Blend Labs, Inc. (NYSE:BLND) Receives Average Rating of “Hold” from Brokerages

Shares of Blend Labs, Inc. (NYSE:BLND) have been given an average recommendation of “Hold” by the eight analysts that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $3.0667.

BLND has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $3.00 price target on shares of Blend Labs in a research report on Friday. Citigroup restated a “market outperform” rating on shares of Blend Labs in a research report on Tuesday, July 21st. Wells Fargo & Company lowered their target price on shares of Blend Labs from $4.00 to $3.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $4.00 target price on shares of Blend Labs in a report on Tuesday, July 21st. Finally, Zacks Research lowered Blend Labs from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th.

Institutional Trading of Blend Labs

Several institutional investors have recently made changes to their positions in BLND. PFG Advisors grew its stake in shares of Blend Labs by 4.9% in the 4th quarter. PFG Advisors now owns 78,956 shares of the company’s stock worth $240,000 after buying an additional 3,684 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Blend Labs by 18.4% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 33,922 shares of the company’s stock valued at $124,000 after buying an additional 5,265 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Blend Labs by 40.1% in the 4th quarter. Covestor Ltd now owns 18,909 shares of the company’s stock valued at $57,000 after acquiring an additional 5,409 shares during the last quarter. Barclays PLC lifted its holdings in shares of Blend Labs by 1.5% in the 4th quarter. Barclays PLC now owns 397,203 shares of the company’s stock valued at $1,207,000 after acquiring an additional 6,001 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Blend Labs by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,961 shares of the company’s stock worth $371,000 after acquiring an additional 7,368 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Blend Labs Trading Down 4.3%

Blend Labs stock opened at $1.45 on Friday. The firm has a 50 day moving average of $1.74 and a 200 day moving average of $1.73. The firm has a market capitalization of $349.86 million, a price-to-earnings ratio of -16.05 and a beta of 1.09. Blend Labs has a 12-month low of $1.18 and a 12-month high of $4.49.

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.