Canaccord Genuity Group reaffirmed their hold rating on shares of Blend Labs (NYSE:BLND – Free Report) in a report published on Wednesday, Benzinga reports. They currently have a $3.00 price target on the stock.
A number of other analysts also recently commented on BLND. The Goldman Sachs Group boosted their price target on shares of Blend Labs from $1.60 to $3.10 and gave the stock a buy rating in a research report on Friday, March 15th. Keefe, Bruyette & Woods boosted their target price on shares of Blend Labs from $1.85 to $2.65 and gave the stock a market perform rating in a report on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $3.06.
Read Our Latest Research Report on BLND
Blend Labs Price Performance
Blend Labs (NYSE:BLND – Get Free Report) last released its quarterly earnings results on Friday, March 15th. The company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). Blend Labs had a negative net margin of 118.15% and a negative return on equity of 595.99%. The company had revenue of $36.10 million for the quarter, compared to the consensus estimate of $37.52 million. On average, sell-side analysts expect that Blend Labs will post -0.47 earnings per share for the current year.
Insider Activity
In other news, insider Nima Ghamsari sold 100,807 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $2.45, for a total transaction of $246,977.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 11.83% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLND. Formation8 GP LLC bought a new stake in Blend Labs in the fourth quarter worth approximately $41,362,000. Citigroup Inc. grew its position in Blend Labs by 327,281.9% in the third quarter. Citigroup Inc. now owns 379,763 shares of the company’s stock worth $520,000 after acquiring an additional 379,647 shares in the last quarter. G2 Investment Partners Management LLC bought a new stake in Blend Labs in the fourth quarter worth approximately $956,000. Mirae Asset Global Investments Co. Ltd. grew its position in Blend Labs by 15.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,502 shares of the company’s stock worth $947,000 after acquiring an additional 38,479 shares in the last quarter. Finally, ClariVest Asset Management LLC grew its position in Blend Labs by 19.6% in the first quarter. ClariVest Asset Management LLC now owns 245,071 shares of the company’s stock worth $796,000 after acquiring an additional 40,158 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.
Blend Labs Company Profile
Blend Labs, Inc engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty.
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