Citizens Jmp Reiterates Market Outperform Rating for Blend Labs (NYSE:BLND)

Blend Labs (NYSE:BLND)‘s stock had its “market outperform” rating reaffirmed by Citizens Jmp in a report issued on Tuesday,Benzinga reports. They presently have a $4.00 price target on the stock. Citizens Jmp’s price target indicates a potential upside of 129.23% from the stock’s current price.

Several other equities analysts also recently commented on BLND. The Goldman Sachs Group set a $3.50 price objective on shares of Blend Labs in a research note on Friday, May 8th. Zacks Research cut shares of Blend Labs from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Keefe, Bruyette & Woods decreased their price objective on shares of Blend Labs from $2.25 to $1.90 and set a “market perform” rating for the company in a report on Friday, May 8th. Weiss Ratings cut shares of Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Finally, Canaccord Genuity Group decreased their price target on shares of Blend Labs from $5.25 to $4.50 and set a “buy” rating for the company in a research note on Friday, May 15th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.32.

Blend Labs Stock Down 7.2%

BLND opened at $1.75 on Tuesday. The stock has a market cap of $422.50 million, a PE ratio of -17.45 and a beta of 1.10. Blend Labs has a 52 week low of $1.18 and a 52 week high of $4.49. The business’s fifty day simple moving average is $1.68 and its 200 day simple moving average is $1.86.

Institutional Trading of Blend Labs

A number of institutional investors and hedge funds have recently modified their holdings of BLND. Westmount Partners LLC purchased a new position in Blend Labs in the 2nd quarter worth about $77,000. Caerus Investment Advisors LLC purchased a new stake in Blend Labs during the first quarter valued at $41,000. Essential Partners LLC lifted its holdings in Blend Labs by 21,768.1% in the first quarter. Essential Partners LLC now owns 15,745 shares of the company’s stock valued at $27,000 after acquiring an additional 15,673 shares during the period. Bank of America Corp DE boosted its position in Blend Labs by 6.8% in the first quarter. Bank of America Corp DE now owns 340,757 shares of the company’s stock worth $579,000 after purchasing an additional 21,713 shares during the last quarter. Finally, Rice Hall James & Associates LLC grew its stake in shares of Blend Labs by 14.0% during the 1st quarter. Rice Hall James & Associates LLC now owns 1,006,289 shares of the company’s stock valued at $1,711,000 after purchasing an additional 123,699 shares during the period. 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.