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

Shares of Blend Labs, Inc. (NYSE:BLND – Get Free Report) have been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $3.3167.

Several equities analysts have issued reports on the stock. Citigroup restated an “outperform” rating on shares of Blend Labs in a research report on Friday, May 8th. 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 report on Friday, May 15th. UBS Group reduced their price objective on shares of Blend Labs from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 11th. The Goldman Sachs Group set a $3.50 price objective on Blend Labs in a report on Friday, May 8th. Finally, Keefe, Bruyette & Woods decreased their price objective on Blend Labs from $2.25 to $1.90 and set a “market perform” rating for the company in a report on Friday, May 8th.

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Hedge Funds Weigh In On Blend Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Caerus Investment Advisors LLC acquired a new position in shares of Blend Labs in the first quarter worth approximately $41,000. Essential Partners LLC raised its holdings in Blend Labs by 21,768.1% during the 1st quarter. Essential Partners LLC now owns 15,745 shares of the company’s stock worth $27,000 after purchasing an additional 15,673 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Blend Labs by 6.8% in the 1st 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 period. Rice Hall James & Associates LLC lifted its position in shares of Blend Labs by 14.0% in the 1st quarter. Rice Hall James & Associates LLC now owns 1,006,289 shares of the company’s stock worth $1,711,000 after purchasing an additional 123,699 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Blend Labs by 99.0% in the 1st quarter. Sei Investments Co. now owns 258,688 shares of the company’s stock valued at $440,000 after purchasing an additional 128,677 shares during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Blend Labs Trading Up 1.5%

NYSE:BLND opened at $1.70 on Thursday. The stock has a market cap of $410.39 million, a P/E ratio of -16.95 and a beta of 1.09. The stock’s 50-day moving average is $1.57 and its 200-day moving average is $2.05. Blend Labs has a 1-year low of $1.18 and a 1-year high of $4.49.

Blend Labs Company Profile

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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.

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