Research Analysts’ Weekly Ratings Updates for Blend Labs (BLND)

Blend Labs (NYSE: BLND) recently received a number of ratings updates from brokerages and research firms:

• 12/20/2024 – Blend Labs had its “buy” rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $5.75 price target on the stock.
• 12/18/2024 – Blend Labs was upgraded by analysts at Citizens Jmp to a “strong-buy” rating.
• 12/18/2024 – Blend Labs is now covered by analysts at JMP Securities. They set an “outperform” rating and a $7.00 price target on the stock.
• 12/5/2024 – Blend Labs had its price target raised by analysts at Wells Fargo & Company from $4.50 to $6.50. They now have an “overweight” rating on the stock.
• 11/7/2024 – Blend Labs had its price target raised by analysts at Wells Fargo & Company from $3.50 to $4.50. They now have an “overweight” rating on the stock.
• 11/7/2024 – Blend Labs had its price target raised by analysts at Keefe, Bruyette & Woods from $3.25 to $3.85. They now have a “market perform” rating on the stock.
• 11/7/2024 – Blend Labs had its price target raised by analysts at The Goldman Sachs Group, Inc. from $3.40 to $3.90. They now have a “buy” rating on the stock.
• 11/7/2024 – Blend Labs had its price target raised by analysts at Canaccord Genuity Group Inc. from $4.75 to $5.75. They now have a “buy” rating on the stock.

Blend Labs Stock Up 0.2 %

Shares of NYSE BLND traded up $0.01 during mid-day trading on Monday, hitting $4.41. 3,004,674 shares of the company traded hands, compared to its average volume of 2,395,239. The business has a 50 day moving average of $4.44 and a two-hundred day moving average of $3.62. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -12.97 and a beta of 1.33. Blend Labs, Inc. has a 1 year low of $2.08 and a 1 year high of $5.53.

Insider Buying and Selling at Blend Labs

In other news, Director Timothy J. Mayopoulos sold 42,721 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $5.00, for a total value of $213,605.00. Following the transaction, the director now directly owns 387,620 shares of the company’s stock, valued at approximately $1,938,100. This represents a 9.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Winnie Ling sold 10,000 shares of Blend Labs stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $4.06, for a total value of $40,600.00. Following the sale, the insider now directly owns 279,169 shares of the company’s stock, valued at approximately $1,133,426.14. The trade was a 3.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 207,535 shares of company stock valued at $1,033,518 in the last three months. 13.21% of the stock is currently owned by company insiders.

Institutional Trading of Blend Labs

A number of institutional investors have recently added to or reduced their stakes in BLND. Principal Financial Group Inc. boosted its stake in shares of Blend Labs by 697.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock worth $10,249,000 after acquiring an additional 2,390,337 shares in the last quarter. Franklin Resources Inc. bought a new stake in Blend Labs during the third quarter worth approximately $2,463,000. Virtu Financial LLC acquired a new position in Blend Labs during the third quarter valued at approximately $63,000. Barclays PLC grew its holdings in Blend Labs by 263.1% during the third quarter. Barclays PLC now owns 407,774 shares of the company’s stock valued at $1,530,000 after purchasing an additional 295,460 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Blend Labs by 6.3% in the third quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock valued at $17,880,000 after purchasing an additional 283,207 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

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.