Fintel reports that on September 27, 2023, Canaccord Genuity reiterated coverage of Blend Labs Inc - (NYSE:BLND) with a Hold recommendation.
Analyst Price Forecast Suggests 25.60% Upside
As of August 31, 2023, the average one-year price target for Blend Labs Inc - is 1.52. The forecasts range from a low of 1.01 to a high of $2.10. The average price target represents an increase of 25.60% from its latest reported closing price of 1.21.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Blend Labs Inc - is 219MM, an increase of 22.63%. The projected annual non-GAAP EPS is -0.46.
What is the Fund Sentiment?
There are 154 funds or institutions reporting positions in Blend Labs Inc -. This is a decrease of 69 owner(s) or 30.94% in the last quarter. Average portfolio weight of all funds dedicated to BLND is 0.08%, a decrease of 48.02%. Total shares owned by institutions decreased in the last three months by 11.83% to 115,111K shares. 
The put/call ratio of BLND is 0.13, indicating a bullish outlook.
What are Other Shareholders Doing?
General Atlantic holds 19,132K shares representing 7.78% ownership of the company. No change in the last quarter.
Lightspeed Ultimate General Partner IX holds 14,818K shares representing 6.03% ownership of the company. No change in the last quarter.
EdgePoint Investment Group holds 12,208K shares representing 4.96% ownership of the company. In it's prior filing, the firm reported owning 7,607K shares, representing an increase of 37.69%. The firm increased its portfolio allocation in BLND by 36.60% over the last quarter.
Temasek Holdings holds 11,876K shares representing 4.83% ownership of the company. No change in the last quarter.
ShawSpring Partners holds 11,241K shares representing 4.57% ownership of the company. In it's prior filing, the firm reported owning 10,386K shares, representing an increase of 7.61%. The firm increased its portfolio allocation in BLND by 6.41% over the last quarter.
Blend Labs Background Information
(This description is provided by the company.)
Blend’s cloud-based software platform is designed to power the end-to-end consumer journey for any banking product from application to close. Its technology is used by Wells Fargo, U.S. Bank, and over 290 other financial services firms to acquire more customers, increase productivity, and deepen relationships. Through its software, Blend enables its customers to process an average of more than $5 billion in loans per day, helping consumers get into homes and gain access to the capital they need to lead better lives.
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This story originally appeared on Fintel.
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