Blend Labs, Inc. (NYSE:BLND) Receives $5.11 Average Target Price from Analysts

Blend Labs, Inc. (NYSE:BLND) has received an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.91.

Several brokerages have recently issued reports on BLND. JMP Securities began coverage on shares of Blend Labs in a report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 target price for the company. Canaccord Genuity Group lowered their target price on shares of Blend Labs from $5.75 to $5.25 and set a “buy” rating for the company in a report on Friday, February 28th. Citizens Jmp upgraded shares of Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company upped their price target on shares of Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, UBS Group reduced their price target on shares of Blend Labs from $4.00 to $3.50 and set a “neutral” rating for the company in a research report on Friday, February 28th.

Blend Labs Price Performance

Shares of BLND stock opened at $3.08 on Friday. The firm’s 50-day moving average is $3.74 and its two-hundred day moving average is $3.99. The company has a market capitalization of $786.98 million, a PE ratio of -9.04 and a beta of 1.40. Blend Labs has a 12 month low of $2.08 and a 12 month high of $5.53.

Insiders Place Their Bets

In other news, insider Brian Kneafsey sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $3.41, for a total transaction of $102,300.00. Following the completion of the transaction, the insider now directly owns 836,759 shares of the company’s stock, valued at $2,853,348.19. This trade represents a 3.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 214,247 shares of company stock worth $885,559. Insiders own 13.21% of the company’s stock.

Institutional Investors Weigh In On Blend Labs

Hedge funds have recently modified their holdings of the company. JPL Wealth Management LLC acquired a new stake in shares of Blend Labs during the 4th quarter worth about $42,000. Balyasny Asset Management L.P. purchased a new position in shares of Blend Labs during the 4th quarter worth about $46,000. Olympiad Research LP purchased a new position in shares of Blend Labs during the 4th quarter worth about $47,000. Trellis Wealth Advisors LLC purchased a new position in shares of Blend Labs during the 4th quarter worth about $57,000. Finally, BBR Partners LLC purchased a new position in shares of Blend Labs during the 4th quarter worth about $60,000. 52.56% of the stock is owned by institutional investors and hedge funds.

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.