![]() Blend's Vision is to bring simplicity and transparency to financial services. ![]() What's unique is that Blend is a combination of Software Service and Loan Industry - a Financial/Loan SaaS if you will. Blend Labs averages $5B in banking transactions through its software products daily. Blend has been proving its growth story within a decreasing market. It is currently estimated that the industry-wide mortgage volumes were down around 25% year over year. In its third-quarter results, Blend platform grew 26% YoY to $35.1 million. Since 2019, the total amount of mortgages processed utilizing Blend's platform grew to 13.5%, up from 4.5%. This means a total of 64.78% decline since IPO day. Today, Blend sits at about a $1.7B market cap and, as of 28 December 2021, shares closed at $7.36 per share. On the day it opened, it traded around $20 per share. Prior to its opening on the NYSE, it was priced around $18 per share. Basics Of Blendīlend Labs went public on the New York Stock Exchange (NYSE) on July 16th, 2021 and is a notable fast-growing company to IPO in 2021. Even if 2022 serves as a flat year for the share price, I see the business model taking more market share, especially as Blend takes advantage of implementing and expanding the Title365 acquisition. Once the market realizes they valued Blend wrong, I see shares returning to IPO levels quickly. The pullback in the company's share price offers a great entry price for an investor with a long-term horizon. Throughout this write-up I will cover the basics of Blend, the strange valuation concerns that relate to why Blend Labs share price has dropped, and the numerous investing risks associated with Blend Labs. Click here to find out more »Īnyaberkut/iStock via Getty Images Thesisĭown 64% year to date, Blend Labs ( NYSE: BLND) has more upside than downside at these levels. Active contributors also get free access to SA Premium. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. was incorporated in 2012 and is headquartered in San Francisco, California.Editor's note: Seeking Alpha is proud to welcome Tyler Maryott as a new contributor. ![]() It serves banks, credit unions, financial technology companies, and non-bank mortgage lenders. In addition, the company, through its subsidiary, offers title search procedures for title insurance policies, escrow, and other closing and settlement services, as well as other trustee services and provides professional and consulting services. It also offers verification components to automate confirmation tasks that are needed to underwrite a loan or approve the opening of a new deposit account decisioning components to reduce the need for human intervention by automatically applying business rules throughout an application workflow configured by a financial services firm workflow intelligence components to manage data collection and automate tasks throughout the loan origination process and marketplace components to enable consumers to shop for products and services presented at the precise moment of need during an application for a loan. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty. It operates in two segments, Blend Platform and Title365. engages in the provision of cloud-based software platform solutions for financial services firms in the United States.
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