Blend Labs (NYSE:BLND) Given New $4.50 Price Target at Wells Fargo & Company

by · The Cerbat Gem

Blend Labs (NYSE:BLND – Get Free Report) had its price target raised by stock analysts at Wells Fargo & Company from $3.50 to $4.50 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 8.70% from the company’s previous close.

Several other research analysts have also weighed in on the company. UBS Group upped their target price on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. William Blair raised Blend Labs from a “market perform” rating to an “outperform” rating in a research report on Friday, August 9th. Canaccord Genuity Group raised Blend Labs from a “hold” rating to a “buy” rating and increased their price objective for the company from $3.00 to $4.75 in a report on Monday, August 12th. The Goldman Sachs Group increased their price objective on Blend Labs from $3.00 to $3.40 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods increased their price objective on Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.38.

View Our Latest Research Report on BLND

Blend Labs Price Performance

Blend Labs stock traded up $0.28 during mid-day trading on Thursday, hitting $4.14. The company’s stock had a trading volume of 2,254,627 shares, compared to its average volume of 2,255,079. The firm’s 50 day moving average is $3.64 and its 200 day moving average is $3.12. The company has a market cap of $1.05 billion, a PE ratio of -8.53 and a beta of 1.16. Blend Labs has a 52-week low of $1.16 and a 52-week high of $4.25.

Blend Labs (NYSE:BLND – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $40.48 million during the quarter, compared to analysts’ expectations of $39.50 million. As a group, analysts forecast that Blend Labs will post -0.27 EPS for the current year.

Insider Buying and Selling

In other Blend Labs news, insider Winnie Ling sold 10,000 shares of Blend Labs stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $4.06, for a total transaction of $40,600.00. Following the transaction, the insider now directly owns 279,169 shares in the company, valued at approximately $1,133,426.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 54,303 shares of company stock valued at $192,926 over the last three months. Company insiders own 13.21% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Dark Forest Capital Management LP bought a new stake in Blend Labs in the second quarter valued at approximately $31,000. Xponance Inc. bought a new stake in Blend Labs in the second quarter valued at approximately $35,000. Caxton Associates LP bought a new stake in Blend Labs in the first quarter valued at approximately $60,000. SG Americas Securities LLC bought a new stake in Blend Labs in the first quarter valued at approximately $70,000. Finally, RiverPark Advisors LLC bought a new stake in Blend Labs in the third quarter valued at approximately $77,000. 52.56% of the stock is owned by institutional investors and hedge funds.

About Blend Labs

(Get Free Report)

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.

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