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

Blend Labs (NYSE:BLND) is scheduled to be issuing its quarterly earnings data 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 register for the company’s conference call can do so using this link.

Blend Labs (NYSE:BLND) last posted its earnings results on Friday, March 15th. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). The firm had revenue of $36.10 million for the quarter, compared to analysts’ expectations 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 Performance

Shares of NYSE:BLND traded up $0.04 during mid-day trading on Monday, reaching $2.36. The company had a trading volume of 239,582 shares, compared to its average volume of 1,714,476. The firm has a market cap of $594.83 million, a price-to-earnings ratio of -3.10 and a beta of 1.10. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 34.81. The company’s 50-day moving average price is $2.74 and its 200-day moving average price is $2.27. Blend Labs has a one year low of $0.62 and a one year high of $3.40.

Insiders Place Their Bets

In other Blend Labs news, insider Nima Ghamsari sold 100,807 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $2.45, for a total transaction of $246,977.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BLND shares. The Goldman Sachs Group increased their price target on shares of Blend Labs from $1.60 to $3.10 and gave the stock a “buy” rating in a report on Friday, March 15th. Canaccord Genuity Group upped their price objective 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. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Blend Labs from $1.85 to $2.65 and gave the stock a “market perform” rating in a research note on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Blend Labs currently has an average rating of “Hold” and a consensus target price 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.