Blend Labs, Inc (BLND) Fair Value & Analysis
Technology · US · Market cap $384M
Blend Labs, Inc
BLND · US
Fair value as of: Jun 23, 2026
From 3 valuation models · updated 48 days ago
Share price −8.4% over the past month.
Below-average quality, and screening another 21% overvalued on our models.
What matters now
- Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
- Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jun 23, 2026.
How to read this chart
60‑month range $0.5500 – $20.90 · fair‑value band $0.9700 – $1.62 · the $1.63 price screens above the $1.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jun 23, 2026.
Analysis
Blend Labs, Inc (BLND) currently trades at $1.63, while our model-based Fair Value estimate is $1.29, implying the stock looks roughly 20.9% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).
Over the trailing twelve months, Blend Labs, Inc generated revenue of $128M at a net margin of -4.2%. Revenue grew 14.9% year over year. It earns a return on equity of 0.3%. Net debt stands at $117M. Fundamentals as of Jun 23, 2026
Our scenario range runs from $0.9700 (bear case) to $1.62 (bull case); at $1.63, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 64% below its 52-week high and 39% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -21%, BLND screens cheaper than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jun 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 43 · Market factors (momentum, volatility) 19
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Blend Labs, Inc. provides a cloud-based software platform for financial services firms in the United States, India, and Mexico.
Full company description
Blend Labs, Inc. provides a cloud-based software platform for financial services firms in the United States, India, and Mexico. The company offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, rapid home lending, personal loans, credit cards, and deposit accounts; and a suite of add-on products that offers to enhance consumers' journeys to homeownership, such as close, income verification for mortgage and home equity lines of credit, and home equity loans. It also provides Blend Builder to configure or build custom workflows from a pre-built set of components; verification components to automate confirmation tasks that are needed to underwrite a loan or approve the opening of a new deposit account; decisioning components to reduce the need for human intervention by automatically applying business rules throughout an application workflow configured by a financial services firm; AI capabilities; and workflow intelligence components to manage data collection and automate tasks throughout the loan origination process. In addition, the company offers application programming interfaces, which integrate the capabilities of technology, data, and service providers into software platform, as well as support services, professional and consulting services. It serves banks, credit unions, fintechs, and other non-bank mortgage lenders. The company was incorporated in 2012 and is headquartered in Novato, California.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Blend Labs, Inc reported revenue of $124M in FY2025 versus $234M in FY2021, a compound −14.8%/yr. Reported net income was −$8.1M in FY2025.
BLND screens 21% overvalued. Compare with SAP SE →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Blend Labs (BLND) Launches Autopilot Agentic AI Solution for Mortgage Pre-Underwriting
- Blend Labs (BLND): One of the Best Stocks with Biggest Upside
- Should You Be Adding British Land (LON:BLND) To Your Watchlist Today?
- Here is What the Street is Saying About Blend Labs (BLND) Following Q1
Peer Group
Software - Application · 709 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Software - Application median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Jun 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAPS | C$12.69 | C$16.26 | +28% |
| Shopify Inc SHOP | C$173.23 | C$20.54 | -88% |
| Uber Technologies, Inc UBER | $72.67 | $51.11 | -30% |
| Salesforce, Inc CRM | $170.77 | $182.10 | +7% |
| ServiceNow, Inc NOW | $107.71 | $33.12 | -69% |
| Cadence Design Systems, Inc CDNS | $384.17 | $80.41 | -79% |
| Snowflake Inc SNOW | $271.87 | $34.04 | -87% |
| Adobe Inc ADBE | $230.61 | $379.48 | +65% |
| Automatic Data Processing, Inc ADP | $241.92 | $177.51 | -27% |
| Intuit Inc INTU | $291.09 | $258.69 | -11% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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