Blend Labs (NYSE:BLND) PT Lowered to $10.00

Blend Labs (NYSE:BLND) had its target price decreased by research analysts at Piper Sandler from $13.00 to $10.00 in a research report issued on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 41.44% from the stock’s current price.

Several other research firms have also weighed in on BLND. Zacks Investment Research upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Tuesday. KeyCorp dropped their price objective on shares of Blend Labs from $22.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, November 12th. Finally, Wells Fargo & Company dropped their price objective on shares of Blend Labs from $20.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, December 13th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Blend Labs currently has an average rating of “Buy” and a consensus target price of $19.90.

NYSE:BLND opened at $7.07 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 10.40 and a quick ratio of 10.40. The firm has a 50-day moving average price of $9.40. Blend Labs has a 1-year low of $6.45 and a 1-year high of $21.04.

Blend Labs (NYSE:BLND) last posted its quarterly earnings data on Wednesday, November 10th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The business had revenue of $89.57 million for the quarter, compared to the consensus estimate of $85.43 million. As a group, sell-side analysts expect that Blend Labs will post -0.97 earnings per share for the current fiscal year.

In related news, insider Crystal Sumner sold 3,557 shares of the firm’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $10.50, for a total transaction of $37,348.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 6,099 shares of company stock valued at $55,427 over the last 90 days.

Large investors have recently modified their holdings of the stock. Royal Bank of Canada purchased a new stake in shares of Blend Labs in the 3rd quarter valued at approximately $32,000. Morgan Stanley purchased a new stake in shares of Blend Labs in the 3rd quarter valued at approximately $80,000. Marshall Wace LLP purchased a new stake in Blend Labs in the 3rd quarter worth approximately $233,000. Cubist Systematic Strategies LLC purchased a new stake in Blend Labs in the 3rd quarter worth approximately $261,000. Finally, Balyasny Asset Management LLC bought a new position in shares of Blend Labs during the 3rd quarter valued at $285,000. Institutional investors and hedge funds own 51.99% of the company’s stock.

About Blend Labs

Blend Labs Inc designs and develops software. The Company offers a platform which focuses on mortgage lending, as well as provides an application experience for home buying process for both buyers and lenders. Blend Labs Inc is based in San Francisco, United States.

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