Blend Labs (NYSE:BLND) Earns Market Outperform Rating from Citizens Jmp

Blend Labs (NYSE:BLND)‘s stock had its “market outperform” rating restated by equities researchers at Citizens Jmp in a report issued on Tuesday,Benzinga reports. They currently have a $4.00 price objective on the stock. Citizens Jmp’s target price points to a potential upside of 122.84% from the stock’s previous close.

BLND has been the topic of several other reports. Citigroup restated a “market outperform” rating on shares of Blend Labs in a research report on Tuesday. Zacks Research lowered Blend Labs from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods reduced their price objective on Blend Labs from $2.25 to $1.90 and set a “market perform” rating on the stock in a research note on Friday, May 8th. The Goldman Sachs Group set a $3.50 price objective on Blend Labs in a research report on Friday, May 8th. Finally, Canaccord Genuity Group dropped their target price on Blend Labs from $5.25 to $4.50 and set a “buy” rating for the company in a report on Friday, May 15th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.32.

Blend Labs Stock Down 0.8%

BLND stock opened at $1.79 on Tuesday. Blend Labs has a 52 week low of $1.18 and a 52 week high of $4.49. The company has a fifty day simple moving average of $1.66 and a two-hundred day simple moving average of $1.88. The firm has a market capitalization of $434.61 million, a P/E ratio of -17.95 and a beta of 1.10.

Institutional Trading of Blend Labs

A number of institutional investors have recently bought and sold shares of BLND. Tudor Investment Corp ET AL boosted its holdings in Blend Labs by 81.0% in the third quarter. Tudor Investment Corp ET AL now owns 1,300,087 shares of the company’s stock valued at $4,745,000 after purchasing an additional 581,622 shares during the last quarter. Royce & Associates LP grew its stake in shares of Blend Labs by 18.4% during the 4th quarter. Royce & Associates LP now owns 1,978,135 shares of the company’s stock worth $6,014,000 after purchasing an additional 306,895 shares during the period. Irenic Capital Management LP acquired a new position in Blend Labs in the 4th quarter worth about $9,469,000. Whetstone Capital Advisors LLC purchased a new stake in Blend Labs in the 4th quarter worth $3,560,000. Finally, Kazazian Asset Management LLC acquired a new position in shares of Blend Labs during the fourth quarter valued at approximately $1,172,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

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.