BUZZ-Blend Labs hits more than six-month low after Q4 profit miss
ReutersFeb 28, 2025 4:08 PM
Shares of digital lending platform Blend Labs BLND.N plunge as much as 20.2%, hitting their lowest since August
BLND on Thursday posted Q4 adjusted EPS below Wall Street expectations, after beating estimates in previous three quarters
Co forecast mortgage originations to be lower in Q1 2025 relative to Q4 2024, based on volumes YTD through its customer base and latest macroeconomic data
UBS lowers revenue estimates down 9% in FY 2025 given still-challenging mortgage backdrop
Brokerage cuts PT to $3.50 from $4, slight discount to stock's last close
Avg. rating of six analysts is "buy"; median PT is $5.68 - LSEG data
As of last close, BLND stock down 16.6% YTD
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