Blend Labs (NYSE:BLND) PT Raised to $4.00

Blend Labs (NYSE:BLND) had its price target boosted by UBS Group from $3.00 to $4.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target points to a potential upside of 15.94% from the company’s previous close.

Several other research firms have also recently weighed in on BLND. Keefe, Bruyette & Woods upped their price target on shares of Blend Labs from $3.00 to $3.25 and gave the company a “market perform” rating in a report on Monday, August 12th. William Blair raised shares of Blend Labs from a “market perform” rating to an “outperform” rating in a research note on Friday, August 9th. Canaccord Genuity Group upgraded Blend Labs from a “hold” rating to a “buy” rating and increased their target price for the stock from $3.00 to $4.75 in a report on Monday, August 12th. The Goldman Sachs Group boosted their price target on Blend Labs from $3.00 to $3.40 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group raised Blend Labs from a “hold” rating to a “buy” rating and upped their price objective for the stock from $3.00 to $4.75 in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Blend Labs currently has a consensus rating of “Moderate Buy” and an average target price of $3.94.

Blend Labs Stock Up 3.9 %

BLND opened at $3.45 on Wednesday. The company has a fifty day simple moving average of $3.69 and a 200 day simple moving average of $3.05. The stock has a market cap of $870.70 million, a P/E ratio of -5.95 and a beta of 1.15. Blend Labs has a 12 month low of $1.15 and a 12 month high of $4.25.

Blend Labs (NYSE:BLND) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The business had revenue of $40.48 million for the quarter, compared to analyst estimates of $39.50 million. On average, equities research analysts expect that Blend Labs will post -0.27 earnings per share for the current fiscal year.

Insider Transactions at Blend Labs

In related news, insider Winnie Ling sold 10,000 shares of Blend Labs stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $4.06, for a total value of $40,600.00. Following the sale, the insider now owns 279,169 shares of the company’s stock, valued at approximately $1,133,426.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 54,303 shares of company stock worth $192,926 in the last three months. Insiders own 11.83% of the company’s stock.

Hedge Funds Weigh In On Blend Labs

A number of institutional investors have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP bought a new position in shares of Blend Labs in the 2nd quarter valued at about $31,000. Xponance Inc. bought a new position in Blend Labs during the second quarter worth about $35,000. Caxton Associates LP acquired a new position in Blend Labs during the first quarter worth approximately $60,000. Cannon Global Investment Management LLC bought a new stake in Blend Labs in the first quarter valued at approximately $65,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Blend Labs in the first quarter valued at approximately $70,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

About Blend Labs

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.