UBS Group Boosts Blend Labs (NYSE:BLND) Price Target to $4.00

Blend Labs (NYSE:BLND - Free Report) had its price objective boosted by UBS Group from $3.00 to $4.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also issued reports on BLND. The Goldman Sachs Group lifted their price target on Blend Labs from $3.00 to $3.40 and gave the stock a "buy" rating in a research note 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. Keefe, Bruyette & Woods raised their price target on shares of Blend Labs from $3.00 to $3.25 and gave the stock a "market perform" rating in a research note on Monday, August 12th. Canaccord Genuity Group raised shares of Blend Labs from a "hold" rating to a "buy" rating and upped their price objective for the company from $3.00 to $4.75 in a research note on Monday, August 12th. Finally, Canaccord Genuity Group raised shares of Blend Labs from a "hold" rating to a "buy" rating and raised their target price for the stock from $3.00 to $4.75 in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $3.94.

Blend Labs Stock Performance

Blend Labs stock traded down $0.14 during trading on Wednesday, reaching $3.32. The company had a trading volume of 1,747,934 shares, compared to its average volume of 2,277,726. The firm has a market capitalization of $836.63 million, a PE ratio of -5.52 and a beta of 1.15. The firm's 50-day simple moving average is $3.70 and its 200 day simple moving average is $3.05. Blend Labs has a 1-year low of $1.15 and a 1-year high of $4.25.

Blend Labs (NYSE:BLND - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.04. The company had revenue of $40.48 million for the quarter, compared to analysts' expectations of $39.50 million. Analysts anticipate that Blend Labs will post -0.27 EPS for the current year.

Insiders Place Their Bets

In other news, insider Winnie Ling sold 20,000 shares of Blend Labs stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3.43, for a total value of $68,600.00. Following the completion of the sale, the insider now directly owns 259,169 shares of the company's stock, valued at approximately $888,949.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 54,303 shares of company stock worth $192,926 over the last ninety days. Corporate insiders own 11.83% of the company's stock.

Institutional Investors Weigh In On Blend Labs

Several large investors have recently bought and sold shares of the stock. Dark Forest Capital Management LP purchased a new stake in Blend Labs during the second quarter worth approximately $31,000. Xponance Inc. acquired a new position in Blend Labs in the second quarter valued at $35,000. Caxton Associates LP purchased a new position in shares of Blend Labs during the first quarter worth about $60,000. Cannon Global Investment Management LLC acquired a new stake in shares of Blend Labs during the first quarter worth about $65,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Blend Labs in the 1st quarter valued at about $70,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

About Blend Labs

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.