Blend Labs, Inc. (NYSE:BLND) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Blend Labs, Inc. (NYSE:BLND - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $4.83.

BLND has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their target price on 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. UBS Group cut their target price on Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group cut their target price on Blend Labs from $5.60 to $4.80 and set a "buy" rating for the company in a research note on Monday, May 12th. Canaccord Genuity Group reissued a "buy" rating and set a $5.25 target price on shares of Blend Labs in a research note on Monday, May 12th. Finally, Wells Fargo & Company cut their target price on Blend Labs from $6.00 to $5.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd.

Institutional Investors Weigh In On Blend Labs

Several institutional investors and hedge funds have recently modified their holdings of BLND. Franklin Resources Inc. purchased a new stake in shares of Blend Labs in the 3rd quarter valued at $2,463,000. Principal Financial Group Inc. raised its holdings in shares of Blend Labs by 697.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company's stock valued at $10,249,000 after buying an additional 2,390,337 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Blend Labs by 193.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,714,955 shares of the company's stock valued at $6,431,000 after buying an additional 1,130,706 shares during the period. Revolve Wealth Partners LLC acquired a new position in Blend Labs during the 4th quarter worth $132,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in Blend Labs during the 4th quarter worth $114,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Blend Labs Price Performance

Shares of NYSE:BLND traded up $0.03 during midday trading on Wednesday, hitting $3.67. The company had a trading volume of 1,811,348 shares, compared to its average volume of 2,978,455. Blend Labs has a twelve month low of $2.08 and a twelve month high of $5.53. The stock has a market cap of $951.66 million, a price-to-earnings ratio of -10.78 and a beta of 1.29. The business's 50-day simple moving average is $3.38 and its 200-day simple moving average is $3.88.

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.