Blend Labs Inc (NYSE:BLND) shares traded 2.61% higher at $2.36 on Wall Street last session.
BLND stock price is now -9.75% away from the 50-day moving average and 7.07% away from the 200-day moving average. The market capitalization of the company currently stands at $595.62M.
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With the price target enhanced from $1.50 to $3.50, Wells Fargo Upgraded its rating from Equal Weight to Overweight for Blend Labs Inc (NYSE: BLND). On November 14, 2022, Keefe Bruyette Upgraded its previous ‘Underperform’ rating to ‘Mkt Perform’ on the stock keeping its target price maintained at $2.25, while ‘KeyBanc Capital Markets’ rates the stock as ‘Sector Weight’
In other news, Jafari Amir, HEAD OF FINANCE AND ADMIN. bought 6,265 shares of the company’s stock on Jun 13 ’24. The stock was bought for $16,687 at an average price of $2.66. Upon completion of the transaction, the HEAD OF FINANCE AND ADMIN. now directly owns 494,711 shares in the company, valued at $1.17 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 30 ’24, HEAD OF BLEND Ghamsari Nima sold 81,434 shares of the business’s stock. A total of $238,903 was realized by selling the stock at an average price of $2.93. This leaves the insider owning 2,103,516 shares of the company worth $4.96 million. A total of 26.86% of the company’s stock is owned by insiders.
During the past 12 months, Blend Labs Inc has had a low of $0.85 and a high of $3.40. The fifty day moving average price for BLND is $2.6142 and a two-hundred day moving average price translates $2.21045 for the stock.
The latest earnings results from Blend Labs Inc (NYSE: BLND) was released for 2024-03-31. The net profit margin was -90.62% and return on equity was -786.76% for BLND. The company reported revenue of $34.95 million for the quarter, compared to $37.34 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -6.4 percent.
