The Goldman Sachs Group Boosts Blend Labs (NYSE:BLND) Price Target to $3.90

Blend Labs (NYSE:BLND) had its price objective boosted by stock analysts at The Goldman Sachs Group from $3.40 to $3.90 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential downside of 17.89% from the stock’s current price.

BLND has been the subject of several other reports. Keefe, Bruyette & Woods lifted their target price on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research note on Thursday. Canaccord Genuity Group boosted their price target on Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a research note on Thursday. Canaccord Genuity Group upgraded Blend Labs from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.00 to $4.75 in a research note on Monday, August 12th. UBS Group boosted their price target on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, William Blair upgraded Blend Labs from a “market perform” rating to an “outperform” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $4.46.

Blend Labs Stock Up 7.0 %

BLND opened at $4.75 on Thursday. Blend Labs has a 12-month low of $1.16 and a 12-month high of $4.75. The business has a 50 day moving average of $3.67 and a 200-day moving average of $3.15. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -9.69 and a beta of 1.16.

Blend Labs (NYSE:BLND) last issued its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $40.48 million for the quarter, compared to the consensus estimate of $39.50 million. As a group, analysts expect that Blend Labs will post -0.27 earnings per share for the current year.

Insider Buying and Selling at Blend Labs

In other Blend Labs news, insider Winnie Ling sold 10,000 shares of Blend Labs stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $4.06, for a total value of $40,600.00. Following the completion of the transaction, the insider now directly owns 279,169 shares of the company’s stock, valued at $1,133,426.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 54,303 shares of company stock valued at $192,926 in the last three months. Corporate insiders own 13.21% of the company’s stock.

Hedge Funds Weigh In On Blend Labs

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Blend Labs during the 3rd quarter worth $660,000. Fullcircle Wealth LLC acquired a new position in shares of Blend Labs during the 3rd quarter worth $508,000. Principal Financial Group Inc. acquired a new position in shares of Blend Labs during the 2nd quarter worth $809,000. ShawSpring Partners LLC raised its holdings in shares of Blend Labs by 58.7% during the 2nd quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock worth $15,850,000 after buying an additional 2,485,283 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Blend Labs during the 1st quarter worth $94,000. 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.