Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

LENNAR CORPORATION

(LEN)
  Report
Delayed Quote. Delayed Nyse - 10/26 04:10:00 pm
100.45 USD   +0.14%
06:16aNORTH AMERICAN MORNING BRIEFING : Stock Futures Rise Ahead of Tech Earnings
DJ
10/18Consumer Stocks Lower Pre-Bell Monday
MT
10/15LENNAR : Expands Share Buyback Program
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Blend Labs valued at over $4 bln as shares rise in debut

07/16/2021 | 12:37pm EDT

July 16 (Reuters) - Shares of Blend Labs Inc opened 11% above their offer price on Friday, giving the digital banking platform a valuation of about $4.4 billion in its stock market debut.

Digital channels for banking services have experienced an uptick in demand since last year, when the pandemic accelerated the shift away from brick-and-mortar branches.

The market cap of the company, which is focused on mortgage-lending, is now at least 33% more than the $3.3 billion it was valued at after a funding round in January.

Blend is a cloud-based software platform that digitizes banking and makes the borrowing of money or depositing cash easy. On average, more than $5 billion in transactions are processed through its platform every day.

"There will be a short-term headwind when interest rates start coming up, but the general trend towards digitization will help the company in the long term," said co-founder and head Nima Ghamsari in an interview with Reuters.

Rising interest rates often lead to high loan rates, which could hurt appetite for borrowing and dampen the volume of transactions on Blend's platform.

The company plans to focus on its core market, the United States, and has no immediate plans to expand geographically, Ghamsari said.

Blend, which has never been profitable, raised $360 million in its IPO, selling 18 million shares at $18 each. The price was at the upper end of the $16 to $18 range announced earlier. The stock opened at $20 per share.

It had filed confidentially for its listing in April.

The San Francisco-based company had 291 customers, including Wells Fargo & Co and Lennar Mortgage, as of last year.

Goldman Sachs & Co, Allen & Company and Wells Fargo Securities were the lead underwriters for the offering.

(Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli and Amy Caren Daniel)


ę Reuters 2021
All news about LENNAR CORPORATION
06:16aNORTH AMERICAN MORNING BRIEFING : Stock Futures Rise Ahead of Tech Earnings
DJ
10/18Consumer Stocks Lower Pre-Bell Monday
MT
10/15LENNAR : Expands Share Buyback Program
MT
10/15Lennar Corporation announces an Increase in Equity Buyback.
CI
10/14LENNAR : JPMorgan Adjusts Lennar PT to $127 From $143, Maintains Overweight Rating
MT
10/13LENNAR CORPORATION : Ex-dividend day for
FA
10/06Hovnanian Enterprises Scales Back Fiscal 2021 Operating Earnings, Sales Projections Ami..
MT
10/01LENNAR : NEW/ Management's Discussion and Analysis of Financial Condition and Results of O..
AQ
09/29LENNAR : Keeps Quarterly Dividend Steady at $0.25 per Share, Pay Date Oct. 28, Record Date..
MT
09/29Lennar Corporation Declares Quarterly Cash Dividend on Class A and Class B Common Stock..
CI
More news
Analyst Recommendations on LENNAR CORPORATION
More recommendations
Financials (USD)
Sales 2021 27 196 M - -
Net income 2021 4 511 M - -
Net Debt 2021 1 201 M - -
P/E ratio 2021 6,91x
Yield 2021 0,88%
Capitalization 30 393 M 30 393 M -
EV / Sales 2021 1,16x
EV / Sales 2022 0,90x
Nbr of Employees 9 495
Free-Float 82,9%
Chart LENNAR CORPORATION
Duration : Period :
Lennar Corporation Technical Analysis Chart | LEN | US5260571048 | MarketScreener
Technical analysis trends LENNAR CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 100,45 $
Average target price 118,93 $
Spread / Average Target 18,4%
EPS Revisions
Managers and Directors
Jonathan M. Jaffe Co-President, Co-CEO & Director
Richard Beckwitt Co-President, Co-CEO & Director
Diane J. Bessette Chief Financial Officer, Treasurer & VP
Stuart A. Miller Executive Chairman
Fred B. Rothman Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
LENNAR CORPORATION31.84%30 370
NVR, INC.19.50%17 136
MERITAGE HOMES CORPORATION25.71%4 022
M.D.C. HOLDINGS, INC.2.45%3 585
TRI POINTE HOMES, INC.42.61%2 734
M/I HOMES, INC.40.42%1 823