Analysts Set Blend Labs, Inc. (NYSE:BLND) Price Target at $4.91

Blend Labs, Inc. (NYSE:BLND) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.91.

A number of equities analysts have commented on BLND shares. Wells Fargo & Company lifted their price objective 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. Keefe, Bruyette & Woods reduced their price objective on Blend Labs from $3.85 to $3.50 and set a “market perform” rating on the stock in a research note on Monday, March 3rd. JMP Securities began coverage on Blend Labs in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price objective for the company. UBS Group dropped their price objective 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. Finally, Canaccord Genuity Group dropped their target price on Blend Labs from $5.75 to $5.25 and set a “buy” rating for the company in a research report on Friday, February 28th.

Blend Labs Price Performance

Shares of BLND opened at $3.35 on Tuesday. The stock has a market capitalization of $868.57 million, a price-to-earnings ratio of -9.84 and a beta of 1.40. Blend Labs has a 1 year low of $2.08 and a 1 year high of $5.53. The business’s 50 day simple moving average is $3.64 and its 200-day simple moving average is $3.98.

Insiders Place Their Bets

In related 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 value of $102,300.00. Following the completion of the sale, the insider now owns 836,759 shares in the company, valued at approximately $2,853,348.19. The trade was a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 120,000 shares of company stock worth $433,800 in the last three months. Corporate insiders own 13.21% of the company’s stock.

Institutional Investors Weigh In On Blend Labs

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Blend Labs by 6.3% during the third quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock valued at $17,880,000 after buying an additional 283,207 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Blend Labs during the 3rd quarter valued at about $676,000. Advantage Alpha Capital Partners LP bought a new stake in shares of Blend Labs in the 3rd quarter valued at about $3,253,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Blend Labs by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,643,051 shares of the company’s stock valued at $6,161,000 after purchasing an additional 120,152 shares in the last quarter. Finally, Barclays PLC increased its holdings in Blend Labs by 263.1% during the third quarter. Barclays PLC now owns 407,774 shares of the company’s stock valued at $1,530,000 after buying an additional 295,460 shares during the period. 52.56% of the stock is owned by institutional investors.

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.