Blend Labs (NYSE:BLND) Raised to Hold at Zacks Research

Blend Labs (NYSE:BLND) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages also recently weighed in on BLND. Citigroup restated a “market outperform” rating on shares of Blend Labs in a research report on Tuesday, July 21st. Wells Fargo & Company decreased their target price on shares of Blend Labs from $4.00 to $3.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Citizens Jmp reissued a “market outperform” rating and set a $4.00 price target on shares of Blend Labs in a report on Tuesday, July 21st. The Goldman Sachs Group set a $3.00 price target on Blend Labs in a research note on Friday, August 7th. Finally, Keefe, Bruyette & Woods cut their price objective on Blend Labs from $2.25 to $1.90 and set a “market perform” rating for the company in a report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $2.82.

Blend Labs Stock Up 3.1%

Shares of BLND stock opened at $1.50 on Tuesday. The company has a 50 day moving average price of $1.71 and a 200-day moving average price of $1.68. Blend Labs has a 52 week low of $1.18 and a 52 week high of $4.49. The firm has a market capitalization of $353.58 million, a PE ratio of -16.61 and a beta of 1.09.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Hyperion Capital Advisors LP purchased a new stake in shares of Blend Labs in the 2nd quarter worth $51,000. Westmount Partners LLC purchased a new position in Blend Labs during the second quarter valued at $77,000. Caerus Investment Advisors LLC purchased a new position in Blend Labs during the first quarter valued at $41,000. Essential Partners LLC grew its holdings in Blend Labs by 21,768.1% during the first quarter. Essential Partners LLC now owns 15,745 shares of the company’s stock valued at $27,000 after purchasing an additional 15,673 shares during the period. Finally, Bank of America Corp DE grew its holdings in Blend Labs by 6.8% during the first quarter. Bank of America Corp DE now owns 340,757 shares of the company’s stock valued at $579,000 after purchasing an additional 21,713 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

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.