Analysts Set Blend Labs, Inc. (NYSE:BLND) Target Price at $3.32

Blend Labs, Inc. (NYSE:BLND) has been given an average rating of “Hold” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $3.3167.

A number of brokerages have issued reports on BLND. Citigroup reiterated an “outperform” rating on shares of Blend Labs in a report on Friday, May 8th. Citizens Jmp reduced their price target on shares of Blend Labs from $5.00 to $4.00 and set a “market outperform” rating on the stock in a report on Friday, May 8th. Weiss Ratings raised shares of Blend Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. Wells Fargo & Company dropped their price objective on shares of Blend Labs from $5.00 to $4.00 and set an “overweight” rating for the company in a research note on Wednesday, March 11th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Blend Labs from $2.25 to $1.90 and set a “market perform” rating for the company in a research note on Friday, May 8th.

Hedge Funds Weigh In On Blend Labs

A number of institutional investors and hedge funds have recently made changes to their positions in BLND. Revolve Wealth Partners LLC purchased a new position in shares of Blend Labs in the 4th quarter worth $132,000. AQR Capital Management LLC grew its stake in shares of Blend Labs by 32.2% in the 1st quarter. AQR Capital Management LLC now owns 883,296 shares of the company’s stock worth $2,959,000 after buying an additional 214,998 shares in the last quarter. Creative Planning grew its stake in shares of Blend Labs by 81.4% in the 2nd quarter. Creative Planning now owns 34,036 shares of the company’s stock worth $112,000 after buying an additional 15,276 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Blend Labs by 18.4% in the 2nd quarter. Legal & General Group Plc now owns 241,030 shares of the company’s stock worth $795,000 after buying an additional 37,373 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Blend Labs by 587.0% in the 2nd quarter. Prudential Financial Inc. now owns 123,220 shares of the company’s stock worth $407,000 after buying an additional 105,285 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Blend Labs Stock Performance

Shares of NYSE BLND opened at $1.73 on Friday. The company has a market cap of $417.66 million, a P/E ratio of -17.25 and a beta of 1.03. The firm’s fifty day moving average is $1.58 and its two-hundred day moving average is $2.24. Blend Labs has a 52-week low of $1.18 and a 52-week high of $4.49.

About Blend Labs

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.