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

Shares of Blend Labs, Inc. (NYSE:BLND) have received an average rating of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $3.3167.

Several analysts have issued reports on BLND shares. The Goldman Sachs Group set a $3.50 target price on Blend Labs in a research note on Friday, May 8th. Wells Fargo & Company cut their target price on Blend Labs from $5.00 to $4.00 and set an “overweight” rating for the company in a research note on Wednesday, March 11th. Keefe, Bruyette & Woods cut their target price on Blend Labs from $2.25 to $1.90 and set a “market perform” rating for the company in a research note on Friday, May 8th. Canaccord Genuity Group cut their target price on Blend Labs from $5.25 to $4.50 and set a “buy” rating for the company in a research note on Friday, May 15th. Finally, UBS Group cut their target price on Blend Labs from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Wednesday, March 11th.

Blend Labs Price Performance

Shares of BLND opened at $1.47 on Friday. The firm has a market cap of $354.70 million, a P/E ratio of -14.65 and a beta of 1.03. The stock has a 50 day simple moving average of $1.58 and a two-hundred day simple moving average of $2.28. Blend Labs has a 1 year low of $1.18 and a 1 year high of $4.49.

Institutional Trading of Blend Labs

Institutional investors have recently made changes to their positions in the stock. Royce & Associates LP boosted its stake in shares of Blend Labs by 73.9% during the third quarter. Royce & Associates LP now owns 1,671,240 shares of the company’s stock valued at $6,100,000 after purchasing an additional 709,989 shares during the period. Tudor Investment Corp ET AL boosted its stake in shares of Blend Labs by 81.0% during the third quarter. Tudor Investment Corp ET AL now owns 1,300,087 shares of the company’s stock valued at $4,745,000 after purchasing an additional 581,622 shares during the period. Mirabella Financial Services LLP boosted its stake in shares of Blend Labs by 64.5% during the third quarter. Mirabella Financial Services LLP now owns 2,643,777 shares of the company’s stock valued at $9,650,000 after purchasing an additional 1,036,777 shares during the period. ShawSpring Partners LLC boosted its stake in shares of Blend Labs by 10.4% during the third quarter. ShawSpring Partners LLC now owns 9,840,605 shares of the company’s stock valued at $35,918,000 after purchasing an additional 929,566 shares during the period. Finally, Citigroup Inc. boosted its stake in shares of Blend Labs by 475.9% during the third quarter. Citigroup Inc. now owns 590,393 shares of the company’s stock valued at $2,155,000 after purchasing an additional 487,883 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

About Blend Labs

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.