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

Blend Labs (NYSE:BLND) will 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. Investors that wish to listen to the company’s conference call can do so using this link.

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

NYSE BLND traded up $0.04 on Monday, hitting $2.36. 239,582 shares of the stock were exchanged, compared to its average volume of 1,714,476. The company has a market capitalization of $594.83 million, a PE ratio of -3.10 and a beta of 1.10. The business’s fifty day moving average is $2.74 and its 200 day moving average is $2.27. Blend Labs has a 52 week low of $0.62 and a 52 week high of $3.40. The company has a debt-to-equity ratio of 34.81, a current ratio of 5.38 and a quick ratio of 5.38.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BLND. Canaccord Genuity Group raised their price target on shares of Blend Labs from $2.00 to $3.00 and gave the company a “hold” rating in a research note on Monday, March 18th. The Goldman Sachs Group lifted their target price on shares of Blend Labs from $1.60 to $3.10 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Keefe, Bruyette & Woods raised their price target 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $3.06.

Insider Activity at Blend Labs

In other news, insider Nima Ghamsari sold 100,807 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was 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 this hyperlink. 11.83% of the stock is owned by company insiders.

About Blend Labs

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.