Blend Labs’ (BLND) “Market Outperform” Rating Reiterated at Citizens Jmp

Citizens Jmp reaffirmed their market outperform rating on shares of Blend Labs (NYSE:BLND) in a research report released on Tuesday,Benzinga reports. They currently have a $4.00 target price on the stock.

BLND has been the topic of several other research reports. Keefe, Bruyette & Woods decreased their price target on Blend Labs from $2.25 to $1.90 and set a “market perform” rating on the stock in a report on Friday, May 8th. Weiss Ratings cut Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Zacks Research downgraded shares of Blend Labs from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. The Goldman Sachs Group set a $3.50 target price on shares of Blend Labs in a research note on Friday, May 8th. Finally, Canaccord Genuity Group lowered their price target on shares of Blend Labs from $5.25 to $4.50 and set a “buy” rating for the company in a research report on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.32.

Blend Labs Stock Performance

Shares of BLND opened at $1.71 on Tuesday. The firm has a market capitalization of $412.81 million, a price-to-earnings ratio of -17.05 and a beta of 1.10. The business’s fifty day moving average price is $1.69 and its two-hundred day moving average price is $1.85. Blend Labs has a 52 week low of $1.18 and a 52 week high of $4.49.

Institutional Investors Weigh In On Blend Labs

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

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.