Blend Labs, Inc. (NYSE:BLND) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Blend Labs has an average analyst recommendation of “Hold” from seven covering firms, with four buy ratings, two hold ratings, and one sell rating. The average 1-year price target is about $3.32.
• Several recent analyst updates were mixed: Citizens JMP cut its target to $4.00, Keefe, Bruyette & Woods lowered theirs to $1.90, and Goldman Sachs set a $3.50 price objective. Weiss Ratings also downgraded the stock.
• The stock opened at $1.70, well below its 52-week high of $4.49, with a market cap of about $410 million. Institutional investors own 52.56% of the company, and several funds recently increased or initiated positions.

Shares of Blend Labs, Inc. (NYSE:BLND - Get Free Report) have been given an average rating of "Hold" by the seven ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given 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.

BLND has been the topic of a number of recent research reports. Citizens Jmp decreased their target price on Blend Labs from $5.00 to $4.00 and set a "market outperform" rating on the stock in a research report on Friday, May 8th. Keefe, Bruyette & Woods cut their price target on Blend Labs from $2.25 to $1.90 and set a "market perform" rating for the company in a report on Friday, May 8th. Weiss Ratings downgraded Blend Labs from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 2nd. Citigroup reissued an "outperform" rating on shares of Blend Labs in a report on Friday, May 8th. Finally, The Goldman Sachs Group set a $3.50 price objective on Blend Labs in a research report on Friday, May 8th.

Blend Labs Stock Performance

NYSE:BLND opened at $1.70 on Monday. The firm's 50-day moving average is $1.63 and its 200-day moving average is $1.93. Blend Labs has a 52-week low of $1.18 and a 52-week high of $4.49. The company has a market cap of $410.39 million, a price-to-earnings ratio of -16.95 and a beta of 1.10.

Institutional Investors Weigh In On Blend Labs

Institutional investors and hedge funds have recently bought and sold shares of the business. Westmount Partners LLC acquired a new position in shares of Blend Labs in the 2nd quarter valued at $77,000. Caerus Investment Advisors LLC acquired a new stake in shares of Blend Labs during the 1st quarter valued at about $41,000. Essential Partners LLC boosted its position in shares of Blend Labs by 21,768.1% during the 1st quarter. Essential Partners LLC now owns 15,745 shares of the company's stock valued at $27,000 after acquiring an additional 15,673 shares in the last quarter. Bank of America Corp DE increased its stake in Blend Labs by 6.8% in the first quarter. Bank of America Corp DE now owns 340,757 shares of the company's stock valued at $579,000 after acquiring an additional 21,713 shares during the period. Finally, Rice Hall James & Associates LLC increased its stake in Blend Labs by 14.0% in the first quarter. Rice Hall James & Associates LLC now owns 1,006,289 shares of the company's stock valued at $1,711,000 after acquiring an additional 123,699 shares during the period. Institutional investors own 52.56% of the company's stock.

About Blend Labs

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.