Blend Labs (BLND)

• Market cap: $805M
• 1 day: -2.21%
• 5 days: -7.19%
• 1 month: -2.82%
• 3 months: -7.74%
• 6 months: -11.93%
• Year to date: -19.27%
• 1 year: 9.54%
• 5 years: -85.17%
• 10 years: -85.17%
• Sector: Technology
• Industry: Software - Application

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: 540

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

218% more first-time investments, than exits

New positions opened: 54 | Existing positions closed: 17

129% more call options, than puts

Call options by funds: $4.77M | Put options by funds: $2.08M

84% more repeat investments, than reductions

Existing positions increased: 70 | Existing positions reduced: 38

24% more capital invested

Capital invested by funds: $540M [Q3] → $671M (+$130M) [Q4]

19% more funds holding

Funds holding: 165 [Q3] → 197 (+32) [Q4]

5.38% more ownership

Funds ownership: 57.8% [Q3] → 63.18% (+5.38%) [Q4]

20% less funds holding in top 10

Funds holding in top 10: 5 [Q3] → 4 (-1) [Q4]

Research analyst outlook

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

• Low target: $3.50 13% upside
• Avg. target: $4.81 55% upside
• High target: $7 126% upside

4 analyst ratings

• positive: 2 50%
• neutral: 2 50%
• negative: 0 0%

Citizens Capital Markets Aaron Kimson 29% 1-year accuracy 6 / 21 met price target	126% upside $7	Market Outperform Reiterated	13 Mar 2025
Keefe, Bruyette & Woods Ryan Tomasello 18% 1-year accuracy 2 / 11 met price target	13% upside $3.50	Market Perform Maintained	3 Mar 2025
Canaccord Genuity Joseph Vafi 15% 1-year accuracy 12 / 79 met price target	69% upside $5.25	Buy Maintained	28 Feb 2025
UBS Karl Keirstead 6% 1-year accuracy 1 / 16 met price target	13% upside $3.50	Neutral Maintained	28 Feb 2025