Brokerages Set Blend Labs, Inc. (NYSE:BLND) PT at $4.80

Shares of Blend Labs, Inc. (NYSE:BLND) have received an average rating of “Hold” from the seven research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $4.1333.

BLND has been the topic of several recent research reports. UBS Group dropped their price target on shares of Blend Labs from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wall Street Zen raised Blend Labs from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Wells Fargo & Company dropped their target price on Blend Labs from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Wednesday. Citizens Jmp cut their target price on Blend Labs from $7.00 to $5.00 and set a “market outperform” rating on the stock in a research report on Wednesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Blend Labs in a report on Wednesday, January 21st.

Insider Activity

In other news, insider Brian Kneafsey sold 25,000 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $3.06, for a total value of $76,500.00. Following the completion of the sale, the insider owned 649,824 shares in the company, valued at $1,988,461.44. This represents a 3.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 33,125 shares of company stock valued at $93,169. Corporate insiders own 35.52% of the company’s stock.

Institutional Investors Weigh In On Blend Labs

A number of institutional investors have recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new position in shares of Blend Labs in the 4th quarter worth approximately $132,000. AQR Capital Management LLC lifted its holdings in Blend Labs by 32.2% during the first quarter. AQR Capital Management LLC now owns 883,296 shares of the company’s stock worth $2,959,000 after acquiring an additional 214,998 shares during the period. Savant Capital LLC lifted its holdings in Blend Labs by 72.2% during the second quarter. Savant Capital LLC now owns 29,694 shares of the company’s stock worth $98,000 after acquiring an additional 12,452 shares during the period. Creative Planning boosted its position in Blend Labs by 81.4% in the second quarter. Creative Planning now owns 34,036 shares of the company’s stock worth $112,000 after purchasing an additional 15,276 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Blend Labs in the second quarter worth $37,000. 52.56% of the stock is owned by institutional investors.

Blend Labs Trading Down 4.0%

Shares of BLND stock opened at $1.55 on Tuesday. The firm has a market capitalization of $401.31 million, a PE ratio of -15.45 and a beta of 1.27. The firm has a fifty day simple moving average of $2.25 and a two-hundred day simple moving average of $2.98. Blend Labs has a 12 month low of $1.54 and a 12 month high of $4.49.

Blend Labs (NYSE:BLND) last released its quarterly earnings data on Tuesday, March 10th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). The business had revenue of $32.37 million for the quarter, compared to analysts’ expectations of $31.78 million. On average, equities analysts predict that Blend Labs will post -0.19 earnings per share for the current fiscal 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.