Blend Labs (NYSE:BLND) Given Market Outperform Rating at JMP Securities

Blend Labs (NYSE:BLND)‘s stock had its “market outperform” rating reissued by equities research analysts at JMP Securities in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $7.00 price target on the stock. JMP Securities’ target price suggests a potential upside of 98.86% from the company’s previous close.

BLND has been the topic of several other research reports. UBS Group cut their price target on shares of Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods lifted their price objective on shares of Blend Labs from $3.50 to $4.00 and gave the company a “market perform” rating in a research report on Monday, May 19th. Wells Fargo & Company lowered their price objective on shares of Blend Labs from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group reduced their price objective on shares of Blend Labs from $5.60 to $4.80 and set a “buy” rating for the company in a research note on Monday, May 12th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $5.25 price objective on shares of Blend Labs in a report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.90.

Blend Labs Stock Down 0.6%

Shares of BLND opened at $3.52 on Wednesday. The company has a 50-day simple moving average of $3.37 and a 200-day simple moving average of $3.86. The company has a market capitalization of $914.01 million, a PE ratio of -10.37 and a beta of 1.29. Blend Labs has a 52-week low of $2.08 and a 52-week high of $5.53.

Institutional Investors Weigh In On Blend Labs

Institutional investors and hedge funds have recently made changes to their positions in the company. JPL Wealth Management LLC purchased a new position in Blend Labs during the fourth quarter valued at $42,000. Merit Financial Group LLC purchased a new stake in shares of Blend Labs during the 1st quarter valued at about $36,000. Balyasny Asset Management L.P. purchased a new stake in Blend Labs in the 4th quarter worth about $46,000. Olympiad Research LP purchased a new position in shares of Blend Labs during the fourth quarter valued at approximately $47,000. Finally, Crescent Park Management L.P. bought a new position in Blend Labs in the 1st quarter worth about $43,000. Institutional investors own 52.56% of the company’s stock.

Blend Labs Company Profile

Blend Labs, Inc engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. 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.