Compass Point lifts Blend Labs Inc. [BLND] price estimate. Who else is bullish?


Blend Labs Inc. [NYSE: BLND] stock went on a downward path that fall over 0.00% on Thursday, amounting to a one-week price decrease of less than -8.22%. The company report on May 12, 2022 that Blend Announces First Quarter 2022 Financial Results.

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Consolidated revenue of $71.5 million includes solid Blend Platform growth in declining U.S. mortgage market.

The one-year Blend Labs Inc. stock forecast points to a potential upside of 22.67. The average equity rating for BLND stock is currently 2.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $789.43 million, with 230.33 million shares outstanding and 204.76 million shares in the current float. Compared to the average trading volume of 2.62M shares, BLND stock reached a trading volume of 3655397 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Blend Labs Inc. [BLND]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BLND shares is $4.19 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BLND stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Compass Point have made an estimate for Blend Labs Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 25, 2022. The new note on the price target was released on April 04, 2022, representing the official price target for Blend Labs Inc. stock. Previously, the target price had yet another drop from $11 to $5, while Wells Fargo kept a Equal Weight rating on BLND stock. On April 01, 2022, analysts decreased their price target for BLND shares from 10 to 5.50.

The Average True Range (ATR) for Blend Labs Inc. is set at 0.38, with the Price to Sales ratio for BLND stock in the period of the last 12 months amounting to 2.88. The Price to Book ratio for the last quarter was 1.03, with the Price to Cash per share for the same quarter was set at 2.05.

BLND Stock Performance Analysis:

Blend Labs Inc. [BLND] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.22. With this latest performance, BLND shares dropped by -29.10% in over the last four-week period, additionally sinking by -70.68% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BLND stock in for the last two-week period is set at 35.78, with the RSI for the last a single of trading hit 36.80, and the three-weeks RSI is set at 35.37 for Blend Labs Inc. [BLND]. The present Moving Average for the last 50 days of trading for this stock 4.64, while it was recorded at 3.29 for the last single week of trading, and 9.79 for the last 200 days.

Insight into Blend Labs Inc. Fundamentals:

Blend Labs Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.40 and a Current Ratio set at 10.40.

Blend Labs Inc. [BLND] Insider Position Details

There are presently around $475 million, or 67.00% of BLND stock, in the hands of institutional investors. The top three institutional holders of BLND stocks are: TIGER GLOBAL MANAGEMENT LLC with ownership of 19,784,234, which is approximately -0.586% of the company’s market cap and around 0.90% of the total institutional ownership; FORMATION8 GP, LLC, holding 16,220,511 shares of the stock with an approximate value of $52.55 million in BLND stocks shares; and LIGHTSPEED ULTIMATE GENERAL PARTNER IX, LTD., currently with $48.01 million in BLND stock with ownership of nearly 0% of the company’s market capitalization.

65 institutional holders increased their position in Blend Labs Inc. [NYSE:BLND] by around 50,255,167 shares. Additionally, 41 investors decreased positions by around 19,475,167 shares, while 21 investors held positions by with 77,011,998 shares. The mentioned changes placed institutional holdings at 146,742,332 shares, according to the latest SEC report filing. BLND stock had 37 new institutional investments in for a total of 32,186,880 shares, while 27 institutional investors sold positions of 14,697,948 shares during the same period.