5 Best Software Penny Stocks to Buy Now

4. Blend Labs Inc. (NYSE:BLND)

Blend Labs Inc. (NYSE:BLND) is one of the 8 best software penny stocks to buy now.

On March 11, Wells Fargo decreased the price target on Blend Labs Inc. (NYSE:BLND) from $5 to $4 while maintaining an Overweight rating. This downward revision followed the release of the company’s fourth-quarter earnings report.

The firm noted that the overall revenue was in line with the consensus expectations. Although mortgage performance exceeded projections, it was offset by underlying softness in the consumer banking segment. While the broader recovery timeline seems extended, the firm anticipates that the company will maintain steady operations. It will be able to capture renewed growth as the underlying mortgage volumes eventually improve.

On March 11, Aaron Kimson from Citizens reduced the price target on Blend Labs Inc. (NYSE:BLND) from $7 to $5 while maintaining an Outperform rating on the stock. While the company has produced a robust fourth-quarter performance, its outlook for the first quarter was underwhelming.

While Citizens downgraded expectations, they pointed out that Blend’s banking customers have an interest in staying within the mortgage business.

Blend Labs Inc. (NYSE:BLND) serves financial services companies by selling them cloud-based software solutions. It provides a complete digital platform for lending and consumer finance. Additionally, it also offers to configure or build custom workflows from a pre-built set of components, AI capabilities, application programming interfaces, and more.