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

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

A number of other analysts have also commented on BLND. William Blair raised 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. The Goldman Sachs Group boosted their price target on Blend Labs from $3.00 to $3.40 and gave the company a “buy” rating in a report on Friday, August 9th. Canaccord Genuity Group raised their price objective on Blend Labs from $4.75 to $5.75 and gave the stock a “buy” rating in a report on Thursday. Finally, UBS Group increased their target price on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.46.

Blend Labs Stock Performance

NYSE:BLND traded up $0.31 during mid-day trading on Thursday, hitting $4.75. 3,519,378 shares of the company’s stock traded hands, compared to its average volume of 2,282,138. Blend Labs has a 1 year low of $1.16 and a 1 year high of $4.75. The company has a market cap of $1.21 billion, a PE ratio of -9.07 and a beta of 1.16. The firm’s 50 day simple moving average is $3.65 and its 200 day simple moving average is $3.13.

Blend Labs (NYSE:BLND) last posted its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $40.48 million during the quarter, compared to analysts’ expectations of $39.50 million. On average, research analysts expect that Blend Labs will post -0.27 earnings per share for the current fiscal year.

Insider Transactions at Blend Labs

In related news, insider Winnie Ling sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $4.06, for a total transaction of $40,600.00. Following the completion of the sale, the insider now owns 279,169 shares of the company’s stock, valued at approximately $1,133,426.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 54,303 shares of company stock worth $192,926 in the last three months. 13.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blend Labs

A number of large investors have recently modified their holdings of BLND. ClariVest Asset Management LLC boosted its holdings in Blend Labs by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock worth $595,000 after acquiring an additional 6,988 shares during the period. Dark Forest Capital Management LP acquired a new position in shares of Blend Labs during the second quarter worth $31,000. Xponance Inc. purchased a new position in shares of Blend Labs in the second quarter valued at $35,000. EP Wealth Advisors LLC increased its stake in Blend Labs by 8.1% during the 1st quarter. EP Wealth Advisors LLC now owns 196,757 shares of the company’s stock worth $639,000 after buying an additional 14,754 shares during the period. Finally, Caxton Associates LP acquired a new position in Blend Labs in the 1st quarter worth $60,000. Institutional investors and hedge funds 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.