Keefe, Bruyette & Woods Issues Pessimistic Forecast for Blend Labs (NYSE:BLND) Stock Price

Key Points

• Keefe, Bruyette & Woods cut its price target on Blend Labs from $2.25 to $1.90 and maintained a "market perform" rating, implying roughly a 26.7% upside from the current share price.
• Other analysts have also trimmed targets (Wells Fargo, UBS, Citizens Jmp) though Citi reaffirmed an outperform; the stock's consensus is a Moderate Buy with a consensus price target of $3.83.
• Blend shares opened at about $1.50, trading near their 52-week low of $1.33, with a market cap of ~$385.7M and roughly 52.6% institutional ownership.

Blend Labs (NYSE:BLND - Get Free Report) had its price target reduced by analysts at Keefe, Bruyette & Woods from $2.25 to $1.90 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 26.67% from the company's current price.

A number of other research analysts have also recently issued reports on the company. Wells Fargo & Company cut their price objective on Blend Labs from $5.00 to $4.00 and set an "overweight" rating for the company in a report on Wednesday, March 11th. Citigroup reaffirmed an "outperform" rating on shares of Blend Labs in a report on Friday. Citizens Jmp dropped their target price on shares of Blend Labs from $7.00 to $5.00 and set a "market outperform" rating for the company in a research report on Wednesday, March 11th. 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. Finally, Weiss Ratings cut shares of Blend Labs from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $3.83.

Blend Labs Price Performance

Shares of Blend Labs stock opened at $1.50 on Friday. The stock has a 50-day simple moving average of $1.63 and a 200-day simple moving average of $2.43. The firm has a market cap of $385.67 million, a price-to-earnings ratio of -15.00 and a beta of 1.03. Blend Labs has a 52-week low of $1.33 and a 52-week high of $4.49.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its position in shares of Blend Labs by 25.0% during the first quarter. Chicago Partners Investment Group LLC now owns 67,224 shares of the company's stock worth $108,000 after acquiring an additional 13,428 shares during the last quarter. Abel Hall LLC bought a new position in Blend Labs in the first quarter valued at approximately $48,000. Capricorn Fund Managers Ltd bought a new position in Blend Labs in the first quarter valued at approximately $11,049,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Blend Labs by 52.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 68,950 shares of the company's stock valued at $117,000 after buying an additional 23,725 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Blend Labs by 248.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 30,645 shares of the company's stock worth $93,000 after acquiring an additional 21,859 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.

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.

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