Blend Labs (NYSE:BLND) Given “Market Outperform” Rating at Citizens Jmp

Citizens Jmp reissued their market outperform rating on shares of Blend Labs (NYSE:BLND) in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a $4.00 price objective on the stock.

Several other research firms have also recently issued reports on BLND. The Goldman Sachs Group set a $3.50 price objective on Blend Labs in a report on Friday, May 8th. Keefe, Bruyette & Woods dropped their target price on Blend Labs from $2.25 to $1.90 and set a “market perform” rating for the company in a research note on Friday, May 8th. Zacks Research downgraded Blend Labs from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Citigroup reissued a “market outperform” rating on shares of Blend Labs in a research note on Tuesday. Finally, Canaccord Genuity Group dropped their price objective on shares of Blend Labs from $5.25 to $4.50 and set a “buy” rating for the company in a research note on Friday, May 15th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Blend Labs currently has an average rating of “Hold” and a consensus target price of $3.32.

Blend Labs Stock Performance

Shares of NYSE BLND opened at $1.89 on Tuesday. The firm has a market cap of $456.40 million, a P/E ratio of -18.85 and a beta of 1.10. Blend Labs has a 1 year low of $1.18 and a 1 year high of $4.49. The firm’s 50 day moving average price is $1.67 and its 200 day moving average price is $1.87.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. PFG Advisors boosted its position in shares of Blend Labs by 4.9% in the fourth quarter. PFG Advisors now owns 78,956 shares of the company’s stock worth $240,000 after buying an additional 3,684 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of Blend Labs by 18.4% in the third quarter. Moneta Group Investment Advisors LLC now owns 33,922 shares of the company’s stock valued at $124,000 after buying an additional 5,265 shares in the last quarter. Covestor Ltd raised its holdings in shares of Blend Labs by 40.1% during the 4th quarter. Covestor Ltd now owns 18,909 shares of the company’s stock valued at $57,000 after buying an additional 5,409 shares during the period. Barclays PLC raised its holdings in shares of Blend Labs by 1.5% during the 4th quarter. Barclays PLC now owns 397,203 shares of the company’s stock valued at $1,207,000 after buying an additional 6,001 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Blend Labs by 6.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 121,961 shares of the company’s stock worth $371,000 after acquiring an additional 7,368 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Blend Labs Company Profile

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.