Blend Labs (NYSE:BLND) Given New $3.85 Price Target at Keefe, Bruyette & Woods

Blend Labs (NYSE:BLND) had its price objective hoisted by analysts at Keefe, Bruyette & Woods from $3.25 to $3.85 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential downside of 3.27% from the company’s previous close.

Several other equities research analysts also recently commented on BLND. The Goldman Sachs Group lifted their price objective on shares of Blend Labs from $3.00 to $3.40 and gave the stock a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity Group raised Blend Labs from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.00 to $4.75 in a research report on Monday, August 12th. Canaccord Genuity Group increased their price objective on Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a report on Thursday. UBS Group lifted their target price on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, William Blair upgraded shares of Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.21.

Blend Labs Stock Up 3.1 %

Shares of Blend Labs stock traded up $0.12 during trading on Thursday, reaching $3.98. The company’s stock had a trading volume of 1,003,566 shares, compared to its average volume of 2,249,287. Blend Labs has a 1-year low of $1.16 and a 1-year high of $4.25. The company has a 50-day simple moving average of $3.64 and a two-hundred day simple moving average of $3.12. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -8.27 and a beta of 1.16.

Blend Labs (NYSE:BLND) last released its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $40.48 million during the quarter, compared to analyst estimates of $39.50 million. As a group, analysts anticipate that Blend Labs will post -0.27 earnings per share for the current year.

Insider Transactions at Blend Labs

In related news, insider Winnie Ling sold 20,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $3.33, for a total transaction of $66,600.00. Following the sale, the insider now directly owns 286,416 shares of the company’s stock, valued at approximately $953,765.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 54,303 shares of company stock worth $192,926 over the last quarter. 13.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in Blend Labs by 15.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,502 shares of the company’s stock valued at $947,000 after buying an additional 38,479 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Blend Labs in the first quarter valued at approximately $70,000. ClariVest Asset Management LLC boosted its stake in shares of Blend Labs by 19.6% in the first quarter. ClariVest Asset Management LLC now owns 245,071 shares of the company’s stock worth $796,000 after acquiring an additional 40,158 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Blend Labs during the first quarter worth approximately $94,000. Finally, Vanguard Group Inc. raised its stake in Blend Labs by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 9,249,111 shares of the company’s stock valued at $30,060,000 after purchasing an additional 46,526 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 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.