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Brokerages Set Blend Labs, Inc. (NYSE:BLND) Price Target at $4.90

Blend Labs logo with Computer and Technology background

Shares of Blend Labs, Inc. (NYSE:BLND - Get Free Report) have earned a consensus rating of "Moderate Buy" from the nine research firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $4.90.

Several analysts recently commented on BLND shares. JMP Securities reaffirmed a "market outperform" rating and set a $7.00 target price on shares of Blend Labs in a report on Wednesday, May 28th. Keefe, Bruyette & Woods raised their target price on Blend Labs from $3.50 to $4.00 and gave the stock a "market perform" rating in a report on Monday, May 19th. The Goldman Sachs Group dropped their target price on Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a report on Monday, May 12th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $5.25 target price on shares of Blend Labs in a report on Monday, May 12th. Finally, Wells Fargo & Company dropped their target price on Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd.

Check Out Our Latest Stock Analysis on Blend Labs

Insider Buying and Selling

In other Blend Labs news, insider Brian Kneafsey sold 20,000 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $3.31, for a total transaction of $66,200.00. Following the transaction, the insider owned 786,598 shares in the company, valued at approximately $2,603,639.38. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nima Ghamsari sold 75,720 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $3.30, for a total value of $249,876.00. Following the transaction, the insider owned 6,065,937 shares in the company, valued at $20,017,592.10. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,850 shares of company stock worth $534,814 in the last quarter. 35.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BLND. JPL Wealth Management LLC purchased a new position in Blend Labs in the 4th quarter worth approximately $42,000. Merit Financial Group LLC purchased a new stake in shares of Blend Labs in the first quarter valued at approximately $36,000. Balyasny Asset Management L.P. acquired a new stake in shares of Blend Labs in the fourth quarter valued at approximately $46,000. Crescent Park Management L.P. purchased a new position in Blend Labs during the first quarter worth approximately $43,000. Finally, BBR Partners LLC purchased a new position in Blend Labs during the fourth quarter worth approximately $60,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Blend Labs Stock Performance

Blend Labs stock traded up $0.10 during midday trading on Thursday, hitting $3.52. 1,034,229 shares of the company were exchanged, compared to its average volume of 2,906,277. The firm has a market capitalization of $913.74 million, a PE ratio of -17.59 and a beta of 1.24. Blend Labs has a fifty-two week low of $2.27 and a fifty-two week high of $5.53. The business has a fifty day simple moving average of $3.45 and a two-hundred day simple moving average of $3.56.

Blend Labs Company Profile

(Get Free Report

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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