Blend Labs, Inc. (NYSE:BLND) Receives Average Recommendation of “Hold” from Analysts

Shares of Blend Labs, Inc. (NYSE:BLND) have received an average recommendation of “Hold” from the eight research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $3.3167.

Several brokerages recently weighed in on BLND. Weiss Ratings downgraded Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Canaccord Genuity Group cut their price target on Blend Labs from $5.25 to $4.50 and set a “buy” rating for the company in a report on Friday, May 15th. Zacks Research downgraded shares of Blend Labs from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Citigroup reaffirmed a “market outperform” rating on shares of Blend Labs in a research report on Tuesday, July 21st. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $4.00 target price on shares of Blend Labs in a research note on Tuesday, July 21st.

Institutional Investors Weigh In On Blend Labs

Institutional investors and hedge funds have recently bought and sold shares of the business. Royce & Associates LP increased its holdings in shares of Blend Labs by 18.4% during the fourth quarter. Royce & Associates LP now owns 1,978,135 shares of the company’s stock worth $6,014,000 after buying an additional 306,895 shares in the last quarter. Irenic Capital Management LP acquired a new stake in shares of Blend Labs during the 4th quarter worth approximately $9,469,000. Tudor Investment Corp ET AL lifted its stake in shares of Blend Labs by 81.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,300,087 shares of the company’s stock valued at $4,745,000 after purchasing an additional 581,622 shares during the period. Whetstone Capital Advisors LLC bought a new position in Blend Labs during the fourth quarter worth about $3,560,000. Finally, Kazazian Asset Management LLC acquired a new position in Blend Labs during the fourth quarter valued at approximately $1,172,000. Institutional investors own 52.56% of the company’s stock.

Blend Labs Stock Down 2.7%

Shares of Blend Labs stock opened at $1.96 on Friday. Blend Labs has a 12-month low of $1.17 and a 12-month high of $4.49. The stock has a 50 day moving average price of $1.75 and a two-hundred day moving average price of $1.76. The stock has a market capitalization of $473.34 million, a P/E ratio of -19.55 and a beta of 1.09.

Blend Labs (NYSE:BLND) last posted its earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The company had revenue of $33.84 million for the quarter, compared to analyst estimates of $33.08 million. Sell-side analysts anticipate that Blend Labs will post -0.05 earnings per share for the current year.

Blend Labs Company Profile

Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend’s platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.

The company’s product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.