Blend Labs (NYSE:BLND) Shares Up 6.5% - Here's What Happened

Key Points

• Blend Labs' stock rose 6.5% to $3.03 on Monday, despite a significant decline in trading volume of 77% compared to its average.
• Analysts have mixed opinions, with a recent downgrade from Keefe, Bruyette & Woods setting a price target of $3.75, while others like Canaccord Genuity maintain a "buy" rating with a target of $5.25.
• The company reported a loss of ($0.03) earnings per share for the last quarter, missing expectations and indicating projected further losses for the current year.

Blend Labs, Inc. (NYSE:BLND - Get Free Report) shares traded up 6.5% during mid-day trading on Monday . The stock traded as high as $3.06 and last traded at $3.03. 655,643 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 2,832,634 shares. The stock had previously closed at $2.84.

Wall Street Analysts Forecast Growth

BLND has been the subject of a number of recent research reports. UBS Group reduced their target price 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. The Goldman Sachs Group cut their price objective on shares of Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a research report on Monday, May 12th. Wall Street Zen raised shares of Blend Labs from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Keefe, Bruyette & Woods lowered their target price on shares of Blend Labs from $4.00 to $3.75 and set a "market perform" rating for the company in a research note on Friday, August 8th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $5.25 price target on shares of Blend Labs in a research report on Friday. One research 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's stock. According to MarketBeat, Blend Labs currently has an average rating of "Moderate Buy" and an average price target of $4.88.

Blend Labs Stock Performance

The stock has a 50 day moving average of $3.35 and a 200-day moving average of $3.43. The company has a market cap of $954.26 million, a PE ratio of -24.50 and a beta of 1.24.

Blend Labs (NYSE:BLND - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.05). The firm 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. Equities research analysts forecast that Blend Labs, Inc. will post -0.19 EPS for the current year.

Insiders Place Their Bets

In other Blend Labs news, insider Nima Ghamsari sold 311,886 shares of the company's 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 sale, the insider directly owned 5,754,051 shares of the company's stock, valued at approximately $16,686,747.90. This represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Kneafsey sold 25,000 shares of Blend Labs stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $2.87, for a total value of $71,750.00. Following the transaction, the insider owned 696,598 shares of the company's stock, valued at $1,999,236.26. The trade was a 3.46% decrease in their position. The disclosure for this sale can be found here. Insiders have 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 insiders.

Hedge Funds Weigh In On Blend Labs

Several institutional investors have recently made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new position in shares of Blend Labs in the 4th quarter valued at $132,000. Wells Fargo & Company MN increased its holdings in Blend Labs by 49.7% in the fourth quarter. Wells Fargo & Company MN now owns 121,206 shares of the company's stock valued at $510,000 after buying an additional 40,266 shares in the last quarter. Invesco Ltd. raised its position in shares of Blend Labs by 1,230.9% in the fourth quarter. Invesco Ltd. now owns 1,576,347 shares of the company's stock worth $6,636,000 after acquiring an additional 1,457,901 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Blend Labs in the fourth quarter worth about $2,864,000. Finally, Barclays PLC boosted its stake in shares of Blend Labs by 12.3% during the 4th quarter. Barclays PLC now owns 458,014 shares of the company's stock worth $1,927,000 after acquiring an additional 50,240 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

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.