UBS Group Cuts Blend Labs (NYSE:BLND) Price Target to $2.00

Blend Labs (NYSE:BLND) had its price target reduced by UBS Group from $3.00 to $2.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also recently weighed in on BLND. Wall Street Zen upgraded shares of Blend Labs from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Blend Labs in a report on Wednesday, January 21st. Citizens Jmp lowered their price objective on shares of Blend Labs from $7.00 to $5.00 and set a “market outperform” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company cut their target price on Blend Labs from $5.00 to $4.00 and set an “overweight” rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.13.

Blend Labs Trading Down 4.0%

NYSE BLND opened at $1.55 on Wednesday. The stock has a fifty day simple moving average of $2.25 and a 200-day simple moving average of $2.99. The stock has a market cap of $401.31 million, a PE ratio of -15.45 and a beta of 1.27. Blend Labs has a twelve month low of $1.54 and a twelve month high of $4.49.

Blend Labs (NYSE:BLND) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.04). The company had revenue of $32.37 million for the quarter, compared to analysts’ expectations of $31.78 million. Research analysts predict that Blend Labs will post -0.19 EPS for the current year.

Insider Transactions at Blend Labs

In other news, insider Brian Kneafsey sold 25,000 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $3.06, for a total transaction of $76,500.00. Following the sale, the insider owned 649,824 shares of the company’s stock, valued at approximately $1,988,461.44. This represents a 3.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 33,125 shares of company stock worth $93,169 in the last 90 days. 35.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blend Labs

Several large investors have recently added to or reduced their stakes in BLND. Caitong International Asset Management Co. Ltd lifted its holdings in Blend Labs by 248.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 30,645 shares of the company’s stock worth $93,000 after buying an additional 21,859 shares in the last quarter. Virtu Financial LLC grew its stake in shares of Blend Labs by 356.6% in the fourth quarter. Virtu Financial LLC now owns 63,823 shares of the company’s stock worth $194,000 after acquiring an additional 49,845 shares in the last quarter. Invesco Ltd. grew its stake in shares of Blend Labs by 16.5% in the fourth quarter. Invesco Ltd. now owns 342,236 shares of the company’s stock worth $1,040,000 after acquiring an additional 48,530 shares in the last quarter. Lexington Hill Partners LLC purchased a new stake in shares of Blend Labs during the fourth quarter worth $42,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Blend Labs during the fourth quarter worth $695,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Blend Labs Company Profile

Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend’s platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.

The company’s product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.