Blend Labs' (BLND) "Buy" Rating Reiterated 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 reissued by investment analysts at Canaccord Genuity Group in a research note issued on Friday,Benzinga reports. They presently have a $5.25 price objective on the stock. Canaccord Genuity Group's price objective indicates a potential upside of 50.65% from the company's previous close.

Several other equities research analysts have also recently weighed in 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 for the company in a research note on Monday, May 12th. JMP Securities restated a "market outperform" rating and set a $7.00 target price on shares of Blend Labs in a research note on Wednesday, May 28th. Wall Street Zen upgraded Blend Labs from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Keefe, Bruyette & Woods lowered their price target on shares of Blend Labs from $4.00 to $3.75 and set a "market perform" rating for the company in a report on Friday, August 8th. Finally, 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, August 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Blend Labs currently has an average rating of "Moderate Buy" and a consensus price target of $4.88.

Blend Labs Trading Down 2.7%

NYSE BLND traded down $0.10 on Friday, hitting $3.49. 4,792,227 shares of the company's stock were exchanged, compared to its average volume of 2,899,706. The stock has a 50-day moving average of $3.36 and a 200-day moving average of $3.42. Blend Labs has a 52 week low of $2.63 and a 52 week high of $5.53. The stock has a market cap of $904.92 million, a price-to-earnings ratio of -23.23 and a beta of 1.24.

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

Insiders Place Their Bets

In related news, insider Brian Kneafsey sold 25,000 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $2.87, for a total value of $71,750.00. Following the completion of the sale, the insider directly owned 696,598 shares in the company, valued at $1,999,236.26. This represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nima Ghamsari sold 311,886 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $2.90, for a total value of $904,469.40. Following the completion of the sale, the insider owned 5,754,051 shares of the company's stock, 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. Insiders sold 561,736 shares of company stock valued at $1,739,383 over the last 90 days. 35.52% of the stock is currently owned by company insiders.

Institutional Trading of Blend Labs

Large investors have recently bought and sold shares of the business. Merit Financial Group LLC acquired a new stake in Blend Labs during the 1st quarter worth about $36,000. Captrust Financial Advisors acquired a new stake in Blend Labs during the 2nd quarter worth about $35,000. Balyasny Asset Management L.P. acquired a new stake in Blend Labs during the 4th quarter worth about $46,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Blend Labs during the 2nd quarter worth about $37,000. Finally, Truist Financial Corp acquired a new stake in Blend Labs during the 2nd quarter worth about $41,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

About Blend Labs

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.