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Why Acquire Shares Of Blend Labs Inc. (BLND)? - Marketing Sentinel

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Date: 2022-06-27 18:35:51

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Blend Labs Inc. (NYSE:BLND) has seen 0.64 million shares traded in the recent trading session. The company, currently valued at $690.80M, closed the recent trade at $2.64 per share which meant it lost -$0.19 on the day or -6.71% during that session. The BLND stock price is -696.97% off its 52-week high price of $21.04 and 2.65% above the 52-week low of $2.57. The 3-month trading volume is 2.82 million shares.

The consensus among analysts is that Blend Labs Inc. (BLND) is a Hold stock at the moment, with a recommendation rating of 2.80. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 8 out of 10 have rated it as a Hold, with 2 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.19.

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Sporting -6.71% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Friday, 06/24/22 when the BLND stock price touched $2.64 or saw a rise of 16.98%. Year-to-date, Blend Labs Inc. shares have moved -61.44%, while the 5-day performance has seen it change 2.17%. Over the past 30 days, the shares of Blend Labs Inc. (NYSE:BLND) have changed -12.38%.

Wall Street analysts have a consensus price target for the stock at $4.11, which means that the shares’ value could jump 35.77% from the levels at last check today. The projected low price target is $3.00 while the price target rests at a high of $5.25. In that case, then, we find that the latest price level in today’s session is -98.86% off the targeted high while a plunge would see the stock gain -13.64% from the levels at last check today.

Blend Labs Inc. (BLND) estimates and forecasts

Figures show that Blend Labs Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -61.65% over the past 6 months, with this year growth rate of 26.14%, compared to 3.70% for the industry. Revenue growth from the last financial year stood is estimated to be 0.00%.

7 analysts offering their estimates for the company have set an average revenue estimate of $64.68 million for the current quarter. 7 have an estimated revenue figure of $58.87 million for the next quarter concluding in Jun 2022.

BLND Dividends

Blend Labs Inc. is expected to release its next earnings report on November 10 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Blend Labs Inc. (NYSE:BLND)’s Major holders

Insiders own 6.70% of the company shares, while shares held by institutions stand at 69.57% with a share float percentage of 74.57%. Investors are also buoyed by the number of investors in a company, with Blend Labs Inc. having a total of 109 institutions that hold shares in the company. The top two institutional holders are Tiger Global Management, LLC with over 19.9 million shares worth more than $146.07 million. As of Dec 30, 2021, Tiger Global Management, LLC held 9.06% of shares outstanding.

The other major institutional holder is Formation8 GP, LLC, with the holding of over 16.22 million shares as of Sep 29, 2021. The firm’s total holdings are worth over $218.65 million and represent 7.38% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Smallcap World Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) FactSet Innovative Technology ETF. As of Dec 30, 2021, the former fund manager holds about 0.97% shares in the company for having 2.14 million shares of worth $15.68 million while later fund manager owns 0.3 million shares of worth $2.42 million as of Jan 30, 2022, which makes it owner of about 0.14% of company’s outstanding stock.

Original Source: https://marketingsentinel.com/2022/06/27/why-acquire-shares-of-blend-labs-inc-blnd/