Blend Labs (NYSE:BLND) Announces Earnings Results, Misses Estimates By $0.02 EPS

Blend Labs (NYSE:BLND - Get Free Report) released its earnings results on Thursday. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02), Zacks reports.

Blend Labs Trading Up 7.3 %

Shares of BLND stock traded up $0.24 during trading hours on Friday, hitting $3.53. The company's stock had a trading volume of 4,564,228 shares, compared to its average volume of 2,971,206. Blend Labs has a twelve month low of $2.08 and a twelve month high of $5.53. The stock has a market cap of $916.61 million, a price-to-earnings ratio of -10.38 and a beta of 1.29. The business has a fifty day moving average of $3.33 and a 200-day moving average of $3.88.

Institutional Investors Weigh In On Blend Labs

An institutional investor recently bought a new position in Blend Labs stock. Revolve Wealth Partners LLC bought a new stake in Blend Labs, Inc. (NYSE:BLND - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 31,361 shares of the company's stock, valued at approximately $132,000. Institutional investors own 52.56% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on BLND. UBS Group reduced their target price on Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company dropped their target price on Blend Labs from $6.00 to $5.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Canaccord Genuity Group reduced their price objective on Blend Labs from $5.75 to $5.25 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Blend Labs from $3.85 to $3.50 and set a "market perform" rating on the stock in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Blend Labs currently has an average rating of "Moderate Buy" and an average price target of $4.70.

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.

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