Blend Labs, Inc. (NYSE:BLND) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Blend Labs, Inc. (NYSE:BLND) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat reports. Two research 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 twelve-month price target among analysts that have issued a report on the stock in the last year is $4.83.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Blend Labs from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group dropped their price target on shares of Blend Labs from $5.60 to $4.80 and set a “buy” rating for the company in a research note on Monday, May 12th. Keefe, Bruyette & Woods dropped their price target on shares of Blend Labs from $3.85 to $3.50 and set a “market perform” rating for the company in a research note on Monday, March 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $5.25 price target on shares of Blend Labs in a research note on Monday, May 12th. Finally, UBS Group dropped their price target on shares of Blend Labs from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Friday, February 28th.

Blend Labs Price Performance

BLND opened at $3.67 on Wednesday. The company has a market cap of $951.66 million, a price-to-earnings ratio of -10.78 and a beta of 1.29. The firm has a 50 day simple moving average of $3.38 and a 200 day simple moving average of $3.88. Blend Labs has a fifty-two week low of $2.08 and a fifty-two week high of $5.53.

Institutional Investors Weigh In On Blend Labs

Large investors have recently bought and sold shares of the company. Merit Financial Group LLC bought a new stake in Blend Labs in the first quarter valued at approximately $36,000. JPL Wealth Management LLC acquired a new position in shares of Blend Labs in the fourth quarter valued at approximately $42,000. Crescent Park Management L.P. acquired a new position in shares of Blend Labs in the first quarter valued at approximately $43,000. Balyasny Asset Management L.P. acquired a new position in shares of Blend Labs in the fourth quarter valued at approximately $46,000. Finally, Olympiad Research LP acquired a new position in shares of Blend Labs in the fourth quarter valued at approximately $47,000. Institutional investors 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.