Blend Labs, Inc. (NYSE:BLND) Receives $2.82 Average Target Price from Brokerages

Shares of Blend Labs, Inc. (NYSE:BLND) have been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $2.8167.

A number of equities research analysts recently weighed in on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Blend Labs in a report on Tuesday, July 21st. Canaccord Genuity Group decreased their price objective on shares of Blend Labs from $4.50 to $3.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Wells Fargo & Company lowered their target price on Blend Labs from $4.00 to $3.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. The Goldman Sachs Group set a $3.00 target price on Blend Labs in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Blend Labs in a research note on Friday, August 28th.

Blend Labs Trading Down 0.3%

NYSE BLND opened at $1.53 on Tuesday. The company’s fifty day simple moving average is $1.67 and its 200-day simple moving average is $1.64. Blend Labs has a 52 week low of $1.18 and a 52 week high of $4.49. The stock has a market cap of $363.04 million, a P/E ratio of -17.05 and a beta of 1.09.

Hedge Funds Weigh In On Blend Labs

A number of institutional investors have recently made changes to their positions in the business. Essential Partners LLC increased its stake in shares of Blend Labs by 21,768.1% in the first quarter. Essential Partners LLC now owns 15,745 shares of the company’s stock worth $27,000 after buying an additional 15,673 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Blend Labs in the third quarter valued at $32,000. Captrust Financial Advisors bought a new position in Blend Labs during the 2nd quarter valued at $35,000. Jump Financial LLC bought a new position in Blend Labs during the 2nd quarter valued at $38,000. Finally, Cibc World Markets Corp acquired a new position in Blend Labs during the 4th quarter worth $40,000. 52.56% of the stock is owned by institutional investors and hedge funds.

About Blend Labs

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.