Canaccord Genuity Group Issues Pessimistic Forecast for Blend Labs (NYSE:BLND) Stock Price

by · The Cerbat Gem

Blend Labs (NYSE:BLND – Get Free Report) had its price objective cut by analysts at Canaccord Genuity Group from $5.25 to $4.50 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 224.91% from the company’s current price.

A number of other research firms have also commented on BLND. The Goldman Sachs Group set a $3.50 price objective on shares of Blend Labs in a research note on Friday, May 8th. UBS Group lowered 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 report on Wednesday, March 11th. Citigroup reiterated an “outperform” rating on shares of Blend Labs in a research report on Friday, May 8th. Wells Fargo & Company lowered their price objective on shares of Blend Labs from $5.00 to $4.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 11th. Finally, Weiss Ratings cut shares of Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.32.

Get Our Latest Report on Blend Labs

Blend Labs Trading Down 5.1%

BLND stock opened at $1.39 on Friday. Blend Labs has a one year low of $1.18 and a one year high of $4.49. The firm has a market capitalization of $356.10 million, a PE ratio of -13.85 and a beta of 1.03. The firm has a 50-day moving average of $1.60 and a two-hundred day moving average of $2.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capricorn Fund Managers Ltd purchased a new position in shares of Blend Labs during the 1st quarter valued at $11,049,000. Irenic Capital Management LP purchased a new position in shares of Blend Labs during the 4th quarter valued at $9,469,000. Park West Asset Management LLC purchased a new position in shares of Blend Labs during the 3rd quarter valued at $6,205,000. Potrero Capital Research LLC purchased a new position in shares of Blend Labs during the 4th quarter valued at $5,050,000. Finally, Marshall Wace LLP grew its holdings in shares of Blend Labs by 157.6% during the 2nd quarter. Marshall Wace LLP now owns 2,522,141 shares of the company’s stock valued at $8,323,000 after acquiring an additional 1,543,220 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Blend Labs Company Profile

(Get Free Report)

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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