Shares of Blend Labs, Inc. (NYSE:BLND – Get Rating) have been assigned an average rating of "Hold" from the ten brokerages that are covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $3.62.
A number of equities research analysts have issued reports on BLND shares. The Goldman Sachs Group decreased their price objective on Blend Labs from $5.25 to $3.25 and set a "buy" rating on the stock in a research report on Tuesday, October 18th. Wells Fargo & Company reduced their price target on Blend Labs from $2.50 to $2.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 11th. Piper Sandler reduced their price target on Blend Labs from $3.20 to $2.40 and set a "neutral" rating on the stock in a report on Friday, November 11th. Canaccord Genuity Group reduced their price target on Blend Labs from $4.00 to $3.00 and set a "hold" rating on the stock in a report on Monday, November 14th. Finally, Keefe, Bruyette & Woods upgraded Blend Labs from an "underperform" rating to a "market perform" rating and set a $2.25 price target on the stock in a report on Sunday, November 13th.
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Blend Labs Trading Down 12.5 %
Shares of BLND stock opened at $1.54 on Tuesday. Blend Labs has a 1 year low of $1.00 and a 1 year high of $10.22. The company has a debt-to-equity ratio of 1.23, a current ratio of 10.29 and a quick ratio of 10.29. The stock's 50 day simple moving average is $1.49 and its two-hundred day simple moving average is $2.25. The company has a market cap of $346.61 million, a PE ratio of -0.47 and a beta of 0.34.
Blend Labs (NYSE:BLND – Get Rating) last issued its quarterly earnings data on Thursday, November 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.08). Blend Labs had a negative net
margin of 277.61% and a negative return on equity of 56.67%. The company had revenue of $55.35 million for the quarter, compared to analysts' expectations of $51.24 million. Research analysts predict that Blend Labs will post -1.14 earnings per share for the current year.
Insiders Place Their Bets
In other Blend Labs news, insider Nima Ghamsari sold 766,092 shares of the firm's stock in a transaction on Monday, December 12th. The stock was sold at an average price of $1.26, for a total transaction of $965,275.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Blend Labs news, insider Nima Ghamsari sold 766,092 shares of the firm's stock in a transaction on Monday, December 12th. The stock was sold at an average price of $1.26, for a total transaction of $965,275.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Crystal Sumner sold 45,943 shares of the stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $1.12, for a total value of $51,456.16. Following the sale, the insider now directly owns 455,237 shares in the company, valued at approximately $509,865.44. The disclosure for this sale can be found here. Insiders have sold 1,850,549 shares of company stock worth $2,184,284 in the last ninety days. 15.57% of the stock is owned by company insiders.
Institutional Trading of Blend Labs
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its position in Blend Labs by 418.5% during the 1st quarter. Royal Bank of Canada now owns 6,009 shares of the company's stock valued at $34,000 after acquiring an additional 4,850 shares in the last quarter. Quantbot Technologies LP bought a new stake in Blend Labs during the 1st quarter valued at $63,000. Walleye Capital LLC bought a new stake in Blend Labs during the 2nd quarter valued at $28,000. Hsbc Holdings PLC bought a new stake in Blend Labs during the 3rd quarter valued at $28,000. Finally, Mackenzie Financial Corp bought a new stake in Blend Labs during the 2nd quarter valued at $30,000. Institutional investors own 60.42% of the company's stock.
About Blend Labs
(Get Rating)
Blend Labs, Inc provides cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company offers a suite of white-label products for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts.
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