Blend Labs (NYSE:BLND) Price Target Raised to $3.85

Blend Labs (NYSE:BLND) had its price target upped by Keefe, Bruyette & Woods from $3.25 to $3.85 in a research note released on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other research analysts have also commented on BLND. UBS Group increased their price objective on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group raised their target price on Blend Labs from $3.00 to $3.40 and gave the company a “buy” rating in a report on Friday, August 9th. Canaccord Genuity Group raised their target price on Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity Group raised Blend Labs from a “hold” rating to a “buy” rating and raised their target price for the company from $3.00 to $4.75 in a report on Monday, August 12th. Finally, William Blair raised Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.46.

Blend Labs Stock Performance

Shares of NYSE BLND opened at $4.75 on Thursday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -13.97 and a beta of 1.16. The business’s 50-day simple moving average is $3.67 and its 200-day simple moving average is $3.15. Blend Labs has a 52 week low of $1.16 and a 52 week high of $4.75.

Blend Labs (NYSE:BLND) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $40.48 million for the quarter, compared to analyst estimates of $39.50 million. As a group, equities research analysts forecast that Blend Labs will post -0.27 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Winnie Ling sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $4.06, for a total transaction of $40,600.00. Following the sale, the insider now owns 279,169 shares of the company’s stock, valued at approximately $1,133,426.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 54,303 shares of company stock valued at $192,926. 13.21% of the stock is owned by company insiders.

Institutional Trading of Blend Labs

Several hedge funds and other institutional investors have recently modified their holdings of BLND. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Blend Labs by 15.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,502 shares of the company’s stock valued at $947,000 after purchasing an additional 38,479 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Blend Labs in the 1st quarter valued at about $70,000. ClariVest Asset Management LLC raised its stake in shares of Blend Labs by 19.6% in the 1st quarter. ClariVest Asset Management LLC now owns 245,071 shares of the company’s stock valued at $796,000 after purchasing an additional 40,158 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Blend Labs in the 1st quarter valued at about $94,000. Finally, Vanguard Group Inc. raised its stake in shares of Blend Labs by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 9,249,111 shares of the company’s stock valued at $30,060,000 after purchasing an additional 46,526 shares during the period. Institutional investors and hedge funds 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.