Blend Labs (NYSE:BLND) Price Target Lowered to $4.50 at Canaccord Genuity Group

Blend Labs (NYSE:BLND) had its price objective decreased by Canaccord Genuity Group from $5.25 to $4.50 in a report issued on Friday, MarketBeat Ratings reports. Canaccord Genuity Group currently has a buy rating on the stock.

BLND has been the subject of several other reports. Citigroup restated an “outperform” rating on shares of Blend Labs in a report on Friday, May 8th. UBS Group decreased their price target on shares of Blend Labs from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Wednesday, March 11th. Wells Fargo & Company decreased their price target on shares of Blend Labs from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Wednesday, March 11th. Keefe, Bruyette & Woods decreased their price target on shares of Blend Labs from $2.25 to $1.90 and set a “market perform” rating for the company in a report on Friday, May 8th. Finally, Citizens Jmp decreased their price target on shares of Blend Labs from $5.00 to $4.00 and set a “market outperform” rating for the company in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $3.32.

Blend Labs Stock Performance

BLND stock opened at $1.45 on Friday. The stock has a market cap of $349.86 million, a P/E ratio of -14.45 and a beta of 1.03. The firm has a 50 day simple moving average of $1.59 and a 200 day simple moving average of $2.35. Blend Labs has a 52 week low of $1.18 and a 52 week high of $4.49.

Institutional Trading of Blend Labs

A number of institutional investors and hedge funds have recently modified their holdings of BLND. Revolve Wealth Partners LLC acquired a new stake in shares of Blend Labs in the fourth quarter worth $132,000. AQR Capital Management LLC lifted its stake in shares of Blend Labs by 32.2% in the first quarter. AQR Capital Management LLC now owns 883,296 shares of the company’s stock worth $2,959,000 after buying an additional 214,998 shares during the last quarter. Creative Planning lifted its stake in shares of Blend Labs by 81.4% in the second quarter. Creative Planning now owns 34,036 shares of the company’s stock worth $112,000 after buying an additional 15,276 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Blend Labs by 18.4% in the second quarter. Legal & General Group Plc now owns 241,030 shares of the company’s stock worth $795,000 after buying an additional 37,373 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in shares of Blend Labs by 587.0% in the second quarter. Prudential Financial Inc. now owns 123,220 shares of the company’s stock worth $407,000 after buying an additional 105,285 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

About Blend Labs

Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend’s platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.

The company’s product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.