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

Blend Labs, Inc. (NYSE:BLND) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $5.11.

BLND has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Citizens Jmp raised Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $5.75 price objective on shares of Blend Labs in a report on Friday, December 20th.

Insider Activity at Blend Labs

In other Blend Labs news, insider Brian Kneafsey sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $3.41, for a total transaction of $102,300.00. Following the transaction, the insider now owns 836,759 shares of the company’s stock, valued at $2,853,348.19. The trade was a 3.46 % 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. Also, Director Timothy J. Mayopoulos sold 42,721 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $5.00, for a total value of $213,605.00. Following the completion of the sale, the director now directly owns 387,620 shares of the company’s stock, valued at approximately $1,938,100. The trade was a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 331,782 shares of company stock valued at $1,504,778. Insiders own 13.21% of the company’s stock.

Institutional Investors Weigh In On Blend Labs

A number of large investors have recently added to or reduced their stakes in the business. Olympiad Research LP bought a new position in shares of Blend Labs during the fourth quarter worth approximately $47,000. Trellis Wealth Advisors LLC bought a new position in Blend Labs during the 4th quarter worth $57,000. Virtu Financial LLC acquired a new stake in shares of Blend Labs during the third quarter worth $63,000. Los Angeles Capital Management LLC bought a new stake in shares of Blend Labs in the fourth quarter valued at about $74,000. Finally, Summit Trail Advisors LLC grew its stake in shares of Blend Labs by 38.1% in the fourth quarter. Summit Trail Advisors LLC now owns 17,947 shares of the company’s stock valued at $76,000 after acquiring an additional 4,953 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Blend Labs Price Performance

Shares of BLND stock opened at $4.05 on Monday. The stock has a market cap of $1.04 billion, a PE ratio of -11.90 and a beta of 1.36. The stock has a 50-day moving average of $4.27 and a 200-day moving average of $3.92. Blend Labs has a one year low of $2.08 and a one year high of $5.53.

Blend Labs (NYSE:BLND) last issued its earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $45.18 million for the quarter, compared to analysts’ expectations of $41.30 million. During the same period in the previous year, the firm earned ($0.13) earnings per share. As a group, research analysts anticipate that Blend Labs will post -0.19 earnings per share for the current year.

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.