Blend Labs (NYSE:BLND - Free Report) had its price objective lifted by Canaccord Genuity Group from $4.75 to $5.75 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.
Several other brokerages have also recently weighed in on BLND. UBS Group raised their target price on shares of Blend Labs from $3.00 to $4.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Canaccord Genuity Group raised shares of Blend Labs from a "hold" rating to a "buy" rating and raised their target price for the company from $3.00 to $4.75 in a report on Monday, August 12th. The Goldman Sachs Group raised their price objective on shares of Blend Labs from $3.00 to $3.40 and gave the stock a "buy" rating in a report on Friday, August 9th. William Blair raised shares of Blend Labs from a "market perform" rating to an "outperform" rating in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Blend Labs from $3.00 to $3.25 and gave the stock a "market perform" rating in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Blend Labs has an average rating of "Moderate Buy" and a consensus target price of $4.46.
Check Out Our Latest Stock Analysis on BLND
Blend Labs Trading Up 15.0 %
NYSE:BLND traded up $0.58 during mid-day trading on Thursday, hitting $4.44. The stock had a trading volume of 6,855,922 shares, compared to its average volume of 2,276,382. The stock has a 50-day simple moving average of $3.64 and a two-hundred day simple moving average of $3.12. The company has a market capitalization of $1.13 billion, a PE ratio of -8.45 and a beta of 1.16. Blend Labs has a twelve month low of $1.16 and a twelve month high of $4.45.
Blend Labs (NYSE:BLND - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $40.48 million during the quarter, compared to analyst estimates of $39.50 million. Sell-side analysts predict that Blend Labs will post -0.27 EPS for the current fiscal year.
Insider Transactions at Blend Labs
In other news, insider Winnie Ling sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $3.33, for a total transaction of $66,600.00. Following 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 54,303 shares of company stock worth $192,926. Insiders own 13.21% of the company's stock.
Hedge Funds Weigh In On Blend Labs
Several institutional investors have recently bought and sold shares of BLND. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 buying an additional 38,479 shares during the period. SG Americas Securities LLC acquired a new position in Blend Labs in the 1st quarter valued at $70,000. ClariVest Asset Management LLC increased its stake in Blend Labs by 19.6% in the 1st quarter. ClariVest Asset Management LLC now owns 245,071 shares of the company's stock valued at $796,000 after buying an additional 40,158 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Blend Labs in the 1st quarter valued at $94,000. Finally, Vanguard Group Inc. increased its stake in Blend Labs by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 9,249,111 shares of the company's stock valued at $30,060,000 after buying an additional 46,526 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.
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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