Analysts Set Blend Labs, Inc. (NYSE:BLND) PT at $3.93

Shares of Blend Labs, Inc. (NYSE:BLND) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $3.93.

Several equities analysts recently commented on BLND shares. Canaccord Genuity Group raised Blend Labs from a “hold” rating to a “buy” rating and increased their target price for the company from $3.00 to $4.75 in a report on Monday, August 12th. Canaccord Genuity Group raised Blend Labs from a “hold” rating to a “buy” rating and increased their target price for the company from $3.00 to $4.75 in a report on Monday, August 12th. William Blair raised Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. The Goldman Sachs Group increased their target price on Blend Labs from $3.00 to $3.40 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Blend Labs from $3.00 to $3.25 and gave the company a “market perform” rating in a research note on Monday, August 12th.

Blend Labs Trading Up 2.4 %

Blend Labs stock opened at $3.36 on Friday. Blend Labs has a twelve month low of $1.08 and a twelve month high of $4.22. The stock’s fifty day simple moving average is $3.16 and its 200-day simple moving average is $2.86. The firm has a market capitalization of $847.99 million, a P/E ratio of -5.79 and a beta of 1.15.

Blend Labs (NYSE:BLND) last posted its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $40.48 million for the quarter, compared to analyst estimates of $39.50 million. Blend Labs had a negative return on equity of 595.99% and a negative net margin of 77.63%. Sell-side analysts predict that Blend Labs will post -0.27 earnings per share for the current year.

Institutional Investors Weigh In On Blend Labs

Several hedge funds have recently made changes to their positions in BLND. JPL Wealth Management LLC acquired a new stake in Blend Labs in the fourth quarter valued at about $26,000. Dark Forest Capital Management LP purchased a new stake in Blend Labs in the 2nd quarter worth approximately $31,000. Xponance Inc. purchased a new stake in Blend Labs in the 2nd quarter worth approximately $35,000. AMG National Trust Bank purchased a new stake in Blend Labs in the 4th quarter worth approximately $37,000. Finally, Berylson Capital Partners LLC acquired a new position in shares of Blend Labs in the 4th quarter valued at $52,000. Institutional investors and hedge funds 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.