Blend Labs, Inc. (NYSE:BLND - Get Free Report) has been given a consensus recommendation of "Hold" by the eight brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $3.3167.
Several brokerages recently weighed in on BLND. The Goldman Sachs Group set a $3.50 price objective on shares of Blend Labs in a research report on Friday, May 8th. Canaccord Genuity Group dropped their price target on shares of Blend Labs from $5.25 to $4.50 and set a "buy" rating on the stock in a research note on Friday, May 15th. Citizens Jmp reaffirmed a "market outperform" rating and set a $4.00 price target on shares of Blend Labs in a report on Tuesday, July 21st. Zacks Research downgraded Blend Labs from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Finally, Keefe, Bruyette & Woods lowered their target price on Blend Labs from $2.25 to $1.90 and set a "market perform" rating on the stock in a research report on Friday, May 8th.
View Our Latest Stock Report on Blend Labs
Blend Labs Price Performance
NYSE:BLND opened at $1.96 on Friday. The firm has a 50-day moving average of $1.75 and a two-hundred day moving average of $1.76. The stock has a market cap of $473.34 million, a P/E ratio of -19.55 and a beta of 1.09. Blend Labs has a 1-year low of $1.17 and a 1-year high of $4.49.
Blend Labs (NYSE:BLND - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). The firm had revenue of $33.84 million for the quarter, compared to the consensus estimate of $33.08 million. As a group, equities analysts expect that Blend Labs will post -0.05 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Blend Labs in the 3rd quarter valued at approximately $32,000. Captrust Financial Advisors acquired a new stake in Blend Labs in the second quarter valued at approximately $35,000. Jump Financial LLC acquired a new stake in Blend Labs in the second quarter valued at approximately $38,000. Wexford Capital LP bought a new stake in Blend Labs in the third quarter worth approximately $45,000. Finally, Cibc World Markets Corp bought a new stake in Blend Labs in the fourth quarter worth approximately $40,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.
Blend Labs Company Profile
(
Get Free Report)
Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend's platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.
The company's product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.
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