Blend Labs, Inc. (NYSE:BLND) Receives Consensus Rating of “Moderate Buy” from Analysts

Blend Labs, Inc. (NYSE:BLND) has been given an average recommendation of “Moderate Buy” by the nine research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5.11.

Several equities analysts have recently weighed in on BLND shares. Keefe, Bruyette & Woods lifted their target price on shares of Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a report on Thursday, November 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.75 price objective on shares of Blend Labs in a report on Friday, December 20th. UBS Group upped their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Citizens Jmp upgraded Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company lifted their price target on Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, December 5th.

Blend Labs Stock Up 0.3 %

Shares of BLND stock opened at $3.74 on Thursday. The stock has a market cap of $957.18 million, a PE ratio of -11.00 and a beta of 1.38. Blend Labs has a 52-week low of $2.08 and a 52-week high of $5.53. The business has a 50-day simple moving average of $4.59 and a 200-day simple moving average of $3.76.

Insiders Place Their Bets

In other news, insider Oxana Tkach sold 18,324 shares of Blend Labs stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.18, for a total transaction of $94,918.32. Following the transaction, the insider now owns 88,677 shares in the company, valued at $459,346.86. The trade was a 17.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy J. Mayopoulos sold 42,721 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $5.00, for a total transaction of $213,605.00. Following the completion of the sale, the director now directly owns 387,620 shares of the company’s stock, valued at $1,938,100. This represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,782 shares of company stock valued at $1,182,878 in the last 90 days. 13.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Blend Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP purchased a new position in shares of Blend Labs during the 2nd quarter worth $31,000. Xponance Inc. purchased a new stake in Blend Labs in the 2nd quarter valued at about $35,000. Virtu Financial LLC acquired a new position in Blend Labs in the third quarter valued at about $63,000. RiverPark Advisors LLC purchased a new position in Blend Labs during the third quarter worth about $77,000. Finally, FMR LLC increased its position in shares of Blend Labs by 15.8% during the third quarter. FMR LLC now owns 26,148 shares of the company’s stock valued at $98,000 after acquiring an additional 3,576 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Blend Labs Company Profile

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.