Blend Labs, Inc. (NYSE:BLND) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Blend Labs, Inc. (NYSE:BLND) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $3.94.

Several analysts have weighed in on BLND shares. Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and boosted their target price for the company from $3.00 to $4.75 in a research note on Monday, August 12th. William Blair upgraded Blend Labs from a “market perform” rating to an “outperform” rating in a research note on Friday, August 9th. UBS Group upped their target price on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday. Keefe, Bruyette & Woods raised their price target on Blend Labs from $3.00 to $3.25 and gave the stock a “market perform” rating in a report on Monday, August 12th. Finally, The Goldman Sachs Group upped their price objective on Blend Labs from $3.00 to $3.40 and gave the stock a “buy” rating in a research note on Friday, August 9th.

Blend Labs Stock Performance

Shares of Blend Labs stock opened at $3.35 on Friday. Blend Labs has a 1 year low of $1.15 and a 1 year high of $4.25. The firm’s 50-day simple moving average is $3.67 and its 200-day simple moving average is $3.06. The firm has a market cap of $845.47 million, a PE ratio of -5.78 and a beta of 1.15.

Blend Labs (NYSE:BLND) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $40.48 million for the quarter, compared to analyst estimates of $39.50 million. On average, equities analysts predict that Blend Labs will post -0.27 earnings per share for the current year.

Insider Buying and Selling

In other Blend Labs news, insider Winnie Ling sold 10,000 shares of Blend Labs stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $4.06, for a total transaction of $40,600.00. Following the sale, the insider now owns 279,169 shares of the company’s stock, valued at $1,133,426.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 54,303 shares of company stock valued at $192,926 in the last three months. 11.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Blend Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in BLND. Dark Forest Capital Management LP bought a new position in shares of Blend Labs in the second quarter valued at approximately $31,000. Xponance Inc. bought a new position in Blend Labs during the 2nd quarter valued at $35,000. Caxton Associates LP bought a new stake in shares of Blend Labs in the 1st quarter worth $60,000. SG Americas Securities LLC bought a new stake in shares of Blend Labs in the 1st quarter worth $70,000. Finally, Team Hewins LLC bought a new stake in shares of Blend Labs in the 1st quarter worth $87,000. 52.56% of the stock is currently owned by institutional investors.

About Blend Labs

Blend Labs, Inc engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty.