In What Direction Will Blend Labs Inc.’s (NYSE:BLND) Stock Goes From Here?

Blend Labs Inc. (NYSE: BLND) closed the day trading at $1.62 down -11.48% from the previous closing price of $1.83. In other words, the price has decreased by -$0.2100 from its previous closing price. On the day, 2651113 shares were traded. BLND stock price reached its highest trading level at $1.8450 during the session, while it also had its lowest trading level at $1.5600.

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For a better understanding of BLND, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 10.30 and its Current Ratio is at 10.30. In the meantime, Its Debt-to-Equity ratio is 1.23 whereas as Long-Term Debt/Eq ratio is at 1.23.

Upgrades & Downgrades

On July 25, 2022, Keefe Bruyette Downgraded its rating to Underperform which previously was Mkt Perform and also lowered its target price recommendation from $4 to $2.75.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Nov 17 when Sumner Crystal sold 12,920 shares for $1.92 per share. The transaction valued at 24,808 led to the insider holds 599,772 shares of the business.

Sumner Crystal sold 12,920 shares of BLND for $26,330 on Nov 16. The Head of Legal, Compliance,Risk now owns 599,772 shares after completing the transaction at $2.04 per share. On Nov 14, another insider, Mayopoulos Timothy J, who serves as the President of the company, sold 8,610 shares for $2.15 each. As a result, the insider received 18,486 and left with 551,274 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 1.48 while its Price-to-Book (P/B) ratio in mrq is 2.16.

Stock Price History:

Over the past 52 weeks, BLND has reached a high of $12.35, while it has fallen to a 52-week low of $1.78. The 50-Day Moving Average of the stock is 2.2954, while the 200-Day Moving Average is calculated to be 4.0048.

Shares Statistics:

Over the past 3-months, BLND traded about 1.65M shares per day on average, while over the past 10 days, BLND traded about 1.46M shares per day. A total of 235.27M shares are outstanding, with a floating share count of 210.67M. Insiders hold about 0.60% of the company’s shares, while institutions hold 68.60% stake in the company. Shares short for BLND as of Oct 13, 2022 were 16.34M with a Short Ratio of 15.88M, compared to 13.17M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 6.96% and a Short% of Float of 8.80%.

Earnings Estimates

Current recommendations for the stock of the company come from 7 analysts. On average, analysts expect EPS of -$0.17 for the current quarter, with a high estimate of -$0.12 and a low estimate of -$0.21, while EPS last year was -$0.13. The consensus estimate for the next quarter is -$0.16, with high estimates of -$0.1 and low estimates of -$0.2.

Analysts are recommending an EPS of between -$0.62 and -$0.8 for the fiscal current year, implying an average EPS of -$0.71. EPS for the following year is -$0.46, with 7 analysts recommending between -$0.36 and -$0.56.

Revenue Estimates

10 analysts predict $51.32M in revenue for the current quarter. It ranges from a high estimate of $54.8M to a low estimate of $45.79M. As of the current estimate, Blend Labs Inc.’s year-ago sales were $86.31M, an estimated decrease of -40.50% from the year-ago figure. For the next quarter, 10 analysts are estimating revenue of $48.88M, a decrease of -39.60% over than the figure of -$40.50% in the same quarter last year. There is a high estimate of $52.65M for the next quarter, whereas the lowest estimate is $42.3M.

A total of 9 analysts have provided revenue estimates for BLND’s current fiscal year. The highest revenue estimate was $243.7M, while the lowest revenue estimate was $225.31M, resulting in an average revenue estimate of $236.63M. In the same quarter a year ago, actual revenue was $234.5M, up 0.90% from the average estimate. Based on 9 analysts’ estimates, the company’s revenue will be $229.05M in the next fiscal year. The high estimate is $263.8M and the low estimate is $161.9M. The average revenue growth estimate for next year is down -3.20% from the average revenue estimate for this year.