.90, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 5.28, and the total debt to equity ratio is 5.28. As far as profitability goes, gross margin for the trailing twelve months is 42.00% percent. Based on annual data, it had gross profit of $89.65 million and revenue of $235.2 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BLND’s return on assets (ROA) during the last 12 months has been -78.70%. There was a -218.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -318.00%.
Earnings Surprise
According to Blend Labs Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $42.49 million, while revenues fell by -54.25% to $37.34 million. It was predicted that Blend Labs Inc.’s quarterly earnings would be -$0.09, but it ended up being -$0.13, beating the consensus by 30.80%. EBITDA was -$33.77 million for the quarter. At the end of Blend Labs Inc.’s most recent quarter ended June 29, its liabilities totaled 309.23 million, while its total debt was $231.7 million. Equity owned by shareholders amounts to $245.89 million.
Technical Picture
Here’s a quick look at Blend Labs Inc.’s (BLND) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 37.26%, suggesting the stock is Neutral, with a 47.59% historical volatility rate.
The stochastic %K and %D were 6.44% and 6.96% respectively, while the average true range (ATR) was 0.1131. Based on the 14-day stochastic reading of 9.37%, the RSI (14) reading is 42.49%. On the 9-day MACD Oscillator, the stock is at -0.0778, and the 14-day reading is at -0.1317.
Analyst Ratings
In its most recent analyst report, Keefe Bruyette raised its rating on Blend Labs Inc. (NYSE: BLND) to a Mkt perform. Prior to this, analysts firm rated the stock as an Underperform. Analysts have assigned Blend Labs Inc. (BLND) an Hold rating. BLND is a stock that is recommended for selling by 0 brokerage firms, while 6 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is BLND’s price target for the next 12 months?
The current consensus forecast for the stock is between $1.00 and $2.00, with a median target price of $1.50. In analyzing these forecasts, the average price target given by analysts for Blend Labs Inc. (BLND) is $1.49.
