Blend Labs (NYSE:BLND – Free Report) had its price target increased by UBS Group from $3.00 to $4.00 in a report released on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.
A number of other brokerages also recently weighed in on BLND. 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 research note on Monday, August 12th. Keefe, Bruyette & Woods lifted 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. The Goldman Sachs Group increased their target price on Blend Labs from $3.00 to $3.40 and gave the company a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity Group raised Blend Labs from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.00 to $4.75 in a research note on Monday, August 12th. Finally, William Blair upgraded Blend Labs from a “market perform” rating to an “outperform” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3.94.
Blend Labs Price Performance
Blend Labs (NYSE:BLND – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The business had revenue of $40.48 million during the quarter, compared to analysts’ expectations of $39.50 million. Equities research analysts expect that Blend Labs will post -0.27 EPS for the current fiscal year.
Insider Activity
In related news, insider Winnie Ling sold 20,000 shares of the firm’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 transaction of $68,600.00. Following the transaction, the insider now directly owns 259,169 shares in the company, valued at $888,949.67. This trade 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. In the last quarter, insiders sold 54,303 shares of company stock valued at $192,926. Insiders own 11.83% of the company’s stock.
Institutional Investors Weigh In On Blend Labs
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new position in shares of Blend Labs in the second quarter valued at about $31,000. Xponance Inc. purchased a new position in Blend Labs during the 2nd quarter valued at about $35,000. Caxton Associates LP bought a new position in Blend Labs during the 1st quarter valued at approximately $60,000. Cannon Global Investment Management LLC purchased a new stake in Blend Labs in the 1st quarter worth approximately $65,000. Finally, SG Americas Securities LLC purchased a new stake in Blend Labs in the 1st quarter worth approximately $70,000. 52.56% of the stock is currently owned by institutional investors.
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.
Read More
- Five stocks we like better than Blend Labs
- What is Put Option Volume?
- Chinese Stocks Cool Off: Time to Buy the Dip in These 2 Stocks?
- What is the Shanghai Stock Exchange Composite Index?
- Goldman Sachs Highlights 3 Top Short Squeeze Stocks to Watch
- Trading Halts Explained
- Walmart is Up 56% YTD, Is it Still a Top Consumer Staples Stock?
Receive News & Ratings for Blend Labs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blend Labs and related companies with MarketBeat.com's FREE daily email newsletter.