Blend Labs, Inc. (NYSE:BLND) Receives Average Recommendation of “Hold” from Analysts

Blend Labs, Inc. (NYSE:BLNDGet Rating) has earned an average rating of “Hold” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $9.45.

Several equities analysts recently weighed in on BLND shares. Canaccord Genuity Group cut Blend Labs from a “buy” rating to a “hold” rating and cut their price objective for the stock from $28.00 to $5.00 in a research report on Friday, April 1st. The Goldman Sachs Group cut their price objective 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. Canaccord Genuity Group cut Blend Labs from a “buy” rating to a “hold” rating and cut their price target for the company from $28.00 to $5.00 in a report on Friday, April 1st. Truist Financial cut their price target on Blend Labs from $7.50 to $5.50 and set a “hold” rating for the company in a report on Friday, April 1st. Finally, William Blair cut Blend Labs from an “outperform” rating to a “market perform” rating in a report on Monday, April 4th.

NYSE BLND opened at $2.89 on Thursday. Blend Labs has a twelve month low of $2.87 and a twelve month high of $21.04. The company has a debt-to-equity ratio of 0.28, a current ratio of 10.21 and a quick ratio of 10.21. The stock has a 50-day simple moving average of $5.46 and a 200 day simple moving average of $8.05.

Blend Labs (NYSE:BLNDGet Rating) last posted its quarterly earnings data on Thursday, March 31st. The company reported ($0.19) earnings per share for the quarter, hitting the consensus estimate of ($0.19). The business had revenue of $80.99 million for the quarter, compared to analyst estimates of $81.25 million. Blend Labs’s revenue was up 164.4% on a year-over-year basis. As a group, analysts predict that Blend Labs will post -0.83 earnings per share for the current fiscal year.

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

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada bought a new stake in Blend Labs during the 3rd quarter worth approximately $32,000. CTC Capital Management LLC bought a new stake in Blend Labs during the 1st quarter worth approximately $60,000. Sciencast Management LP bought a new stake in Blend Labs during the 1st quarter worth approximately $64,000. Solstein Capital LLC bought a new stake in Blend Labs during the 1st quarter worth approximately $68,000. Finally, WBH Advisory Inc. bought a new stake in Blend Labs during the 4th quarter worth approximately $76,000. 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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