Blend Labs (NYSE:BLND) Upgraded by Zacks Research to “Hold” Rating

Blend Labs (NYSE:BLND) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other brokerages also recently weighed in on BLND. Citizens Jmp reaffirmed a “market outperform” rating and set a $4.00 target price on shares of Blend Labs in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods dropped their price target on Blend Labs from $2.25 to $1.90 and set a “market perform” rating on the stock in a research report on Friday, May 8th. The Goldman Sachs Group set a $3.00 price objective on Blend Labs in a research report on Friday, August 7th. Canaccord Genuity Group lowered their price objective on Blend Labs from $4.50 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Finally, Citigroup reiterated a “market outperform” rating on shares of Blend Labs in a research note on Tuesday, July 21st. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.82.

Blend Labs Price Performance

Shares of Blend Labs stock opened at $1.50 on Tuesday. The company has a 50-day moving average of $1.71 and a 200 day moving average of $1.68. The firm has a market cap of $353.58 million, a price-to-earnings ratio of -16.61 and a beta of 1.09. Blend Labs has a 1 year low of $1.18 and a 1 year high of $4.49.

Institutional Investors Weigh In On Blend Labs

A number of institutional investors have recently made changes to their positions in the company. Essential Partners LLC raised its holdings in Blend Labs by 21,768.1% in the 1st quarter. Essential Partners LLC now owns 15,745 shares of the company’s stock worth $27,000 after acquiring an additional 15,673 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Blend Labs during the 3rd quarter valued at $32,000. Captrust Financial Advisors purchased a new stake in Blend Labs during the 2nd quarter valued at $35,000. Jump Financial LLC bought a new stake in shares of Blend Labs in the 2nd quarter worth $38,000. Finally, Cibc World Markets Corp bought a new stake in shares of Blend Labs in the 4th quarter worth $40,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

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.