Blend Labs (NYSE:BLND) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Blend Labs (NYSE:BLND) from a strong sell rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other research firms also recently commented on BLND. Wells Fargo & Company reduced their price objective on Blend Labs from $4.00 to $3.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Weiss Ratings lowered Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Keefe, Bruyette & Woods lowered their price objective on shares of Blend Labs from $2.25 to $1.90 and set a “market perform” rating on the stock in a research report on Friday, May 8th. Citigroup reissued a “market outperform” rating on shares of Blend Labs in a research note on Tuesday, July 21st. Finally, Canaccord Genuity Group reduced their target price on shares of Blend Labs from $4.50 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.82.

Blend Labs Price Performance

Shares of NYSE:BLND opened at $1.50 on Tuesday. The stock has a market cap of $353.58 million, a P/E ratio of -16.61 and a beta of 1.09. The firm has a fifty day moving average price of $1.71 and a 200 day moving average price of $1.68. Blend Labs has a 1-year low of $1.18 and a 1-year high of $4.49.

Institutional Trading of Blend Labs

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

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.