Blend Labs initiated with an Outperform at JMP Securities

JMP Securities initiated coverage of Blend Labs (BLND) with an Outperform rating and $7 price target The company is on a mission to transform consumer lending with its software platform designed to enhance the consumer experience on the front-end and drive operational efficiency for financial institutions on the back-end, the analyst tells investors in a research note. The firm believes Blend Labs is poised to benefit from interest rate cuts and an eventual bounce-back in demand for mortgage originations, refinances, and home equity lines of credit.