Blend Labs, Inc. (NYSE:BLND) Receives Average Recommendation of “Hold” from Brokerages

Shares of Blend Labs, Inc. (NYSE:BLND) have received a consensus rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned 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.

BLND has been the topic of a number of research reports. Keefe, Bruyette & Woods reduced their target price on shares of Blend Labs from $2.25 to $1.90 and set a “market perform” rating on the stock in a research report on Friday, May 8th. Citigroup restated a “market outperform” rating on shares of Blend Labs in a research report on Tuesday, July 21st. Weiss Ratings lowered Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Canaccord Genuity Group lowered their target price on Blend Labs from $4.50 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Finally, The Goldman Sachs Group set a $3.00 target price on Blend Labs in a research report on Friday, August 7th.

Institutional Trading of Blend Labs

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PFG Advisors boosted its stake in shares of Blend Labs by 7.3% in the 3rd quarter. PFG Advisors now owns 75,272 shares of the company’s stock valued at $275,000 after purchasing an additional 5,131 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Blend Labs by 18.4% during the third quarter. Moneta Group Investment Advisors LLC now owns 33,922 shares of the company’s stock worth $124,000 after buying an additional 5,265 shares during the last quarter. Covestor Ltd raised its stake in shares of Blend Labs by 40.1% during the fourth quarter. Covestor Ltd now owns 18,909 shares of the company’s stock worth $57,000 after buying an additional 5,409 shares during the last quarter. Barclays PLC lifted its holdings in Blend Labs by 1.5% in the fourth quarter. Barclays PLC now owns 397,203 shares of the company’s stock valued at $1,207,000 after buying an additional 6,001 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Blend Labs by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,961 shares of the company’s stock valued at $371,000 after buying an additional 7,368 shares during the period. 52.56% of the stock is owned by institutional investors.

Blend Labs Stock Up 2.6%

Shares of NYSE:BLND opened at $1.56 on Tuesday. Blend Labs has a 12 month low of $1.18 and a 12 month high of $4.49. The company’s 50-day moving average price is $1.69 and its two-hundred day moving average price is $1.65. The firm has a market cap of $368.96 million, a P/E ratio of -17.33 and a beta of 1.09.

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.