Blend Labs, Inc. (NYSE:BLND) Given Consensus Recommendation of “Moderate Buy” by Analysts

Blend Labs, Inc. (NYSE:BLND) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $4.90.

A number of research firms have issued reports on BLND. Keefe, Bruyette & Woods lifted their price objective on Blend Labs from $3.50 to $4.00 and gave the stock a “market perform” rating in a research note on Monday, May 19th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.25 price objective on shares of Blend Labs in a research note on Monday, May 12th. Wells Fargo & Company reduced their price objective on Blend Labs from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. UBS Group reduced their price objective on Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Finally, The Goldman Sachs Group reduced their price objective on Blend Labs from $5.60 to $4.80 and set a “buy” rating on the stock in a research note on Monday, May 12th.

Hedge Funds Weigh In On Blend Labs

A number of large investors have recently bought and sold shares of BLND. Lightspeed Management Company L.L.C. purchased a new position in Blend Labs during the 4th quarter valued at $97,366,000. Whitebark Investors LP purchased a new position in Blend Labs during the 4th quarter valued at $10,895,000. Mirabella Financial Services LLP purchased a new position in Blend Labs during the 4th quarter valued at $6,765,000. Invesco Ltd. boosted its holdings in Blend Labs by 1,230.9% during the 4th quarter. Invesco Ltd. now owns 1,576,347 shares of the company’s stock valued at $6,636,000 after acquiring an additional 1,457,901 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Blend Labs during the 4th quarter valued at $5,722,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Blend Labs Trading Down 2.2%

Shares of BLND opened at $3.51 on Friday. The business’s 50 day moving average is $3.40 and its 200 day moving average is $3.77. The company has a market capitalization of $911.41 million, a PE ratio of -10.32 and a beta of 1.30. Blend Labs has a 12-month low of $2.08 and a 12-month high of $5.53.

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.