Stock Track | Blend Labs Plunges 8.55% in Pre-Market After Price Target Cut by UBS

Stock Track

02-28

Blend Labs, Inc.0.78%

Blend Labs, Inc. (BLND) stock experienced a pre-market plunge of 8.55% on Friday morning. This sell-off came after UBS adjusted its price target for the company from $4 to $3.50, while maintaining a Neutral rating on the stock.

According to analysts polled by FactSet, Blend Labs currently has an average rating of "Overweight" and a mean price target of $5.37. However, UBS's downward revision of the price target appears to have contributed to the significant pre-market decline witnessed in the stock's trading activity.

Despite maintaining a Neutral stance, the reduction in UBS's price target could signal potential concerns or challenges faced by Blend Labs. Investors may be reacting cautiously to this development, leading to the substantial pre-market sell-off.

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