Analysts Set Blend Labs, Inc. (NYSE:BLND) Target Price at $3.93

Shares of Blend Labs, Inc. (NYSE:BLND) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $3.93.

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

Insiders Place Their Bets

In other Blend Labs news, insider Winnie Ling sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $3.33, for a total value of $66,600.00. Following the transaction, the insider now directly owns 286,416 shares in the company, valued at $953,765.28. This represents 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 have sold 34,303 shares of company stock worth $124,326 in the last three months. Corporate insiders own 11.83% of the company’s stock.

Hedge Funds Weigh In On Blend Labs

Hedge funds and other institutional investors have recently modified their holdings of the business. Dark Forest Capital Management LP bought a new position in shares of Blend Labs during the second quarter valued at approximately $31,000. Xponance Inc. bought a new position in shares of Blend Labs during the second quarter valued at approximately $35,000. Caxton Associates LP bought a new position in shares of Blend Labs during the first quarter valued at approximately $60,000. Cannon Global Investment Management LLC bought a new position in shares of Blend Labs during the first quarter valued at approximately $65,000. Finally, Berylson Capital Partners LLC bought a new position in shares of Blend Labs during the fourth quarter valued at approximately $52,000. 52.56% of the stock is currently owned by institutional investors.

Blend Labs Trading Down 0.8 %

Shares of NYSE BLND opened at $3.62 on Tuesday. The firm’s 50-day moving average price is $3.54 and its 200-day moving average price is $3.01. The stock has a market capitalization of $913.61 million, a price-to-earnings ratio of -6.24 and a beta of 1.15. Blend Labs has a 12-month low of $1.14 and a 12-month high of $4.25.

Blend Labs (NYSE:BLND) last announced its earnings results 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 analysts’ expectations of $39.50 million. Blend Labs had a negative net margin of 77.63% and a negative return on equity of 595.99%. On average, equities analysts predict that Blend Labs will post -0.27 EPS for the current fiscal year.

Blend Labs Company Profile

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.