Canaccord Genuity Group Cuts Blend Labs (NYSE:BLND) Price Target to $3.00

Blend Labs (NYSE:BLND) had its price objective trimmed by Canaccord Genuity Group from $4.50 to $3.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on the stock. Zacks Research cut shares of Blend Labs from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. The Goldman Sachs Group set a $3.00 price objective on shares of Blend Labs in a research note on Friday, August 7th. Citigroup reissued a “market outperform” rating on shares of Blend Labs in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods cut their target price 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. Finally, Weiss Ratings lowered Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.82.

Blend Labs Trading Down 3.5%

NYSE BLND opened at $1.50 on Thursday. The business has a fifty day simple moving average of $1.73 and a 200 day simple moving average of $1.71. Blend Labs has a 12 month low of $1.18 and a 12 month high of $4.49. The firm has a market capitalization of $353.58 million, a P/E ratio of -16.61 and a beta of 1.09.

Institutional Trading of Blend Labs

Several hedge funds have recently made changes to their positions in BLND. Caitong International Asset Management Co. Ltd purchased a new position in shares of Blend Labs during the 3rd quarter valued at $32,000. Captrust Financial Advisors purchased a new stake in Blend Labs in the 2nd quarter worth about $35,000. Jump Financial LLC bought a new stake in Blend Labs in the 2nd quarter valued at about $38,000. Wexford Capital LP bought a new stake in Blend Labs in the 3rd quarter valued at about $45,000. Finally, Cibc World Markets Corp purchased a new stake in Blend Labs during the fourth quarter valued at about $40,000. 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.