JMP Securities Reiterates "Market Outperform" Rating for Blend Labs (NYSE:BLND)

Blend Labs (NYSE:BLND - Get Free Report)'s stock had its "market outperform" rating reissued by equities researchers at JMP Securities in a research report issued on Wednesday,Benzinga reports. They currently have a $7.00 price objective on the stock. JMP Securities' price objective points to a potential upside of 89.70% from the stock's current price.

A number of other research firms have also recently commented on BLND. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $5.25 price target on shares of Blend Labs in a report on Monday, May 12th. Keefe, Bruyette & Woods upped their price target on Blend Labs from $3.50 to $4.00 and gave the company a "market perform" rating in a research report on Monday, May 19th. The Goldman Sachs Group cut their price target 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. UBS Group lowered their price objective on Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Friday, February 28th. Finally, Wells Fargo & Company dropped their price objective on shares of Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.90.

Blend Labs Stock Performance

BLND traded up $0.09 during midday trading on Wednesday, reaching $3.69. 2,828,514 shares of the company were exchanged, compared to its average volume of 3,013,484. The company's fifty day moving average price is $3.37 and its 200 day moving average price is $3.84. Blend Labs has a one year low of $2.08 and a one year high of $5.53. The company has a market cap of $958.15 million, a price-to-earnings ratio of -10.85 and a beta of 1.29.

Institutional Investors Weigh In On Blend Labs

Institutional investors and hedge funds have recently made changes to their positions in the company. Swiss National Bank raised its position in Blend Labs by 3.5% in the 4th quarter. Swiss National Bank now owns 392,500 shares of the company's stock worth $1,652,000 after buying an additional 13,300 shares during the last quarter. Caprock Group LLC raised its holdings in shares of Blend Labs by 142.5% during the fourth quarter. Caprock Group LLC now owns 75,032 shares of the company's stock valued at $316,000 after purchasing an additional 44,096 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Blend Labs by 23.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 94,242 shares of the company's stock valued at $397,000 after purchasing an additional 17,914 shares during the period. Vanguard Group Inc. boosted its holdings in Blend Labs by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 16,811,510 shares of the company's stock worth $70,776,000 after purchasing an additional 388,583 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Blend Labs by 96.4% in the 4th quarter. Stifel Financial Corp now owns 20,375 shares of the company's stock worth $86,000 after purchasing an additional 10,000 shares during the period. Institutional investors own 52.56% of the company's stock.

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.