Blend Labs, Inc. (NYSE:BLND) Receives $4.80 Average Price Target from Brokerages

Shares of Blend Labs, Inc. (NYSE:BLND) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $4.80.

A number of analysts recently commented on BLND shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Blend Labs in a research report on Wednesday, October 8th. Wall Street Zen raised Blend Labs from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. UBS Group decreased their price objective on Blend Labs from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.25 target price on shares of Blend Labs in a report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Blend Labs from $4.00 to $3.75 and set a “market perform” rating for the company in a research report on Friday, August 8th.

Blend Labs Stock Up 5.8%

Shares of NYSE BLND opened at $3.28 on Friday. The firm has a market cap of $851.72 million, a PE ratio of -32.79 and a beta of 1.23. The company’s fifty day simple moving average is $3.25 and its 200 day simple moving average is $3.44. Blend Labs has a 12-month low of $2.50 and a 12-month high of $5.53.

Insider Activity

In other news, insider Brian Kneafsey sold 25,000 shares of Blend Labs stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $3.34, for a total transaction of $83,500.00. Following the completion of the transaction, the insider directly owned 687,909 shares in the company, valued at $2,297,616.06. This trade represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 35.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blend Labs

Hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Blend Labs during the third quarter valued at approximately $32,000. Captrust Financial Advisors bought a new position in Blend Labs in the 2nd quarter valued at $35,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Blend Labs during the 2nd quarter valued at $37,000. Savvy Advisors Inc. purchased a new stake in shares of Blend Labs during the 3rd quarter valued at $37,000. Finally, Jump Financial LLC bought a new stake in shares of Blend Labs during the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

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.