Blend Labs price target lowered to $4 from $5 at Wells Fargo

Wells Fargo lowered the firm’s price target on Blend Labs (BLND) to $4 from $5 and keeps an Overweight rating on the shares. The firm notes Q4 revenue was in line, as better-than-expected mortgage was offset by softness in consumer banking. While a longer than expected journey, Wells sees Blend Labs holding stable and expects growth to ultimately bounce back as mortgage volumes improve.