Brokerages Set Blend Labs, Inc. (NYSE:BLND) Target Price at $4.46

Shares of Blend Labs, Inc. (NYSE:BLND) have earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $4.46.

A number of equities analysts have recently issued reports on the stock. William Blair upgraded shares of Blend Labs from a “market perform” rating to an “outperform” rating in a research note on Friday, August 9th. Canaccord Genuity Group lifted their price target on Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group upped 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. Keefe, Bruyette & Woods lifted their target price on Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, UBS Group raised their price target on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd.

Blend Labs Price Performance

NYSE:BLND opened at $5.18 on Wednesday. Blend Labs has a 1-year low of $1.21 and a 1-year high of $5.40. The company has a 50-day moving average of $3.96 and a 200 day moving average of $3.34. The firm has a market cap of $1.33 billion, a PE ratio of -15.23 and a beta of 1.16.

Insiders Place Their Bets

In other Blend Labs news, insider Oxana Tkach sold 18,324 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $5.18, for a total value of $94,918.32. Following the completion of the transaction, the insider now owns 88,677 shares of the company’s stock, valued at approximately $459,346.86. This trade represents a 17.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy J. Mayopoulos sold 42,721 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $5.00, for a total value of $213,605.00. Following the completion of the transaction, the director now owns 387,620 shares of the company’s stock, valued at $1,938,100. This trade represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,348 shares of company stock valued at $501,449. 13.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blend Labs

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dark Forest Capital Management LP purchased a new stake in shares of Blend Labs in the 2nd quarter valued at $31,000. Xponance Inc. acquired a new position in Blend Labs during the second quarter valued at $35,000. Caxton Associates LP purchased a new stake in Blend Labs in the first quarter valued at $60,000. Virtu Financial LLC acquired a new stake in Blend Labs during the 3rd quarter worth about $63,000. Finally, SG Americas Securities LLC purchased a new position in shares of Blend Labs during the 1st quarter valued at about $70,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

About Blend Labs

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.