Blend Labs Inc (NYSE: BLND)’s stock price has decreased by -1.65 compared to its previous closing price of 2.42. However, the company has seen a -18.49% decrease in its stock price over the last five trading sessions. Business Wire reported 2024-03-13 that SAN FRANCISCO–(BUSINESS WIRE)–Blend Labs, Inc. (NYSE: BLND), a leader in cloud banking software, today announced that the Company will host a conference call on Thursday, March 14, 2024, at 4:30 pm ET to discuss its fourth quarter and full year 2023 financial results. A press release, with accompanying financial information, will be posted prior to the discussion on the Company’s investor website at https://investor.blend.com. A link to the live discussion will be made available on the Compan.
Is It Worth Investing in Blend Labs Inc (NYSE: BLND) Right Now?
BLND has 36-month beta value of 1.11. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for BLND is 159.91M, and currently, short sellers hold a 4.22% ratio of that float. The average trading volume of BLND on April 17, 2024 was 1.80M shares.
BLND’s Market Performance
BLND’s stock has seen a -18.49% decrease for the week, with a -15.30% drop in the past month and a 3.48% gain in the past quarter. The volatility ratio for the week is 7.11%, and the volatility levels for the past 30 days are at 7.97% for Blend Labs Inc The simple moving average for the past 20 days is -20.41% for BLND’s stock, with a 28.87% simple moving average for the past 200 days.
Analysts’ Opinion of BLND
Many brokerage firms have already submitted their reports for BLND stocks, with Wells Fargo repeating the rating for BLND by listing it as a “Overweight.” The predicted price for BLND in the upcoming period, according to Wells Fargo is $3.50 based on the research report published on December 20, 2023 of the previous year 2023.
Keefe Bruyette, on the other hand, stated in their research note that they expect to see BLND reach a price target of $2.25. The rating they have provided for BLND stocks is “Mkt Perform” according to the report published on November 14th, 2022.
Keefe Bruyette gave a rating of “Underperform” to BLND, setting the target price at $2.75 in the report published on July 25th of the previous year.
BLND Trading at -15.44% from the 50-Day Moving Average
After a stumble in the market that brought BLND to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -30.10% of loss for the given period.
Volatility was left at 7.97%, however, over the last 30 days, the volatility rate increased by 7.11%, as shares sank -22.98% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.16% lower at present.
During the last 5 trading sessions, BLND fell by -18.49%, which changed the moving average for the period of 200-days by +143.60% in comparison to the 20-day moving average, which settled at $2.95. In addition, Blend Labs Inc saw -6.67% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BLND starting from Jafari Amir, who purchase 6,265 shares at the price of $2.65 back on Apr 12 ’24. After this action, Jafari Amir now owns 402,716 shares of Blend Labs Inc, valued at $16,588 using the latest closing price.
Ghamsari Nima, the HEAD OF BLEND of Blend Labs Inc, sale 81,700 shares at $2.99 during a trade that took place back on Mar 22 ’24, which means that Ghamsari Nima is holding 34,774 shares at $244,291 based on the most recent closing price.
Stock Fundamentals for BLND
Current profitability levels for the company are sitting at:
- -0.91 for the present operating margin
- 0.52 for the gross margin
The net margin for Blend Labs Inc stands at -1.17. The total capital return value is set at -0.82. Equity return is now at value -356.63, with -57.51 for asset returns.
Based on Blend Labs Inc (BLND), the company’s capital structure generated 1.16 points at debt to capital in total, while cash flow to debt ratio is standing at -0.89. The debt to equity ratio resting at -7.42. The interest coverage ratio of the stock is -4.63.
Currently, EBITDA for the company is -125.51 million with net debt to EBITDA at -1.02. When we switch over and look at the enterprise to sales, we see a ratio of 4.44. The receivables turnover for the company is 7.87for trailing twelve months and the total asset turnover is 0.76. The liquidity ratio also appears to be rather interesting for investors as it stands at 5.35.
Conclusion
To put it simply, Blend Labs Inc (BLND) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
