Keefe Bruyette lifts Blend Labs Inc. [BLND] price estimate. Who else is bullish?

Blend Labs Inc. [NYSE: BLND] slipped around -0.14 points on Tuesday, while shares priced at $1.05 at the close of the session, down -11.76%. The company report on November 10, 2022 that Blend Announces Third Quarter 2022 Financial Results.

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Total revenue of $55.4 million led by Platform revenue resilience, offset by lower Title365 revenue.

Blend Labs, Inc. (NYSE:BLND), a leader in cloud banking software, today announced its third quarter 2022 financial results.

Blend Labs Inc. stock is now -85.69% down from its year-to-date (YTD) trading value. BLND Stock saw the intraday high of $1.17 and lowest of $1.00 per share. The company’s 52-week high price is 10.22, which means current price is +5.00% above from all time high which was touched on 02/10/22.

Compared to the average trading volume of 1.74M shares, BLND reached a trading volume of 8771663 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $2.77 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 2.90. 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.

Keefe Bruyette have made an estimate for Blend Labs Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on November 14, 2022. While these analysts kept the previous recommendation, Keefe Bruyette dropped their target price from $4 to $2.75. The new note on the price target was released on July 25, 2022, representing the official price target for Blend Labs Inc. stock.

The Average True Range (ATR) for Blend Labs Inc. is set at 0.18, with the Price to Sales ratio for BLND stock in the period of the last 12 months amounting to 0.91. The Price to Book ratio for the last quarter was 1.40, with the Price to Cash per share for the same quarter was set at 1.69.

How has BLND stock performed recently?

Blend Labs Inc. [BLND] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.67. With this latest performance, BLND shares dropped by -48.78% in over the last four-week period, additionally sinking by -69.65% over the last 6 months – not to mention a drop of -88.77% in the past year of trading.

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 23.81, with the RSI for the last a single of trading hit 17.07, and the three-weeks RSI is set at 28.70 for Blend Labs Inc. [BLND]. The present Moving Average for the last 50 days of trading for this stock 2.0160, while it was recorded at 1.2320 for the last single week of trading, and 3.5570 for the last 200 days.

Blend Labs Inc. [BLND]: Deeper insight into the fundamentals

Blend Labs Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.30 and a Current Ratio set at 10.30.

Insider trade positions for Blend Labs Inc. [BLND]

There are presently around $143 million, or 68.50% of BLND stock, in the hands of institutional investors. The top three institutional holders of BLND stocks are: VANGUARD GROUP INC with ownership of 18,304,227, which is approximately 35.704% of the company’s market cap and around 0.60% of the total institutional ownership; LIGHTSPEED ULTIMATE GENERAL PARTNER IX, LTD., holding 14,818,355 shares of the stock with an approximate value of $15.56 million in BLND stocks shares; and TEMASEK HOLDINGS (PRIVATE) LTD, currently with $12.47 million in BLND stock with ownership of nearly 0% of the company’s market capitalization.

57 institutional holders increased their position in Blend Labs Inc. [NYSE:BLND] by around 15,795,111 shares. Additionally, 41 investors decreased positions by around 11,473,463 shares, while 39 investors held positions by with 109,257,953 shares. The mentioned changes placed institutional holdings at 136,526,527 shares, according to the latest SEC report filing. BLND stock had 25 new institutional investments in for a total of 3,069,297 shares, while 16 institutional investors sold positions of 2,848,364 shares during the same period.

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