Brokerages Set Blend Labs, Inc. (NYSE:BLND) Target Price at $4.90

Blend Labs, Inc. (NYSE:BLND) has earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $4.90.

A number of equities analysts have commented on the stock. Wells Fargo & Company reduced their target price on shares of Blend Labs from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. The Goldman Sachs Group dropped their target price on Blend Labs from $5.60 to $4.80 and set a “buy” rating on the stock in a research note on Monday, May 12th. Canaccord Genuity Group restated a “buy” rating and set a $5.25 target price on shares of Blend Labs in a research note on Monday, May 12th. Keefe, Bruyette & Woods increased their price objective on shares of Blend Labs from $3.50 to $4.00 and gave the company a “market perform” rating in a research report on Monday, May 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $7.00 price objective on shares of Blend Labs in a research report on Wednesday, May 28th.

Blend Labs Stock Performance

Shares of Blend Labs stock opened at $3.60 on Friday. The company has a market capitalization of $933.48 million, a PE ratio of -10.57 and a beta of 1.30. The company has a 50-day simple moving average of $3.39 and a two-hundred day simple moving average of $3.79. Blend Labs has a one year low of $2.08 and a one year high of $5.53.

Hedge Funds Weigh In On Blend Labs

Several institutional investors and hedge funds have recently modified their holdings of BLND. JPL Wealth Management LLC acquired a new stake in shares of Blend Labs during the 4th quarter worth approximately $42,000. Merit Financial Group LLC acquired a new stake in shares of Blend Labs during the 1st quarter worth approximately $36,000. Balyasny Asset Management L.P. acquired a new stake in shares of Blend Labs during the 4th quarter worth approximately $46,000. Olympiad Research LP acquired a new stake in shares of Blend Labs during the 4th quarter worth approximately $47,000. Finally, Crescent Park Management L.P. acquired a new stake in shares of Blend Labs during the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

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.