Blend Labs (NYSE:BLND) Raised to “Hold” at Zacks Research

Blend Labs (NYSE:BLND) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of Blend Labs from $2.25 to $1.90 and set a “market perform” rating for the company in a research note on Friday, May 8th. Weiss Ratings downgraded Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group set a $3.00 price objective on Blend Labs in a report on Friday, August 7th. Wells Fargo & Company reduced their price objective on Blend Labs from $4.00 to $3.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Finally, Citigroup reissued a “market outperform” rating on shares of Blend Labs in a report on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.82.

Blend Labs Stock Up 3.1%

Shares of Blend Labs stock opened at $1.50 on Tuesday. The company has a market cap of $353.58 million, a price-to-earnings ratio of -16.61 and a beta of 1.09. The company’s 50 day moving average is $1.71 and its 200 day moving average is $1.68. Blend Labs has a twelve month low of $1.18 and a twelve month high of $4.49.

Hedge Funds Weigh In On Blend Labs

Institutional investors have recently bought and sold shares of the stock. Essential Partners LLC lifted its position in Blend Labs by 21,768.1% during the first quarter. Essential Partners LLC now owns 15,745 shares of the company’s stock valued at $27,000 after purchasing an additional 15,673 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Blend Labs during the third quarter valued at about $32,000. Captrust Financial Advisors purchased a new stake in Blend Labs in the second quarter worth about $35,000. Jump Financial LLC purchased a new stake in Blend Labs in the second quarter worth about $38,000. Finally, Cibc World Markets Corp bought a new position in shares of Blend Labs in the fourth quarter worth about $40,000. 52.56% of the stock is owned by 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.