Blend Labs (NYSE:BLND) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Blend Labs (NYSE:BLND) from a hold rating to a strong sell rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other research firms have also recently weighed in on BLND. Canaccord Genuity Group cut their price objective on Blend Labs from $5.25 to $4.50 and set a “buy” rating for the company in a research report on Friday, May 15th. Weiss Ratings lowered Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Citigroup reaffirmed an “outperform” rating on shares of Blend Labs in a research report on Friday, May 8th. Keefe, Bruyette & Woods reduced their price objective on Blend Labs from $2.25 to $1.90 and set a “market perform” rating for the company in a research report on Friday, May 8th. Finally, Citizens Jmp reduced their price objective on Blend Labs from $5.00 to $4.00 and set a “market outperform” rating for the company in a research report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $3.32.

Blend Labs Price Performance

NYSE BLND opened at $1.78 on Monday. Blend Labs has a fifty-two week low of $1.18 and a fifty-two week high of $4.49. The stock’s 50-day moving average is $1.64 and its two-hundred day moving average is $1.92. The firm has a market cap of $432.18 million, a P/E ratio of -17.85 and a beta of 1.10.

Hedge Funds Weigh In On Blend Labs

Hedge funds and other institutional investors have recently made changes to their positions in the business. PFG Advisors boosted its stake in Blend Labs by 4.9% in the 4th quarter. PFG Advisors now owns 78,956 shares of the company’s stock valued at $240,000 after buying an additional 3,684 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in Blend Labs by 18.4% in the third quarter. Moneta Group Investment Advisors LLC now owns 33,922 shares of the company’s stock valued at $124,000 after acquiring an additional 5,265 shares during the period. Covestor Ltd raised its stake in Blend Labs by 40.1% during the fourth quarter. Covestor Ltd now owns 18,909 shares of the company’s stock worth $57,000 after acquiring an additional 5,409 shares in the last quarter. Barclays PLC raised its stake in Blend Labs by 1.5% during the fourth quarter. Barclays PLC now owns 397,203 shares of the company’s stock worth $1,207,000 after acquiring an additional 6,001 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Blend Labs by 6.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,961 shares of the company’s stock valued at $371,000 after acquiring an additional 7,368 shares during the period. 52.56% of the stock is owned by institutional investors.

Blend Labs Company Profile

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.