Blend Labs (NYSE:BLND) Upgraded at Wall Street Zen

Key Points

• Blend Labs (NYSE:BLND) was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a more optimistic outlook for the company's shares.
• Various analysts have lowered their price targets for Blend Labs stock, with an average price target now at $4.88, reflecting a range of ratings from "hold" to "strong buy."
• The latest earnings results showed a loss with an EPS of (0.03), missing estimates, and analysts expect a further loss of -0.19 EPS for the current fiscal year.

Blend Labs (NYSE:BLND - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Sunday.

A number of other equities analysts also recently weighed in on BLND. The Goldman Sachs Group reduced their price target on Blend Labs from $5.60 to $4.80 and set a "buy" rating for the company in a research report on Monday, May 12th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $5.25 price target on shares of Blend Labs in a research report on Monday, May 12th. Wells Fargo & Company reduced their price target on Blend Labs from $6.00 to $5.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. UBS Group cut their price objective on Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a report on Friday, August 8th. Finally, JMP Securities reissued a "market outperform" rating and issued a $7.00 price objective on shares of Blend Labs in a report on Wednesday, May 28th. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $4.88.

Blend Labs Stock Up 16.6%

Shares of BLND traded up $0.4950 on Friday, hitting $3.4750. The company's stock had a trading volume of 7,521,205 shares, compared to its average volume of 2,828,259. The firm's fifty day moving average price is $3.34 and its 200-day moving average price is $3.44. Blend Labs has a fifty-two week low of $2.63 and a fifty-two week high of $5.53. The firm has a market capitalization of $902.32 million, a price-to-earnings ratio of -23.17 and a beta of 1.24.

Blend Labs (NYSE:BLND - Get Free Report) last issued 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 company had revenue of $31.52 million during 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 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nima Ghamsari sold 311,886 shares of Blend Labs stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $2.90, for a total transaction 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 trade represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 sale, the insider directly owned 696,598 shares in the company, valued at $1,999,236.26. The trade was a 3.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 561,736 shares of company stock worth $1,739,383. 35.52% of the stock is owned by company insiders.

Institutional Trading of Blend Labs

A number of hedge funds have recently made changes to their positions in BLND. Captrust Financial Advisors acquired a new stake in shares of Blend Labs during the second quarter valued at about $35,000. Merit Financial Group LLC acquired a new position in shares of Blend Labs in the first quarter worth approximately $36,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Blend Labs in the second quarter worth approximately $37,000. Jump Financial LLC acquired a new position in shares of Blend Labs in the second quarter worth approximately $38,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Blend Labs in the second quarter worth approximately $40,000. 52.56% of the stock is 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.