Blend Labs, Inc. (NYSE:BLND) Receives $4.79 Consensus Target Price from Brokerages

Blend Labs, Inc. (NYSE:BLND) has been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $4.79.

BLND has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price target on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group lifted their target price on Blend Labs from $4.75 to $5.75 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price target on Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, December 5th. The Goldman Sachs Group raised their price objective on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, UBS Group boosted their target price on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd.

Insider Buying and Selling

In other news, insider Brian Kneafsey sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $5.12, for a total transaction of $153,600.00. Following the completion of the transaction, the insider now owns 937,439 shares in the company, valued at approximately $4,799,687.68. This trade represents a 3.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Timothy J. Mayopoulos sold 42,721 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $5.00, for a total transaction of $213,605.00. Following the sale, the director now directly owns 387,620 shares of the company’s stock, valued at approximately $1,938,100. This represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 181,838 shares of company stock valued at $899,144 in the last three months. 13.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dark Forest Capital Management LP acquired a new position in shares of Blend Labs in the 2nd quarter worth $31,000. Xponance Inc. acquired a new position in shares of Blend Labs in the 2nd quarter valued at $35,000. Virtu Financial LLC purchased a new position in Blend Labs in the 3rd quarter worth about $63,000. RiverPark Advisors LLC acquired a new stake in Blend Labs during the 3rd quarter worth about $77,000. Finally, FMR LLC lifted its stake in 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 buying an additional 3,576 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Blend Labs Price Performance

NYSE BLND opened at $5.04 on Friday. The company’s fifty day moving average price is $4.38 and its two-hundred day moving average price is $3.58. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -14.82 and a beta of 1.33. Blend Labs has a 12 month low of $2.08 and a 12 month high of $5.53.

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.