Blend Labs, Inc. (NYSE:BLND) Receives Consensus Rating of “Hold” from Brokerages

Shares of Blend Labs, Inc. (NYSE:BLND) have received a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $3.3167.

A number of research firms recently commented on BLND. Wells Fargo & Company reduced their price objective on Blend Labs from $5.00 to $4.00 and set an “overweight” rating for the company in a research report on Wednesday, March 11th. The Goldman Sachs Group set a $3.50 price objective on Blend Labs in a research report on Friday, May 8th. UBS Group reduced their price objective on Blend Labs from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Wednesday, March 11th. Canaccord Genuity Group reduced their price objective on Blend Labs from $5.25 to $4.50 and set a “buy” rating for the company in a research report on Friday, May 15th. Finally, Weiss Ratings cut Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd.

Blend Labs Stock Performance

Blend Labs stock opened at $1.61 on Thursday. The stock has a market cap of $388.60 million, a PE ratio of -16.05 and a beta of 1.09. Blend Labs has a one year low of $1.18 and a one year high of $4.49. The stock has a fifty day moving average of $1.56 and a 200 day moving average of $2.10.

Institutional Trading of Blend Labs

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. PFG Advisors increased its position in Blend Labs by 4.9% in the fourth quarter. PFG Advisors now owns 78,956 shares of the company’s stock worth $240,000 after buying an additional 3,684 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in Blend Labs by 18.4% in the third quarter. Moneta Group Investment Advisors LLC now owns 33,922 shares of the company’s stock worth $124,000 after buying an additional 5,265 shares in the last quarter. Covestor Ltd increased its position in Blend Labs by 40.1% in the fourth quarter. Covestor Ltd now owns 18,909 shares of the company’s stock worth $57,000 after buying an additional 5,409 shares in the last quarter. Barclays PLC increased its position in Blend Labs by 1.5% in the fourth quarter. Barclays PLC now owns 397,203 shares of the company’s stock worth $1,207,000 after buying an additional 6,001 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Blend Labs by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,961 shares of the company’s stock worth $371,000 after buying an additional 7,368 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

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.