Blend Labs, Inc. (NYSE:BLND) Receives $4.90 Average Target Price from Analysts

Shares of Blend Labs, Inc. (NYSE:BLND - Get Free Report) have been given an average rating of "Moderate Buy" by the nine ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $4.90.

A number of analysts have issued reports on the company. The Goldman Sachs Group cut their target price on Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a research report on Monday, May 12th. Wells Fargo & Company reduced their price target on shares of Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. UBS Group dropped their price objective on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a report on Friday, February 28th. JMP Securities reaffirmed a "market outperform" rating and set a $7.00 target price on shares of Blend Labs in a research note on Wednesday, May 28th. Finally, Keefe, Bruyette & Woods upped their price objective on Blend Labs from $3.50 to $4.00 and gave the stock a "market perform" rating in a research report on Monday, May 19th.

Institutional Investors Weigh In On Blend Labs

Hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System boosted its holdings in Blend Labs by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 189,417 shares of the company's stock valued at $797,000 after purchasing an additional 3,049 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Blend Labs by 6.1% during the 1st quarter. Arizona State Retirement System now owns 61,485 shares of the company's stock worth $206,000 after buying an additional 3,559 shares during the last quarter. PFG Advisors boosted its holdings in shares of Blend Labs by 6.3% in the 4th quarter. PFG Advisors now owns 67,762 shares of the company's stock valued at $285,000 after buying an additional 3,986 shares in the last quarter. Summit Trail Advisors LLC grew its position in shares of Blend Labs by 38.1% in the 4th quarter. Summit Trail Advisors LLC now owns 17,947 shares of the company's stock valued at $76,000 after buying an additional 4,953 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Blend Labs by 0.5% during the 1st quarter. Deutsche Bank AG now owns 1,209,057 shares of the company's stock worth $4,050,000 after acquiring an additional 5,546 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

Blend Labs Stock Up 0.1%

BLND stock traded up $0.01 during mid-day trading on Friday, hitting $3.59. 1,601,565 shares of the company were exchanged, compared to its average volume of 3,011,897. Blend Labs has a 12-month low of $2.08 and a 12-month high of $5.53. The firm has a market capitalization of $930.89 million, a P/E ratio of -10.54 and a beta of 1.30. The business has a fifty day simple moving average of $3.39 and a 200-day simple moving average of $3.79.

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.