Shares of Blend Labs, Inc. (NYSE:BLND – Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $2.25, but opened at $2.56. Blend Labs shares last traded at $2.82, with a volume of 2,484,963 shares traded.
Analysts Set New Price Targets
BLND has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on Blend Labs from $1.85 to $2.65 and gave the company a “market perform” rating in a research report on Monday, March 18th. The Goldman Sachs Group upped their target price on shares of Blend Labs from $1.60 to $3.10 and gave the company a “buy” rating in a research note on Friday, March 15th. Finally, Canaccord Genuity Group increased their price target on shares of Blend Labs from $2.00 to $3.00 and gave the stock a “hold” rating in a research report on Monday, March 18th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.06.
Get Our Latest Stock Analysis on Blend Labs
Blend Labs Stock Up 14.2 %
Blend Labs (NYSE:BLND – Get Free Report) last posted its earnings results on Friday, March 15th. The company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). Blend Labs had a negative net margin of 118.15% and a negative return on equity of 595.99%. The business had revenue of $36.10 million for the quarter, compared to analyst estimates of $37.52 million. On average, sell-side analysts forecast that Blend Labs, Inc. will post -0.47 EPS for the current fiscal year.
Insider Transactions at Blend Labs
In related news, insider Nima Ghamsari sold 100,807 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $2.45, for a total transaction of $246,977.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 11.83% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPL Wealth Management LLC bought a new position in shares of Blend Labs in the fourth quarter worth about $26,000. AMG National Trust Bank bought a new position in Blend Labs in the 4th quarter worth approximately $37,000. Cannon Global Investment Management LLC acquired a new position in Blend Labs during the 1st quarter worth $65,000. Berylson Capital Partners LLC bought a new position in Blend Labs in the 4th quarter valued at $52,000. Finally, Victory Capital Management Inc. boosted its position in Blend Labs by 24.2% in the 4th quarter. Victory Capital Management Inc. now owns 23,812 shares of the company’s stock valued at $61,000 after buying an additional 4,633 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.
Blend Labs Company Profile
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.
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