Blend Labs (NYSE:BLND) Price Target Raised to $4.50 at Wells Fargo & Company

Blend Labs (NYSE:BLND) had its price objective raised by Wells Fargo & Company from $3.50 to $4.50 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also commented on BLND. UBS Group boosted their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. William Blair raised shares of Blend Labs from a “market perform” rating to an “outperform” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods upped their price objective on shares of Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research note on Thursday. Canaccord Genuity Group raised shares of Blend Labs from a “hold” rating to a “buy” rating and increased their target price for the stock from $3.00 to $4.75 in a research report on Monday, August 12th. Finally, The Goldman Sachs Group increased their target price on shares of Blend Labs from $3.00 to $3.40 and gave the stock a “buy” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.46.

Blend Labs Stock Performance

Shares of BLND opened at $4.75 on Thursday. The stock has a market capitalization of $1.21 billion, a P/E ratio of -13.97 and a beta of 1.16. The company’s fifty day moving average is $3.67 and its two-hundred day moving average is $3.15. Blend Labs has a 1 year low of $1.16 and a 1 year high of $4.75.

Blend Labs (NYSE:BLND) last issued its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate 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. Sell-side analysts predict that Blend Labs will post -0.27 EPS for the current year.

Insiders Place Their Bets

In other Blend Labs news, insider Winnie Ling sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 259,169 shares in the company, valued at $888,949.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 54,303 shares of company stock worth $192,926 in the last 90 days. 13.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blend Labs

Institutional investors and hedge funds have recently made changes to their positions in the business. Dark Forest Capital Management LP purchased a new position in shares of Blend Labs during the 2nd quarter valued at approximately $31,000. Xponance Inc. purchased a new position in shares of Blend Labs during the 2nd quarter valued at approximately $35,000. Caxton Associates LP purchased a new position in shares of Blend Labs during the 1st quarter valued at approximately $60,000. RiverPark Advisors LLC purchased a new position in shares of Blend Labs during the 3rd quarter valued at approximately $77,000. Finally, SG Americas Securities LLC bought a new position in Blend Labs during the first quarter worth $70,000. 52.56% of the stock is currently owned by hedge funds and other 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.