Blend Labs (NYSE:BLND) Rating Lowered to Strong Sell at Zacks Research

Blend Labs (NYSE:BLND) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods dropped their target price on shares of Blend Labs from $2.25 to $1.90 and set a “market perform” rating on the stock in a research report on Friday, May 8th. Weiss Ratings lowered Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Citigroup reaffirmed an “outperform” rating on shares of Blend Labs in a research report on Friday, May 8th. Citizens Jmp dropped their price target on Blend Labs from $5.00 to $4.00 and set a “market outperform” rating on the stock in a report on Friday, May 8th. Finally, Canaccord Genuity Group cut their price objective on Blend Labs from $5.25 to $4.50 and set a “buy” rating on the stock in a research report on Friday, May 15th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Blend Labs currently has an average rating of “Hold” and a consensus target price of $3.32.

Blend Labs Stock Performance

Blend Labs stock opened at $1.78 on Monday. Blend Labs has a fifty-two week low of $1.18 and a fifty-two week high of $4.49. The firm’s 50-day simple moving average is $1.64 and its 200 day simple moving average is $1.92. The stock has a market cap of $432.18 million, a PE ratio of -17.85 and a beta of 1.10.

Institutional Investors Weigh In On Blend Labs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capricorn Fund Managers Ltd bought a new stake in shares of Blend Labs in the first quarter valued at approximately $11,049,000. Irenic Capital Management LP purchased a new position in Blend Labs in the 4th quarter valued at approximately $9,469,000. Park West Asset Management LLC purchased a new position in Blend Labs in the 3rd quarter valued at approximately $6,205,000. Potrero Capital Research LLC purchased a new position in Blend Labs in the 4th quarter valued at approximately $5,050,000. Finally, Marshall Wace LLP raised its holdings in Blend Labs by 157.6% during the 2nd quarter. Marshall Wace LLP now owns 2,522,141 shares of the company’s stock valued at $8,323,000 after acquiring an additional 1,543,220 shares during the period. 52.56% of the stock is currently owned by institutional investors.

About Blend Labs

Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend’s platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.

The company’s product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.