Blend Labs Inc (NYSE: BLND) Plunges -3.29% And Its 4.99% Stock Volatility Is Bewildering

Blend Labs Inc (NYSE:BLND) does about 2.19M shares in volume on a normal day but saw 1335049 shares change hands in Friday trading. The company now has a market cap of 593.09M USD. Its current market price is $2.35, marking a decrease of -3.29% compared to the previous close of $2.43. The 52 week high reached by this stock is $3.40 whilst the lowest price level in 52 weeks is $0.93.

Blend Labs Inc (BLND) has a 20-day trading average at $2.42 and the current price is -30.98% off the 52-week high compared with 153.64% distance from its 52-week low. The 50-day simple moving average of the closing price is $2.61 and its 200-day simple moving average is $2.24. If we look at the stock’s price movements over the week, volatility stands at 4.99%, which increases to 6.50% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 42.59 to suggest the stock is neutral.

The consensus objective for the share price is $3.03, suggesting that the stock has a potential upside of 22.44% over the period.

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The company shares received a number of brokerage firm price updates over the past month, with the latest being on December 20, 2023 when Wells Fargo upgraded the stock to “Overweight” and issued a price target of between $1.50 and $3.50. Keefe Bruyette also upgraded the stock to “Mkt Perform” from Underperform on November 14, 2022 at a price target of $2.25. Keefe Bruyette downgraded its price target at $4-$2.75.

Blend Labs Inc (BLND) stock is up 2.17% over the week and -16.07% over the past month. Its price is -7.84% year-to-date and 121.70% over the past year.

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To reach the target analysts have set, the stock logically needs to grow 22.44 percent from here.

The company has a return on investment of -127.84% and return on equity of -786.76%. The beta has a value of 1.11. Price to sales ratio is 3.84.

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