Keefe, Bruyette & Woods Boosts Blend Labs (NYSE:BLND) Price Target to $3.00

Blend Labs (NYSE:BLND) had its price target boosted by research analysts at Keefe, Bruyette & Woods from $2.65 to $3.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 7.14% from the company’s current price.

Several other research analysts also recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of Blend Labs from $1.60 to $3.10 and gave the company a “buy” rating in a report on Friday, March 15th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $3.00 price objective on shares of Blend Labs in a report on Wednesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Blend Labs currently has a consensus rating of “Hold” and an average target price of $3.15.

Blend Labs Stock Up 0.7 %

BLND opened at $2.80 on Friday. The company has a debt-to-equity ratio of 34.81, a quick ratio of 5.38 and a current ratio of 5.38. The firm’s fifty day moving average is $2.75 and its 200 day moving average is $2.29. The stock has a market cap of $705.74 million, a price-to-earnings ratio of -3.64 and a beta of 1.10. Blend Labs has a fifty-two week low of $0.80 and a fifty-two week high of $3.40.

Blend Labs (NYSE:BLND) last released its earnings results on Friday, March 15th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). Blend Labs had a negative return on equity of 595.99% and a negative net margin of 118.15%. The firm had revenue of $36.10 million during the quarter, compared to analysts’ expectations of $37.52 million. On average, sell-side analysts forecast that Blend Labs will post -0.47 earnings per share for the current fiscal year.

Insider Activity at Blend Labs

In other Blend Labs news, insider Nima Ghamsari sold 100,807 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $2.45, for a total transaction of $246,977.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 11.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blend Labs

Hedge funds have recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC lifted its stake in Blend Labs by 36.1% in the third quarter. Kingsview Wealth Management LLC now owns 95,245 shares of the company’s stock worth $130,000 after purchasing an additional 25,245 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Blend Labs by 327,281.9% in the third quarter. Citigroup Inc. now owns 379,763 shares of the company’s stock worth $520,000 after purchasing an additional 379,647 shares during the last quarter. Moneta Group Investment Advisors LLC purchased a new position in Blend Labs in the 3rd quarter worth about $52,000. EP Wealth Advisors LLC bought a new stake in Blend Labs during the 3rd quarter valued at about $234,000. Finally, Caerus Investment Advisors LLC bought a new position in Blend Labs in the 4th quarter worth about $132,000. 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.