In yesterday’s Wall Street session, Blend Labs Inc (NYSE:BLND) shares traded at $3.57, down -5.05% from the previous session.
BLND stock price is now 31.48% away from the 50-day moving average and 45.05% away from the 200-day moving average. The market capitalization of the company currently stands at $885.79M.
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With the price target enhanced from $3 to $4.75, Canaccord Genuity Upgraded its rating from Hold to Buy for Blend Labs Inc (NYSE: BLND). , while ‘Wells Fargo’ rates the stock as ‘Overweight’
In other news, Jafari Amir, HEAD OF FINANCE AND ADMIN. bought 6,666 shares of the company’s stock on Jul 12 ’24. The stock was bought for $16,940 at an average price of $2.54. Upon completion of the transaction, the HEAD OF FINANCE AND ADMIN. now directly owns 501,377 shares in the company, valued at $1.79 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 13 ’24, HEAD OF FINANCE AND ADMIN. Jafari Amir bought 6,265 shares of the business’s stock. A total of $16,687 was incurred on buying the stock at an average price of $2.66. This leaves the insider owning 494,711 shares of the company worth $1.77 million. A total of 26.02% of the company’s stock is owned by insiders.
During the past 12 months, Blend Labs Inc has had a low of $1.03 and a high of $4.14. The fifty day moving average price for BLND is $2.7302 and a two-hundred day moving average price translates $2.473 for the stock.
The latest earnings results from Blend Labs Inc (NYSE: BLND) was released for 2024-06-30. The net profit margin was -79.38% and return on equity was -786.76% for BLND. The company reported revenue of $40.48 million for the quarter, compared to $42.81 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -5.45 percent. For the current quarter, analysts expect BLND to generate $42.44M in revenue.
