Blend Labs, Inc. (NYSE:BLND) Given Consensus Rating of “Hold” by Brokerages

Shares of Blend Labs, Inc. (NYSE:BLNDGet Rating) have been given a consensus rating of “Hold” by the twelve brokerages that are covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $9.45.

A number of research analysts have recently commented on the company. Piper Sandler downgraded Blend Labs from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $10.00 to $5.50 in a research report on Friday, April 1st. Canaccord Genuity Group downgraded Blend Labs from a “buy” rating to a “hold” rating and lowered their target price for the company from $28.00 to $5.00 in a research report on Friday, April 1st. KeyCorp lowered their price target on Blend Labs from $10.00 to $6.00 and set an “overweight” rating for the company in a research report on Friday, April 1st. The Goldman Sachs Group lowered their price target on Blend Labs from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, April 19th. Finally, Canaccord Genuity Group downgraded Blend Labs from a “buy” rating to a “hold” rating and lowered their price target for the stock from $28.00 to $5.00 in a research report on Friday, April 1st.

BLND stock traded up $0.01 during midday trading on Thursday, hitting $3.41. The company’s stock had a trading volume of 2,433,834 shares, compared to its average volume of 2,359,421. Blend Labs has a 12 month low of $2.72 and a 12 month high of $21.04. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average of $5.16 and a two-hundred day moving average of $7.87.

Blend Labs (NYSE:BLNDGet Rating) last posted its earnings results on Thursday, March 31st. The company reported ($0.19) EPS for the quarter, meeting analysts’ consensus estimates of ($0.19). The firm had revenue of $80.99 million during the quarter, compared to the consensus estimate of $81.25 million. Blend Labs had a negative return on equity of 50.50% and a negative net margin of 79.46%. The firm’s quarterly revenue was up 164.4% compared to the same quarter last year. Research analysts anticipate that Blend Labs will post -0.83 EPS for the current fiscal year.

In other news, insider Crystal Sumner sold 3,884 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $8.99, for a total transaction of $34,917.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Several institutional investors have recently made changes to their positions in the company. Formation8 GP LLC purchased a new position in shares of Blend Labs during the third quarter valued at $218,652,000. Lightspeed Ultimate General Partner IX Ltd. purchased a new position in shares of Blend Labs during the fourth quarter valued at $108,767,000. Temasek Holdings Private Ltd purchased a new position in shares of Blend Labs during the third quarter valued at $160,085,000. General Atlantic L.P. purchased a new position in Blend Labs in the third quarter valued at about $154,130,000. Finally, Coatue Management LLC bought a new position in Blend Labs in the third quarter worth about $146,919,000. Hedge funds and other institutional investors own 52.80% of the company’s stock.

Blend Labs Company Profile (Get Rating)

Blend Labs, Inc provides cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company offers a suite of white-label products for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts.

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Analyst Recommendations for Blend Labs (NYSE:BLND)

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