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

Blend Labs, Inc. (NYSE:BLND) has been given a consensus recommendation of “Hold” by the seven research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $3.3167.

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods decreased their price target 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 decreased their price target 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. Citizens Jmp decreased their price target on Blend Labs from $5.00 to $4.00 and set a “market outperform” rating for the company in a research note on Friday, May 8th. Weiss Ratings cut Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Finally, Wells Fargo & Company decreased their price target 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.

Blend Labs Trading Down 9.3%

Blend Labs stock opened at $1.61 on Thursday. The business’s fifty day simple moving average is $1.56 and its two-hundred day simple moving average is $2.10. Blend Labs has a 12 month low of $1.18 and a 12 month high of $4.49. The company has a market capitalization of $388.60 million, a price-to-earnings ratio of -16.05 and a beta of 1.09.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BLND. Revolve Wealth Partners LLC purchased a new position in shares of Blend Labs in the fourth quarter worth $132,000. AQR Capital Management LLC raised its stake in shares of Blend Labs by 32.2% in the first quarter. AQR Capital Management LLC now owns 883,296 shares of the company’s stock worth $2,959,000 after purchasing an additional 214,998 shares during the last quarter. Creative Planning increased its position in Blend Labs by 81.4% during the second quarter. Creative Planning now owns 34,036 shares of the company’s stock valued at $112,000 after acquiring an additional 15,276 shares during the last quarter. Legal & General Group Plc increased its position in Blend Labs by 18.4% during the second quarter. Legal & General Group Plc now owns 241,030 shares of the company’s stock valued at $795,000 after acquiring an additional 37,373 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in Blend Labs by 587.0% during the second quarter. Prudential Financial Inc. now owns 123,220 shares of the company’s stock valued at $407,000 after acquiring an additional 105,285 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Blend Labs Company Profile

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.