![]() ![]() Management also noted turnover to ‘lower-cost alternatives’. One of the primary pillars of its software offering, mortgage servicing, also encountered customers going out of business during the previous quarter. ![]() This rapid drop-off in revenue is due to Blend Labs seeing turnover across its product as well as its customer base. Q1 2023 revenue was only 52% of what it was for Q1 2022. For the prior 3 quarter’s Blend Lab’s revenue decreased in the high double digits, with consecutive y/y declines of 38.2%, 47.17%, and 47.8%. While the company previously had very impressive y/y growth in its revenues, this trend has now handedly reversed itself. FundamentalsĪs mentioned, Blend Labs has been experiencing rapid declines in revenue for 3 quarters running. This article will review the company’s fundamentals and posit a view on the businesses forward prospects. In contrast to this ongoing and difficult fundamental scenario, Blend Labs stock is up roughly 2 standard deviations above its 20-day trailing average (10.63%) to start the week. Along with this, Blend Labs has continued to be unprofitable while continuing to lose cash flow. While this may have been a good showing relative to expectations, this quarter was the firm’s 3 rd consecutive quarter of y/y revenue decline. ![]() Piper Sandler Adjusts Blend Labs' Price Target to $3.50 From $5.Banking technology provider Blend Labs ( NYSE: BLND) released Q1 2023 earnings last week and managed to beat across both top and bottom line estimates. UBS Adjusts Blend Labs Price Target to $3 From $5, Maintains Neutral Rating KeyBanc Downgrades Blend Labs to Sector Weight From Overweight, Citing US Housing Market Forecasts, 'Lack of Visibility Into Path to Profitability ' $5 Price Target RemovedĬompass Point Starts Blend Labs at Neutral With $4.20 Price Target Piper Sandler Adjusts Blend Labs' Price Target to $2.50 from $3.50, Keeps Neutral Rating Keefe, Bruyette & Woods Downgrades Blend Labs to Underperform From Market Perform, Lowers Price Target to $2.75 From $4 Goldman Sachs Adjusts Price Target on Blend Labs to $3.25 From $5.25, Keeps Buy RatingĬanaccord Genuity Adjusts Blend Labs' Price Target to $4 From $5, Reiterates Hold Rating Wells Fargo Adjusts Price Target on Blend Labs to $2.50 From $3, Maintains Equal-Weight Rating Keefe Bruyette & Woods Upgrades Blend Labs to Market Perform From Underperform, Price Target is $2.25 Wells Fargo Adjusts Price Target on Blend Labs to $2 From $2.50, Maintains Equal-Weight RatingĬompass Point Adjusts Blend Labs Price Target to $3 From $4.20, Maintains Neutral RatingĬanaccord Genuity Adjusts Price Target on Blend Labs to $3 From $4, Maintains Hold Rating UBS Adjusts Blend Labs Price Target to $2 From $3, Maintains Neutral Rating Keefe, Bruyette & Woods Adjusts Price Target on Blend Labs to $1.40 From $1.30, Maintains Market Perform Rating Wells Fargo Adjusts Price Target on Blend Labs to $1.50 From $2, Maintains Equalweight RatingĬanaccord Genuity Adjusts Price Target on Blend Labs to $2 From $3, Maintains Hold Rating Piper Sandler Adjusts Price Target on Blend Labs to $1.30 From $2.40, Keeps Neutral Rating Goldman Sachs Adjusts Price Target on Blend Labs to $1.50 From $2.50, Maintains Buy Rating UBS Adjusts Blend Labs Price Target to $1 From $2, Maintains Neutral Rating Goldman Sachs Adjusts Price Target on Blend Labs to $1.30 From $1.50, Maintains Buy Rating ![]() Wells Fargo Adjusts Price Target on Blend Labs to $1.50 From $1, Maintains Equal-Weight Rating Goldman Sachs Adjusts Price Target on Blend Labs to $1.40 From $1.30, Maintains Buy Rating Goldman Sachs Adjusts Price Target on Blend Labs to $1.60 From $1.40, Maintains Buy Rating ![]()
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