Blend Labs (NYSE:BLND) Cut to Strong Sell at Zacks Research

Blend Labs (NYSE:BLND) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Several other research analysts also recently commented on BLND. The Goldman Sachs Group set a $3.50 price objective on shares of Blend Labs in a report on Friday, May 8th. Weiss Ratings downgraded Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Canaccord Genuity Group dropped their price target on Blend Labs from $5.25 to $4.50 and set a “buy” rating for the company in a research note on Friday, May 15th. Citigroup restated an “outperform” rating on shares of Blend Labs in a report on Friday, May 8th. Finally, Citizens Jmp reduced their price objective on Blend Labs from $5.00 to $4.00 and set a “market outperform” rating on the stock in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.32.

Blend Labs Stock Performance

BLND opened at $1.78 on Monday. The stock has a market capitalization of $432.18 million, a price-to-earnings ratio of -17.85 and a beta of 1.10. The company has a fifty day moving average of $1.64 and a 200 day moving average of $1.92. Blend Labs has a fifty-two week low of $1.18 and a fifty-two week high of $4.49.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Essential Partners LLC increased its position in shares of Blend Labs by 21,768.1% during the 1st quarter. Essential Partners LLC now owns 15,745 shares of the company’s stock valued at $27,000 after purchasing an additional 15,673 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Blend Labs in the third quarter worth $32,000. Captrust Financial Advisors bought a new stake in shares of Blend Labs in the 2nd quarter worth about $35,000. South Shore Capital Advisors purchased a new stake in Blend Labs in the 4th quarter worth about $36,000. Finally, Jump Financial LLC purchased a new stake in Blend Labs in the 2nd quarter worth about $38,000. 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.