Blend Labs price target lowered to $2.00 from $3.00 at Canaccord

Canaccord analyst Joseph Vafi lowered the firm’s price target on Blend Labs to $2.00 from $3.00 and keeps a Hold rating on the shares. The analyst said while Blend’s core market of mortgage-centric bank solutions just deteriorated even more over the last week, the company continues to gain share in what are cyclical markets, while reducing its cost structure and expanding its TAM.