Blend Labs' (BLND) "Buy" Rating Reaffirmed at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reaffirmed a buy rating for Blend Labs (NYSE:BLND), setting a target price of $5.25, indicating a potential upside of 51.08% from its previous close.
• Despite the positive outlook from Canaccord, other analysts have varied opinions, with Goldman Sachs reducing its target from $5.60 to $4.80 and UBS Group lowering from $4.00 to $3.50, reflecting a mix of ratings including "strong buy," "buy," and "hold."
• Insider trading activity shows significant sales, with Nima Ghamsari selling 311,886 shares for approximately $904,469, leading to a 5.14% decrease in his position.

Blend Labs (NYSE:BLND - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Canaccord Genuity Group in a research note issued on Friday,Benzinga reports. They currently have a $5.25 price objective on the stock. Canaccord Genuity Group's price target indicates a potential upside of 46.04% from the stock's current price.

Several other equities analysts have also weighed in on BLND. JMP Securities reissued a "market outperform" rating and issued a $7.00 price objective on shares of Blend Labs in a research report on Wednesday, May 28th. Wall Street Zen upgraded shares of Blend Labs from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. The Goldman Sachs Group decreased their price target 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. Keefe, Bruyette & Woods dropped their price target on Blend Labs from $4.00 to $3.75 and set a "market perform" rating on the stock in a report on Friday, August 8th. Finally, UBS Group cut 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, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $4.88.

Blend Labs Trading Up 3.6%

NYSE BLND traded up $0.13 during trading hours on Friday, reaching $3.60. The company's stock had a trading volume of 1,331,786 shares, compared to its average volume of 2,891,184. The business has a 50-day simple moving average of $3.36 and a 200 day simple moving average of $3.42. The stock has a market cap of $933.48 million, a PE ratio of -23.97 and a beta of 1.24. Blend Labs has a 52 week low of $2.63 and a 52 week high of $5.53.

Blend Labs (NYSE:BLND - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.05). The firm had revenue of $31.52 million for the quarter, compared to analyst estimates of $31.93 million. Blend Labs has set its Q3 2025 guidance at EPS. As a group, equities analysts predict that Blend Labs will post -0.19 EPS for the current year.

Insider Buying and Selling at Blend Labs

In other news, insider Brian Kneafsey sold 25,000 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $2.87, for a total transaction of $71,750.00. Following the completion of the transaction, the insider directly owned 696,598 shares in the company, valued at approximately $1,999,236.26. This represents a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nima Ghamsari sold 311,886 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $2.90, for a total value of $904,469.40. Following the transaction, the insider owned 5,754,051 shares in the company, valued at $16,686,747.90. The trade was a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 561,736 shares of company stock worth $1,739,383. Corporate insiders own 35.52% of the company's stock.

Institutional Investors Weigh In On Blend Labs

A number of hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its position in shares of Blend Labs by 1.6% in the 4th quarter. California State Teachers Retirement System now owns 189,417 shares of the company's stock worth $797,000 after buying an additional 3,049 shares during the last quarter. Arizona State Retirement System raised 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 valued at $206,000 after acquiring an additional 3,559 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Blend Labs by 0.5% in the 1st quarter. Deutsche Bank AG now owns 1,209,057 shares of the company's stock valued at $4,050,000 after purchasing an additional 5,546 shares during the period. Quadrant Private Wealth Management LLC lifted its stake in Blend Labs by 7.8% in the first quarter. Quadrant Private Wealth Management LLC now owns 81,801 shares of the company's stock valued at $274,000 after acquiring an additional 5,892 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Blend Labs by 18.4% during the 1st quarter. Mackenzie Financial Corp now owns 41,511 shares of the company's stock worth $139,000 after purchasing an additional 6,444 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

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.