Blend Labs (BLND)

• Market cap: $1.13B
• 1 day: -0.68%
• 5 days: -10.75%
• 1 month: -13.21%
• 3 months: 11.11%
• 6 months: 88.03%
• Year to date: 73.23%
• 1 year: 99.10%
• 5 years: -78.95%
• 10 years: -78.95%
• Sector: Information Technology
• Industry: Computer Programming, Data Processing, Etc.

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 Q3 regulatory filings by fund managers ($100M+ AUM)

635% more call options, than puts

Call options by funds: $3.36M | Put options by funds: $457K

306% more first-time investments, than exits

New positions opened: 65 | Existing positions closed: 16

143% more repeat investments, than reductions

Existing positions increased: 51 | Existing positions reduced: 21

82% more capital invested

Capital invested by funds: $297M [Q2] → $540M (+$243M) [Q3]

42% more funds holding

Funds holding: 116 [Q2] → 165 (+49) [Q3]

5.89% more ownership

Funds ownership: 51.92% [Q2] → 57.81% (+5.89%) [Q3]

0% more funds holding in top 10

Funds holding in top 10: 5 [Q2] → 5 (+0) [Q3]

Research analyst outlook

6 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $3.85 13% downside
• Avg. target: $5.17 17% upside
• High target: $7 59% upside

6 analyst ratings

• positive: 4 67%
• neutral: 2 33%
• negative: 0 0%

Canaccord Genuity Joseph Vafi 70% 1-year accuracy 58 / 83 met price target	31% upside $5.75	Buy Maintained	20 Dec 2024
JMP Securities Aaron Kimson 80% 1-year accuracy 8 / 10 met price target	59% upside $7	Market Outperform Initiated	18 Dec 2024
Wells Fargo Michael Turrin 59% 1-year accuracy 48 / 82 met price target	48% upside $6.50	Overweight Maintained	5 Dec 2024
Goldman Sachs Michael Ng 81% 1-year accuracy 17 / 21 met price target	11% downside $3.90	Buy Maintained	7 Nov 2024
Keefe, Bruyette & Woods Ryan Tomasello 20% 1-year accuracy 2 / 10 met price target	13% downside $3.85	Market Perform Maintained	7 Nov 2024