Citizens Jmp Issues Pessimistic Forecast for Blend Labs (NYSE:BLND) Stock Price

Key Points

• Citizens Jmp cut its price target on Blend Labs from $5.00 to $4.00 but maintained a "market outperform" rating, with that $4.00 target implying about a 173% upside from the prior close.
• Shares traded down about 9.6% to $1.47 on the report; analysts remain mixed (consensus "Moderate Buy" with a $3.44 target) after several firms lowered their price forecasts.
• Institutional investors own roughly 52.6% of the stock, and several funds recently increased their stakes significantly.

Blend Labs (NYSE:BLND - Get Free Report) had its price objective dropped by investment analysts at Citizens Jmp from $5.00 to $4.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's price objective suggests a potential upside of 173.04% from the company's previous close.

BLND has been the topic of a number of other reports. The Goldman Sachs Group set a $3.50 price objective on shares of Blend Labs in a research note on Friday. UBS Group reduced their price target on shares of Blend Labs from $3.00 to $2.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 11th. Citigroup reissued an "outperform" rating on shares of Blend Labs in a research report on Friday. Weiss Ratings cut shares of Blend Labs from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Blend Labs from $2.25 to $1.90 and set a "market perform" rating on the stock in a research report on Friday. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Blend Labs currently has a consensus rating of "Moderate Buy" and a consensus target price of $3.44.

Blend Labs Trading Down 9.6%

Shares of Blend Labs stock traded down $0.16 during midday trading on Friday, reaching $1.47. The company had a trading volume of 1,258,570 shares, compared to its average volume of 3,636,929. Blend Labs has a 1-year low of $1.33 and a 1-year high of $4.49. The company has a market capitalization of $376.67 million, a price-to-earnings ratio of -14.65 and a beta of 1.03. The stock has a fifty day simple moving average of $1.63 and a 200 day simple moving average of $2.43.

Institutional Investors Weigh In On Blend Labs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLND. Royce & Associates LP increased its stake in shares of Blend Labs by 73.9% during the 3rd quarter. Royce & Associates LP now owns 1,671,240 shares of the company's stock worth $6,100,000 after purchasing an additional 709,989 shares during the last quarter. Tudor Investment Corp ET AL grew its stake in Blend Labs by 81.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,300,087 shares of the company's stock valued at $4,745,000 after buying an additional 581,622 shares during the last quarter. Mirabella Financial Services LLP grew its stake in Blend Labs by 64.5% in the 3rd quarter. Mirabella Financial Services LLP now owns 2,643,777 shares of the company's stock valued at $9,650,000 after buying an additional 1,036,777 shares during the last quarter. ShawSpring Partners LLC grew its stake in Blend Labs by 10.4% in the 3rd quarter. ShawSpring Partners LLC now owns 9,840,605 shares of the company's stock valued at $35,918,000 after buying an additional 929,566 shares during the last quarter. Finally, Proem Advisors LLC acquired a new position in Blend Labs in the 3rd quarter valued at about $1,149,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

About Blend Labs

Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend's platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.

The company's product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.