Keybanc downgrades Blend Labs on inflationary headwinds
07/07/2022 12:06
** Keybanc downgrades cloud-based financial services
platform Blend Labs Inc BLND.N to "Sector Weight" from
"Overweight" to reflect inflationary headwinds
** Says it retains positive bias on product leadership and
management strategy, however, interest rate headwinds persist
across the mortgage and Latin American ecommerce end markets
** Lowers 2023 total revenue estimate to $215 mln from $219
mln to account for increasingly challenging market conditions
within housing market forecasts
** Up to last close, stock had fallen ~63% YTD
(Reporting by Akash Sriram in Bengaluru)
((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))