Blend Labs (NYSE:BLND) Price Target Cut to $1.90 by Analysts at Keefe, Bruyette & Woods

Blend Labs (NYSE:BLND) had its target price reduced by stock analysts at Keefe, Bruyette & Woods from $2.25 to $1.90 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 26.67% from the company’s current price.

A number of other research analysts also recently issued reports on the company. UBS Group decreased their price objective on Blend Labs from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Wednesday, March 11th. Wells Fargo & Company reduced their price target on Blend Labs from $5.00 to $4.00 and set an “overweight” rating for the company in a research report on Wednesday, March 11th. Citigroup reaffirmed an “outperform” rating on shares of Blend Labs in a research note on Friday. Weiss Ratings downgraded shares of Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Finally, Citizens Jmp cut their price objective on shares of Blend Labs from $7.00 to $5.00 and set a “market outperform” rating on the stock in a research report on Wednesday, March 11th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $3.83.

Blend Labs Price Performance

BLND opened at $1.50 on Friday. The company has a market capitalization of $385.67 million, a price-to-earnings ratio of -15.00 and a beta of 1.03. The business’s 50-day moving average price is $1.63 and its two-hundred day moving average price is $2.43. Blend Labs has a 1 year low of $1.33 and a 1 year high of $4.49.

Institutional Trading of Blend Labs

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capricorn Fund Managers Ltd bought a new position in shares of Blend Labs in the 1st quarter valued at about $11,049,000. Irenic Capital Management LP bought a new stake in shares of Blend Labs in the 4th quarter valued at about $9,469,000. Park West Asset Management LLC acquired a new stake in Blend Labs in the 3rd quarter valued at about $6,205,000. Potrero Capital Research LLC acquired a new stake in Blend Labs in the 4th quarter valued at about $5,050,000. Finally, Marshall Wace LLP grew its holdings in Blend Labs by 157.6% during the second quarter. Marshall Wace LLP now owns 2,522,141 shares of the company’s stock worth $8,323,000 after purchasing an additional 1,543,220 shares during the period. 52.56% of the stock is owned by institutional investors.

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.