Blend Labs Inc. (BLND) Performance and Fundamentals Dashboard tells a completely different story

Blend Labs Inc. (NYSE: BLND) stock fell -13.90% on Wednesday to $0.90 against a previous-day closing price of $1.05. With 2.99 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.83 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $1.0185 whereas the lowest price it dropped to was $0.9010. The 52-week range on BLND shows that it touched its highest point at $3.85 and its lowest point at $0.53 during that stretch. It currently has a 1-year price target of $1.57.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BLND was down-trending over the past week, with a drop of -6.89%, but this was up by 25.50% over a month. Three-month performance dropped to -44.20% while six-month performance fell -44.20%. The stock lost -73.18% in the past year, while it has lost -37.22% so far this year. A look at the trailing 12-month EPS for BLND yields -3.25 with Next year EPS estimates of -0.28. For the next quarter, that number is -0.13. This implies an EPS growth rate of -334.90% for this year and 42.90% for next year.

Float and Shares Shorts:

At present, 241.44 million BLND shares are outstanding with a float of 210.77 million shares on hand for trading. On Apr 27, 2023, short shares totaled 11.07 million, which was 4.54% higher than short shares on Mar 30, 2023. In addition to Mr. Nima Ghamsari as the firm’s Co-Founder, Chairman, CEO & Head of Blend, Mr. Erin James Collard serves as its Co-Founder & Director.

Institutional Ownership:

Through their ownership of 60.21% of BLND’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 22.76% of BLND, in contrast to 15.25% held by mutual funds. Shares owned by individuals account for 11.67%. As the largest shareholder in BLND with 5.12% of the stake, Temasek Holdings Pte Ltd. holds 11,875,773 shares worth 11,875,773. A second-largest stockholder of BLND, BlackRock Fund Advisors, holds 10,806,482 shares, controlling over 4.66% of the firm’s shares. ShawSpring Partners LLC is the third largest shareholder in BLND, holding 10,386,061 shares or 4.47% stake. With a 2.77% stake in BLND, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 6,432,185 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.70% of BLND stock, is the second-largest Mutual Fund holder. It holds 3,945,509 shares valued at 2.34 million. Vanguard Extended Market Index Fu holds 1.03% of the stake in BLND, owning 2,398,282 shares worth 1.42 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, BLND reported revenue of $65.54M and operating income of -$73.21M. The EBITDA in the recently reported quarter was -$67.73M and diluted EPS was -$2.06.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BLND since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BLND analysts setting a high price target of $3.00 and a low target of $1.00, the average target price over the next 12 months is $1.51. Based on these targets, BLND could surge 233.33% to reach the target high and rise by 11.11% to reach the target low. Reaching the average price target will result in a growth of 67.78% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded BLND stock several times over the past three months with 2 Buys and 2 Sells. In these transactions, 400,012 shares were bought while 400,012 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 37 over the past year. The total number of shares bought during that period was 2,585,400 while 2,970,994 shares were sold.

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