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

by · The Markets Daily

Shares of Blend Labs, Inc. (NYSE:BLND – Get Free Report) 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.

Check Out Our Latest Stock Analysis on Blend Labs

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

(Get Free Report)

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.

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