Blend Labs, Inc. (NYSE:BLND) Given Average Rating of “Moderate Buy” by Analysts

Shares of Blend Labs, Inc. (NYSE:BLND) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $4.83.

A number of analysts have recently commented on BLND shares. Keefe, Bruyette & Woods dropped their price objective on Blend Labs from $3.85 to $3.50 and set a “market perform” rating for the company in a report on Monday, March 3rd. Canaccord Genuity Group restated a “buy” rating and set a $5.25 price objective on shares of Blend Labs in a report on Monday. Wells Fargo & Company dropped their price objective on Blend Labs from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. UBS Group dropped their price objective on Blend Labs from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Friday, February 28th. Finally, The Goldman Sachs Group dropped their price objective on Blend Labs from $5.60 to $4.80 and set a “buy” rating for the company in a report on Monday.

Blend Labs Stock Up 2.0%

Shares of Blend Labs stock opened at $3.63 on Wednesday. Blend Labs has a fifty-two week low of $2.08 and a fifty-two week high of $5.53. The firm has a market cap of $942.57 million, a PE ratio of -10.68 and a beta of 1.29. The business’s fifty day moving average is $3.35 and its two-hundred day moving average is $3.88.

Institutional Trading of Blend Labs

Several large investors have recently added to or reduced their stakes in the stock. Lightspeed Management Company L.L.C. acquired a new stake in Blend Labs in the 4th quarter valued at $97,366,000. Vanguard Group Inc. grew its stake in shares of Blend Labs by 4.6% during the first quarter. Vanguard Group Inc. now owns 17,586,601 shares of the company’s stock valued at $58,915,000 after acquiring an additional 775,091 shares in the last quarter. ShawSpring Partners LLC grew its stake in shares of Blend Labs by 6.8% during the fourth quarter. ShawSpring Partners LLC now owns 7,079,165 shares of the company’s stock valued at $29,803,000 after acquiring an additional 449,175 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Blend Labs by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 4,842,483 shares of the company’s stock valued at $20,391,000 after acquiring an additional 75,379 shares in the last quarter. Finally, Metavasi Capital LP grew its stake in shares of Blend Labs by 6.4% during the fourth quarter. Metavasi Capital LP now owns 4,804,101 shares of the company’s stock valued at $20,225,000 after acquiring an additional 290,623 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Blend Labs Company Profile

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.