Blend Labs Inc (NYSE:BLND) Receives $23.22 Consensus PT from Brokerages

Shares of Blend Labs Inc (NYSE:BLND) have been assigned a consensus recommendation of “Buy” from the eleven analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $23.22.

Several research firms recently commented on BLND. Zacks Investment Research upgraded shares of Blend Labs from a “sell” rating to a “hold” rating in a research report on Tuesday, October 19th. Canaccord Genuity assumed coverage on shares of Blend Labs in a research report on Tuesday, August 10th. They issued a “buy” rating and a $28.00 price target on the stock. William Blair assumed coverage on shares of Blend Labs in a research report on Tuesday, August 10th. They issued an “outperform” rating on the stock. Truist started coverage on shares of Blend Labs in a research report on Tuesday, August 10th. They issued a “buy” rating and a $24.00 price target on the stock. Finally, UBS Group began coverage on shares of Blend Labs in a research report on Tuesday, August 10th. They set a “neutral” rating and a $20.00 target price on the stock.

In related news, insider Crystal Sumner sold 3,557 shares of the firm’s stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $10.50, for a total value of $37,348.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. General Atlantic L.P. bought a new position in shares of Blend Labs during the 3rd quarter worth approximately $154,130,000. Caas Capital Management LP bought a new position in shares of Blend Labs during the 3rd quarter worth approximately $559,000. Temasek Holdings Private Ltd bought a new position in shares of Blend Labs during the 3rd quarter worth approximately $160,085,000. Lee Capital Holdings LLC bought a new position in shares of Blend Labs during the 3rd quarter worth approximately $674,000. Finally, Ghisallo Capital Management LLC bought a new position in shares of Blend Labs during the 3rd quarter worth approximately $539,000. 18.51% of the stock is currently owned by institutional investors and hedge funds.

NYSE:BLND traded up $0.45 during mid-day trading on Thursday, hitting $11.05. 477,536 shares of the company’s stock were exchanged, compared to its average volume of 737,246. The stock’s 50 day moving average is $14.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 10.40 and a quick ratio of 10.40. Blend Labs has a fifty-two week low of $10.31 and a fifty-two week high of $21.04.

Blend Labs (NYSE:BLND) last posted its earnings results on Wednesday, November 10th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $89.57 million for the quarter, compared to analyst estimates of $85.43 million. Equities research analysts expect that Blend Labs will post -0.97 EPS for the current year.

Blend Labs Company Profile

Blend Labs Inc designs and develops software. The Company offers a platform which focuses on mortgage lending, as well as provides an application experience for home buying process for both buyers and lenders. Blend Labs Inc is based in San Francisco, United States.

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Analyst Recommendations for Blend Labs (NYSE:BLND)

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