Blend Labs (NYSE:BLND) Receives "Market Outperform" Rating from JMP Securities

Blend Labs (NYSE:BLND - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities researchers at JMP Securities in a report released on Wednesday,Benzinga reports. They currently have a $7.00 target price on the stock. JMP Securities' target price would suggest a potential upside of 89.70% from the company's previous close.

Several other research analysts have also commented on BLND. UBS Group dropped their price target on Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Friday, February 28th. Keefe, Bruyette & Woods boosted their target price 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. Wells Fargo & Company dropped their target price 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. The Goldman Sachs Group dropped their target price 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. Finally, Canaccord Genuity Group restated a "buy" rating and set a $5.25 target price on shares of Blend Labs in a research report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $4.90.

Blend Labs Price Performance

Shares of BLND stock traded up $0.09 during trading hours on Wednesday, hitting $3.69. The stock had a trading volume of 2,828,514 shares, compared to its average volume of 3,028,716. Blend Labs has a one year low of $2.08 and a one year high of $5.53. The stock's 50-day moving average price is $3.37 and its two-hundred day moving average price is $3.85. The stock has a market capitalization of $958.15 million, a price-to-earnings ratio of -10.85 and a beta of 1.29.

Institutional Trading of Blend Labs

Large investors have recently modified their holdings of the company. JPL Wealth Management LLC purchased a new stake in shares of Blend Labs in the fourth quarter valued at approximately $42,000. Merit Financial Group LLC bought a new position in Blend Labs in the first quarter worth approximately $36,000. Balyasny Asset Management L.P. bought a new position in Blend Labs in the fourth quarter worth approximately $46,000. Olympiad Research LP bought a new position in Blend Labs in the fourth quarter worth approximately $47,000. Finally, Crescent Park Management L.P. bought a new position in Blend Labs in the first quarter worth approximately $43,000. Hedge funds and other 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.