Blend Labs (NYSE:BLND) Price Target Lowered to $5.00 at Wells Fargo & Company

Blend Labs (NYSE:BLND - Get Free Report) had its price objective lowered by equities research analysts at Wells Fargo & Company from $6.00 to $5.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 65.02% from the company's previous close.

A number of other equities analysts have also weighed in on BLND. Keefe, Bruyette & Woods lowered their price target on shares of Blend Labs from $3.85 to $3.50 and set a "market perform" rating on the stock in a research report on Monday, March 3rd. UBS Group cut their target price on Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Friday, February 28th. Finally, Canaccord Genuity Group lowered their price target on shares of Blend Labs from $5.75 to $5.25 and set a "buy" rating on the stock in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $4.70.

Blend Labs Price Performance

Shares of Blend Labs stock opened at $3.03 on Tuesday. The business has a 50 day simple moving average of $3.42 and a two-hundred day simple moving average of $3.91. The stock has a market capitalization of $786.78 million, a P/E ratio of -8.91 and a beta of 1.29. Blend Labs has a 12 month low of $2.08 and a 12 month high of $5.53.

Insider Buying and Selling at Blend Labs

In other Blend Labs news, insider Brian Kneafsey sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $3.73, for a total value of $111,900.00. Following the completion of the sale, the insider now owns 776,759 shares in the company, valued at approximately $2,897,311.07. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blend Labs

A number of large investors have recently bought and sold shares of BLND. Merit Financial Group LLC purchased a new stake in shares of Blend Labs during the 1st quarter worth approximately $36,000. JPL Wealth Management LLC purchased a new stake in Blend Labs in the 4th quarter valued at approximately $42,000. Balyasny Asset Management L.P. purchased a new position in Blend Labs during the fourth quarter worth $46,000. Olympiad Research LP acquired a new position in shares of Blend Labs in the fourth quarter worth $47,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Blend Labs during the first quarter valued at $51,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

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.

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