Blend Labs, Inc. (NYSE:BLND) Receives $5.11 Average Target Price from Analysts

Shares of Blend Labs, Inc. (NYSE:BLND) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $5.11.

Several equities analysts have recently commented on BLND shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.75 price target on shares of Blend Labs in a research report on Friday, December 20th. Keefe, Bruyette & Woods increased their target price on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their price target on Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, December 5th. Citizens Jmp raised Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, JMP Securities started coverage on shares of Blend Labs in a report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price objective for the company.

Insider Buying and Selling at Blend Labs

In other news, insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $3.73, for a total transaction of $111,900.00. Following the sale, the insider now owns 866,759 shares of the company’s stock, valued at approximately $3,233,011.07. The trade was a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy J. Mayopoulos sold 56,490 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $5.50, for a total value of $310,695.00. Following the transaction, the director now owns 331,130 shares of the company’s stock, valued at approximately $1,821,215. This represents a 14.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 241,782 shares of company stock worth $1,182,878. 13.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Dark Forest Capital Management LP acquired a new stake in Blend Labs in the second quarter worth about $31,000. Xponance Inc. bought a new stake in shares of Blend Labs during the 2nd quarter worth about $35,000. Virtu Financial LLC acquired a new stake in shares of Blend Labs in the 3rd quarter worth approximately $63,000. RiverPark Advisors LLC bought a new position in shares of Blend Labs in the third quarter valued at approximately $77,000. Finally, FMR LLC increased its stake in shares of Blend Labs by 15.8% during the third quarter. FMR LLC now owns 26,148 shares of the company’s stock valued at $98,000 after acquiring an additional 3,576 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Blend Labs Price Performance

NYSE BLND opened at $3.36 on Thursday. The company has a market capitalization of $859.92 million, a price-to-earnings ratio of -9.88 and a beta of 1.38. Blend Labs has a 12 month low of $2.08 and a 12 month high of $5.53. The company’s fifty day moving average price is $4.59 and its two-hundred day moving average price is $3.78.

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.