Keefe, Bruyette & Woods Increases Blend Labs (NYSE:BLND) Price Target to $3.00

Blend Labs (NYSE:BLND) had its price objective hoisted by stock analysts at Keefe, Bruyette & Woods from $2.65 to $3.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 7.14% from the company’s current price.

Several other research analysts have also recently weighed in on BLND. The Goldman Sachs Group boosted their price objective on Blend Labs from $1.60 to $3.10 and gave the stock a “buy” rating in a research report on Friday, March 15th. Canaccord Genuity Group restated a “hold” rating and set a $3.00 price objective on shares of Blend Labs in a report on Wednesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.15.

Blend Labs Price Performance

Blend Labs stock opened at $2.80 on Friday. The stock’s 50 day moving average is $2.75 and its 200 day moving average is $2.29. Blend Labs has a one year low of $0.80 and a one year high of $3.40. The firm has a market cap of $705.74 million, a P/E ratio of -3.64 and a beta of 1.10. The company has a debt-to-equity ratio of 34.81, a current ratio of 5.38 and a quick ratio of 5.38.

Blend Labs (NYSE:BLND) last announced its earnings results on Friday, March 15th. The company reported ($0.10) earnings per share 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 business had revenue of $36.10 million during the quarter, compared to the consensus estimate of $37.52 million. As a group, research analysts expect that Blend Labs will post -0.47 EPS for the current year.

Insider Buying and Selling at Blend Labs

In related news, insider Nima Ghamsari sold 81,700 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $2.99, for a total transaction of $244,283.00. Following the transaction, the insider now owns 34,774 shares of the company’s stock, valued at approximately $103,974.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 11.83% of the company’s stock.

Hedge Funds Weigh In On Blend Labs

Hedge funds have recently modified their holdings of the company. JPL Wealth Management LLC purchased a new position in shares of Blend Labs during the fourth quarter valued at approximately $26,000. AMG National Trust Bank bought a new position in Blend Labs in the 4th quarter worth $37,000. Thrive Capital Management LLC purchased a new stake in shares of Blend Labs in the 3rd quarter worth about $46,000. Moneta Group Investment Advisors LLC bought a new stake in shares of Blend Labs during the 3rd quarter valued at about $52,000. Finally, Berylson Capital Partners LLC purchased a new position in shares of Blend Labs during the fourth quarter valued at about $52,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

About Blend Labs

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.