Blend Labs (NYSE:BLND) Receives Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Blend Labs (NYSE:BLND) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $5.25 price target on the stock.

Several other brokerages also recently commented on BLND. Weiss Ratings restated a “sell (d-)” rating on shares of Blend Labs in a research note on Wednesday, October 8th. UBS Group reduced their target price on shares of Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Blend Labs from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Blend Labs from $4.00 to $3.75 and set a “market perform” rating on the stock in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Blend Labs has an average rating of “Moderate Buy” and an average target price of $4.88.

Blend Labs Stock Performance

Shares of NYSE:BLND opened at $3.45 on Tuesday. Blend Labs has a 52 week low of $2.63 and a 52 week high of $5.53. The company’s fifty day moving average is $3.65 and its 200-day moving average is $3.48. The company has a market capitalization of $894.54 million, a PE ratio of -22.97 and a beta of 1.24.

Blend Labs (NYSE:BLND) last issued its earnings results on Thursday, August 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.05). The firm had revenue of $31.52 million for the quarter, compared to the consensus estimate of $31.93 million. Blend Labs has set its Q3 2025 guidance at EPS. On average, analysts forecast that Blend Labs will post -0.19 EPS for the current year.

Insider Activity

In related news, insider Nima Ghamsari sold 311,886 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $2.90, for a total transaction of $904,469.40. Following the transaction, the insider owned 5,754,051 shares in the company, valued at $16,686,747.90. This represents a 5.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Kneafsey sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $3.34, for a total value of $83,500.00. Following the sale, the insider directly owned 687,909 shares of the company’s stock, valued at $2,297,616.06. This represents a 3.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 361,886 shares of company stock worth $1,059,719. 35.52% of the stock is owned by corporate insiders.

Institutional Trading of Blend Labs

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Blend Labs by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 17,586,601 shares of the company’s stock worth $58,915,000 after purchasing an additional 775,091 shares during the last quarter. Metavasi Capital LP raised its holdings in Blend Labs by 15.6% during the 1st quarter. Metavasi Capital LP now owns 5,554,101 shares of the company’s stock worth $18,606,000 after purchasing an additional 750,000 shares during the last quarter. Whitebark Investors LP raised its holdings in Blend Labs by 4.6% during the 2nd quarter. Whitebark Investors LP now owns 4,853,883 shares of the company’s stock worth $16,018,000 after purchasing an additional 214,609 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in Blend Labs by 28.2% during the 1st quarter. EdgePoint Investment Group Inc. now owns 3,318,924 shares of the company’s stock worth $11,118,000 after purchasing an additional 729,512 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Blend Labs by 157.6% during the 2nd quarter. Marshall Wace LLP now owns 2,522,141 shares of the company’s stock worth $8,323,000 after purchasing an additional 1,543,220 shares during the last quarter. 52.56% of the stock is owned by institutional investors.

Blend Labs Company Profile

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.