Read How Analysts Reacted To Blend Labs' Q4 Results - Blend Labs (NYSE:BLND)

Analysts mainly slashed the price targets or downgraded the rating on Blend Labs Inc BLND post Q4 results.
KeyBanc analyst Josh Beck lowered the price target to $6 from $10 (26% upside) and kept an Overweight.
The company's FY22 revenue forecast was well below the Street's $343.8 million, reflecting the negative impact of higher rates on the mortgage market.
Canaccord analyst Joseph Vafi downgraded Blend Labs to Hold from Buy with a price target of $5, down from $28 (5% upside).
Vafi noted that share gains in 2022 likely cannot entirely offset estimated overall mortgage volume declines given the macro environment.
Truist analyst Terry Tillman lowered the price target to $5.50 from $7.50 (16% upside) and kept a Hold.
Tillman specified that the company's Q1 and FY22 outlook was well below Street view.
The analyst remains cautious about the potential for further negative estimate revisions and the lack of clarity around cost savings initiatives.
Piper Sandler analyst Arvind Ramnani downgraded Blend Labs from Overweight to Neutral and lowered the price target from $10 to $5.5 (16% upside).
Wells Fargo analyst Michael Turrin downgraded Blend Labs from Overweight to Equal-Weight with a $5 price target (5% upside).
Price Action: BLND shares traded lower by 16.58% at $4.76 on the last check Friday.