BLND - Blend Labs' Turnaround: From Decline To Potential Stability In 2024? (Upgrade)
2024-06-13 11:22:22 ET
Summary
- Blend Labs, Inc. beat revenue and earnings estimates for Q1 2024, with the potential for revenue stabilization ahead.
- Blend Labs provides mortgage origination software and services in a growing global financial services application market.
- Recent financial trends show improved earnings potential from a $150 million equity investment, but revenue growth remains uncertain.
- I'm upgrading Blend Labs stock to Neutral (Hold) on likely revenue stabilization and improved earnings and cash flow results.
Investment Outlook
Blend Labs, Inc. ( BLND ) reported financial results for the first quarter of 2024, beating revenue and earnings estimates.
I previously wrote about Blend in November 2023 with a Sell outlook due to declining revenue and heavy operating losses....
Blend Labs' Turnaround: From Decline To Potential Stability In 2024? (Upgrade)