Blend Labs, Inc. (NYSE:BLND) Given Consensus Recommendation of “Hold” by Brokerages

Blend Labs, Inc. (NYSE:BLND) has been assigned an average rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $2.8167.

Several research firms have recently issued reports on BLND. Canaccord Genuity Group decreased their target price on Blend Labs from $4.50 to $3.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Weiss Ratings downgraded shares of Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group set a $3.00 price objective on shares of Blend Labs in a research note on Friday, August 7th. Zacks Research upgraded shares of Blend Labs from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Blend Labs in a research note on Tuesday, July 21st.

Institutional Trading of Blend Labs

A number of large investors have recently made changes to their positions in the company. Capricorn Fund Managers Ltd acquired a new stake in Blend Labs during the 1st quarter worth $11,049,000. State Street Corp grew its stake in Blend Labs by 2.0% in the fourth quarter. State Street Corp now owns 5,660,693 shares of the company’s stock valued at $17,209,000 after acquiring an additional 112,330 shares during the period. Whitebark Investors LP increased its holdings in shares of Blend Labs by 14.7% in the third quarter. Whitebark Investors LP now owns 5,566,198 shares of the company’s stock worth $20,317,000 after acquiring an additional 712,315 shares in the last quarter. Irenic Capital Management LP bought a new stake in shares of Blend Labs in the fourth quarter worth about $9,469,000. Finally, Marshall Wace LLP raised its position in shares of 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. Institutional investors own 52.56% of the company’s stock.

Blend Labs Trading Up 2.6%

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 stock has a 50-day simple moving average of $1.69 and a 200 day simple moving average of $1.65. The company has a market capitalization of $368.96 million, a PE ratio of -17.33 and a beta of 1.09.

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.