Blend LabsBLND
About: Blend Labs Inc is a cloud-based platform software platform that powers the digital interface between financial services firms and consumers. It supports and simplifies applications for mortgages, consumer loans, and deposit accounts. Its operating segments are; Blend Platform segment which comprises a suite of products that power the entire origination process from back-end workflows to consumer experience, and the Title segment enables customers to streamline the title, settlement, and closing process at scale for mortgages, home equity lines of credit, and home equity loans. The majority of the revenue for the company is generated from the Blend Platform segment.
Employees: 881
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
139% more call options, than puts
Call options by funds: $613K | Put options by funds: $256K
19% more repeat investments, than reductions
Existing positions increased: 32 | Existing positions reduced: 27
0% more funds holding in top 10
Funds holding in top 10: 5 [Q1] → 5 (+0) [Q2]
0.36% less ownership
Funds ownership: 51.82% [Q1] → 51.45% (-0.36%) [Q2]
9% less funds holding
Funds holding: 127 [Q1] → 116 (-11) [Q2]
28% less capital invested
Capital invested by funds: $408M [Q1] → $295M (-$113M) [Q2]
29% less first-time investments, than exits
New positions opened: 27 | Existing positions closed: 38
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
Keefe, Bruyette & Woods Ryan Tomasello 25% 1-year accuracy 1 / 4 met price target | 9%downside $3.25 | Market Perform Maintained | 12 Aug 2024 |
Canaccord Genuity Joseph Vafi 68% 1-year accuracy 55 / 81 met price target | 32%upside $4.75 | Buy Upgraded | 12 Aug 2024 |
Goldman Sachs Michael Ng 90% 1-year accuracy 18 / 20 met price target | 5%downside $3.40 | Buy Maintained | 9 Aug 2024 |