Blend Labs, Inc. (NYSE:BLND) Receives $4.80 Consensus Price Target from Analysts

Shares of Blend Labs, Inc. (NYSE:BLND) have earned an average rating of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $4.80.

A number of research firms recently commented on BLND. Keefe, Bruyette & Woods lowered their price target on shares of Blend Labs from $4.00 to $3.75 and set a “market perform” rating on the stock in a research report on Friday, August 8th. Wall Street Zen raised Blend Labs from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Blend Labs in a research report on Wednesday, October 8th. UBS Group decreased their price target on Blend Labs from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.25 price objective on shares of Blend Labs in a research report on Tuesday, October 28th.

Insider Buying and Selling at Blend Labs

In related news, insider Brian Kneafsey sold 25,000 shares of Blend Labs stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $3.34, for a total value of $83,500.00. Following the transaction, the insider directly owned 687,909 shares of the company’s stock, valued at $2,297,616.06. This trade represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 35.52% of the company’s stock.

Institutional Investors Weigh In On Blend Labs

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new position in Blend Labs in the 3rd quarter worth about $82,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Blend Labs during the third quarter worth about $32,000. Wexford Capital LP acquired a new position in shares of Blend Labs in the third quarter valued at approximately $45,000. Verition Fund Management LLC raised its holdings in Blend Labs by 16.5% in the 3rd quarter. Verition Fund Management LLC now owns 298,439 shares of the company’s stock valued at $1,089,000 after buying an additional 42,236 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC bought a new position in Blend Labs in the 3rd quarter valued at approximately $4,490,000. Institutional investors own 52.56% of the company’s stock.

Blend Labs Price Performance

Shares of NYSE BLND opened at $3.11 on Friday. Blend Labs has a one year low of $2.50 and a one year high of $5.53. The firm has a market cap of $806.52 million, a price-to-earnings ratio of -31.05 and a beta of 1.23. The stock’s fifty day moving average price is $3.27 and its two-hundred day moving average price is $3.44.

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.