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

Shares of Blend Labs, Inc. (NYSE:BLND) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $4.91.

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group cut their price objective on shares of Blend Labs from $5.75 to $5.25 and set a “buy” rating for the company in a research report on Friday, February 28th. Citizens Jmp upgraded shares of Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. JMP Securities began coverage on shares of Blend Labs in a research note on Wednesday, December 18th. They set an “outperform” rating and a $7.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lifted their target price on shares of Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, December 5th.

Blend Labs Price Performance

Shares of BLND stock opened at $3.08 on Friday. Blend Labs has a 1 year low of $2.08 and a 1 year high of $5.53. The firm has a fifty day moving average price of $3.74 and a 200-day moving average price of $3.99. The company has a market cap of $786.98 million, a price-to-earnings ratio of -9.04 and a beta of 1.40.

Insiders Place Their Bets

In other news, insider Brian Kneafsey sold 30,000 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $5.05, for a total transaction of $151,500.00. Following the sale, the insider now directly owns 907,439 shares in the company, valued at approximately $4,582,566.95. This represents a 3.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 214,247 shares of company stock worth $885,559 in the last 90 days. 13.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blend Labs

A number of hedge funds have recently added to or reduced their stakes in the stock. JPL Wealth Management LLC purchased a new stake in Blend Labs during the fourth quarter valued at approximately $42,000. Balyasny Asset Management L.P. purchased a new position in shares of Blend Labs in the fourth quarter worth $46,000. Olympiad Research LP acquired a new stake in shares of Blend Labs in the fourth quarter worth $47,000. Trellis Wealth Advisors LLC acquired a new stake in shares of Blend Labs in the fourth quarter worth $57,000. Finally, BBR Partners LLC acquired a new stake in shares of Blend Labs in the fourth quarter worth $60,000. 52.56% of the stock is currently owned by institutional investors.

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.