Blend Labs, Inc. (NYSE:BLND) Given Consensus Rating of “Moderate Buy” by Analysts

Blend Labs, Inc. (NYSE:BLND) has earned a consensus rating of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $3.93.

A number of equities research analysts have recently issued reports on BLND shares. Keefe, Bruyette & Woods boosted their target price on shares of Blend Labs from $3.00 to $3.25 and gave the company a “market perform” rating in a research report on Monday, August 12th. Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and increased their target price for the stock from $3.00 to $4.75 in a research report on Monday, August 12th. William Blair upgraded shares of Blend Labs from a “market perform” rating to an “outperform” rating in a research report on Friday, August 9th. Canaccord Genuity Group raised Blend Labs from a “hold” rating to a “buy” rating and increased their price target for the stock from $3.00 to $4.75 in a research report on Monday, August 12th. Finally, The Goldman Sachs Group raised their price objective on Blend Labs from $3.00 to $3.40 and gave the stock a “buy” rating in a research note on Friday, August 9th.

Insider Buying and Selling

In other Blend Labs news, insider Winnie Ling sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $4.06, for a total transaction of $40,600.00. Following the completion of the transaction, the insider now directly owns 279,169 shares in the company, valued at $1,133,426.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 34,303 shares of company stock worth $124,326. Corporate insiders own 11.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BLND. Berylson Capital Partners LLC bought a new stake in shares of Blend Labs during the 4th quarter valued at approximately $52,000. G2 Investment Partners Management LLC bought a new stake in shares of Blend Labs during the fourth quarter worth $956,000. EP Wealth Advisors LLC increased its holdings in shares of Blend Labs by 6.7% during the fourth quarter. EP Wealth Advisors LLC now owns 182,003 shares of the company’s stock worth $464,000 after buying an additional 11,448 shares in the last quarter. Cannon Global Investment Management LLC bought a new position in shares of Blend Labs in the 1st quarter valued at $65,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted 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 acquiring an additional 38,479 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Blend Labs Price Performance

BLND stock opened at $3.52 on Tuesday. Blend Labs has a one year low of $1.15 and a one year high of $4.25. The stock has a market cap of $888.37 million, a price-to-earnings ratio of -6.24 and a beta of 1.15. The company has a fifty day moving average price of $3.54 and a two-hundred day moving average price of $3.01.

Blend Labs (NYSE:BLND) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $40.48 million for the quarter, compared to analysts’ expectations of $39.50 million. Blend Labs had a negative net margin of 77.63% and a negative return on equity of 595.99%. Research analysts anticipate that Blend Labs will post -0.27 EPS for the current fiscal year.

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.