Blend Labs' (BLND) Buy Rating Reaffirmed at Canaccord Genuity Group

Blend Labs (NYSE:BLND - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $5.25 price objective on the stock. Canaccord Genuity Group's target price would suggest a potential upside of 48.73% from the stock's previous close.

Several other analysts have also recently commented on the stock. UBS Group decreased their price objective on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Friday, February 28th. Keefe, Bruyette & Woods decreased their price objective on shares of Blend Labs from $3.85 to $3.50 and set a "market perform" rating for the company in a research note on Monday, March 3rd. Finally, Wells Fargo & Company decreased their price objective on shares of Blend Labs from $6.00 to $5.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.70.

Blend Labs Stock Up 7.3%

BLND stock opened at $3.53 on Monday. Blend Labs has a 52 week low of $2.08 and a 52 week high of $5.53. The company has a fifty day simple moving average of $3.33 and a two-hundred day simple moving average of $3.88. The firm has a market capitalization of $916.61 million, a P/E ratio of -10.38 and a beta of 1.29.

Blend Labs (NYSE:BLND - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.02). As a group, analysts anticipate that Blend Labs will post -0.19 EPS for the current year.

Hedge Funds Weigh In On Blend Labs

Hedge funds have recently modified their holdings of the business. Lightspeed Management Company L.L.C. acquired a new stake in shares of Blend Labs during the fourth quarter worth $97,366,000. Whitebark Investors LP acquired a new stake in Blend Labs in the fourth quarter valued at $10,895,000. Principal Financial Group Inc. raised its stake in shares of Blend Labs by 697.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company's stock worth $10,249,000 after buying an additional 2,390,337 shares during the last quarter. Mirabella Financial Services LLP acquired a new position in shares of Blend Labs during the 4th quarter worth $6,765,000. Finally, Invesco Ltd. raised its stake in shares of Blend Labs by 1,230.9% during the 4th quarter. Invesco Ltd. now owns 1,576,347 shares of the company's stock worth $6,636,000 after buying an additional 1,457,901 shares during the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

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.

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