Blend Labs (NYSE:BLND) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

by · The Markets Daily

Blend Labs (NYSE:BLND – Get Free Report) had its target price boosted by research analysts at Wells Fargo & Company from $3.50 to $4.50 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 5.26% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods raised their target price on shares of Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research note on Thursday. The Goldman Sachs Group raised their price objective on Blend Labs from $3.00 to $3.40 and gave the company a “buy” rating in a research report on Friday, August 9th. Canaccord Genuity Group boosted their price target on Blend Labs from $4.75 to $5.75 and gave the stock a “buy” rating in a research report on Thursday. UBS Group increased their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, William Blair raised shares of Blend Labs from a “market perform” rating to an “outperform” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Blend Labs currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.46.

View Our Latest Research Report on BLND

Blend Labs Stock Up 7.0 %

Shares of BLND opened at $4.75 on Thursday. Blend Labs has a fifty-two week low of $1.16 and a fifty-two week high of $4.75. The company’s fifty day moving average is $3.67 and its two-hundred day moving average is $3.15. The firm has a market cap of $1.21 billion, a PE ratio of -9.69 and a beta of 1.16.

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

Insider Activity

In related news, insider Winnie Ling sold 20,000 shares of Blend Labs stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $3.33, for a total value of $66,600.00. Following the completion of the transaction, the insider now directly owns 286,416 shares in the company, valued at approximately $953,765.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 54,303 shares of company stock worth $192,926. 13.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BLND. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Blend Labs by 15.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,502 shares of the company’s stock valued at $947,000 after acquiring an additional 38,479 shares during the last quarter. SG Americas Securities LLC bought a new position in Blend Labs during the first quarter worth $70,000. ClariVest Asset Management LLC lifted its stake in Blend Labs by 19.6% during the first quarter. ClariVest Asset Management LLC now owns 245,071 shares of the company’s stock worth $796,000 after purchasing an additional 40,158 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Blend Labs during the first quarter worth $94,000. Finally, Vanguard Group Inc. lifted its stake in Blend Labs by 0.5% during the first quarter. Vanguard Group Inc. now owns 9,249,111 shares of the company’s stock worth $30,060,000 after purchasing an additional 46,526 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Blend Labs Company Profile

(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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