Brokerages Set Blend Labs, Inc. (NYSE:BLND) PT at $3.93

Shares of Blend Labs, Inc. (NYSE:BLND) have received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $3.93.

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

Insider Activity at Blend Labs

In other news, insider Winnie Ling sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $4.06, for a total value of $40,600.00. Following the completion of the sale, the insider now owns 279,169 shares of the company’s stock, valued at $1,133,426.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 34,303 shares of company stock valued at $124,326. 11.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. G2 Investment Partners Management LLC acquired a new position in Blend Labs during the fourth quarter worth about $956,000. Principal Financial Group Inc. acquired a new position in shares of Blend Labs in the second quarter valued at approximately $809,000. ShawSpring Partners LLC boosted its holdings in Blend Labs by 58.7% in the second quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock valued at $15,850,000 after acquiring an additional 2,485,283 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Blend Labs in the first quarter valued at approximately $94,000. Finally, Acadian Asset Management LLC boosted its holdings in Blend Labs by 2,656.9% in the first quarter. Acadian Asset Management LLC now owns 718,274 shares of the company’s stock valued at $2,332,000 after acquiring an additional 692,220 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Blend Labs Price Performance

NYSE:BLND opened at $3.65 on Tuesday. The stock has a market cap of $919.92 million, a P/E ratio of -6.28 and a beta of 1.15. Blend Labs has a one year low of $1.14 and a one year high of $4.25. The company has a fifty day moving average price of $3.52 and a 200 day moving average price of $3.00.

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 analysts’ consensus estimates of ($0.10) by $0.04. Blend Labs had a negative net margin of 77.63% and a negative return on equity of 595.99%. The company had revenue of $40.48 million during the quarter, compared to analysts’ expectations of $39.50 million. As a group, equities research analysts anticipate that Blend Labs will post -0.27 EPS for the current 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.