Blend Labs (NYSE:BLND – Get Free Report) had its target price lifted by analysts at Wells Fargo & Company from $1.00 to $1.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 0.33% from the stock’s current price.
Blend Labs Stock Up 4.5 %
NYSE:BLND opened at $1.50 on Thursday. The firm’s 50-day moving average price is $1.13 and its 200-day moving average price is $1.18. The company has a market capitalization of $364.56 million, a PE ratio of -1.08 and a beta of 0.57. The company has a debt-to-equity ratio of 3.05, a current ratio of 8.77 and a quick ratio of 8.77. Blend Labs has a 1-year low of $0.53 and a 1-year high of $3.82.
Blend Labs (NYSE:BLND – Get Free Report) last released its earnings results on Tuesday, May 9th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. The firm had revenue of $37.34 million for the quarter, compared to the consensus estimate of $33.76 million. Blend Labs had a negative net margin of 183.40% and a negative return on equity of 196.35%. On average, equities analysts predict that Blend Labs will post -0.77 EPS for the current fiscal year.
Insider Buying and Selling
Hedge Funds Weigh In On Blend Labs
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its stake 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 during the period. JPMorgan Chase & Co. lifted its stake in shares of Blend Labs by 9.7% in the 4th quarter. JPMorgan Chase & Co. now owns 110,861 shares of the company’s stock worth $159,000 after purchasing an additional 9,764 shares during the period. First Republic Investment Management Inc. lifted its stake in shares of Blend Labs by 4.2% in the 1st quarter. First Republic Investment Management Inc. now owns 267,130 shares of the company’s stock worth $1,523,000 after purchasing an additional 10,731 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Blend Labs by 62.4% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 28,663 shares of the company’s stock worth $64,000 after purchasing an additional 11,009 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Blend Labs in the 1st quarter worth approximately $63,000. Institutional investors own 53.08% 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.
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