Blend Labs, Inc. (NYSE:BLND) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Blend Labs, Inc. (NYSE:BLND - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the nine brokerages that are currently covering the firm, MarketBeat Ratings 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 12 month price target among brokerages that have issued a report on the stock in the last year is $4.90.

Several equities research analysts recently commented on the company. 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. JMP Securities reiterated a "market outperform" rating and set a $7.00 price objective on shares of Blend Labs in a research note on Wednesday, May 28th. The Goldman Sachs Group decreased their target price on shares of Blend Labs from $5.60 to $4.80 and set a "buy" rating for the company in a research note on Monday, May 12th. UBS Group lowered their price target 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. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $5.25 price objective on shares of Blend Labs in a report on Monday, May 12th.

Institutional Inflows and Outflows

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

Blend Labs Trading Up 0.8%

Shares of BLND stock opened at $3.75 on Friday. The company has a market cap of $973.73 million, a PE ratio of -11.03 and a beta of 1.30. The company's fifty day simple moving average is $3.39 and its 200-day simple moving average is $3.81. Blend Labs has a 52 week low of $2.08 and a 52 week high of $5.53.

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.

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