Keefe, Bruyette & Woods Increases Blend Labs (NYSE:BLND) Price Target to $3.00

Blend Labs (NYSE:BLND - Free Report) had its target price boosted by Keefe, Bruyette & Woods from $2.65 to $3.00 in a report issued on Friday, Benzinga reports. They currently have a market perform rating on the stock.

A number of other equities research analysts have also recently commented on the company. Canaccord Genuity Group reissued a hold rating and set a $3.00 price target on shares of Blend Labs in a report on Wednesday. The Goldman Sachs Group boosted their price target on shares of Blend Labs from $1.60 to $3.10 and gave the stock a buy rating in a research note on Friday, March 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $3.15.

Blend Labs Stock Up 3.6 %

Shares of NYSE:BLND traded up $0.10 during trading on Friday, reaching $2.88. 1,858,313 shares of the stock traded hands, compared to its average volume of 1,747,266. The stock has a market cap of $725.90 million, a P/E ratio of -3.74 and a beta of 1.10. The company has a debt-to-equity ratio of 34.81, a quick ratio of 5.38 and a current ratio of 5.38. The stock has a 50-day moving average of $2.75 and a two-hundred day moving average of $2.29. Blend Labs has a 52-week low of $0.80 and a 52-week high of $3.40.

Blend Labs (NYSE:BLND - Get Free Report) last released its quarterly earnings results on Friday, March 15th. The company reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). The firm had revenue of $36.10 million during the quarter, compared to analyst estimates of $37.52 million. Blend Labs had a negative net margin of 118.15% and a negative return on equity of 595.99%. As a group, sell-side analysts expect that Blend Labs will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Blend Labs news, insider Nima Ghamsari sold 100,807 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $2.45, for a total value of $246,977.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.83% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Formation8 GP LLC purchased a new stake in shares of Blend Labs in the 4th quarter valued at $41,362,000. Citigroup Inc. grew its position in Blend Labs by 327,281.9% during the 3rd quarter. Citigroup Inc. now owns 379,763 shares of the company's stock worth $520,000 after purchasing an additional 379,647 shares during the period. G2 Investment Partners Management LLC acquired a new position in shares of Blend Labs in the 4th quarter valued at about $956,000. EP Wealth Advisors LLC purchased a new stake in shares of Blend Labs in the third quarter worth about $234,000. Finally, Truist Financial Corp acquired a new stake in Blend Labs during the fourth quarter worth about $255,000. Institutional investors and hedge funds 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.