LendingTree (NASDAQ:TREE) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded LendingTree from “Buy” to “Hold.” Despite the downgrade, analysts overall maintain a “Moderate Buy” consensus, with an average price target of $61.33.
• LendingTree shares opened at $26.81, near their 52-week low of $23.50 and well below the 52-week high of $68.93. The stock has a market capitalization of approximately $376 million.
• The company’s latest quarterly earnings missed expectations, reporting $0.68 in adjusted earnings per share versus the $1.41 consensus estimate, while revenue rose 25.3% year over year to $313.42 million.

LendingTree (NASDAQ:TREE - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently issued reports on TREE. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LendingTree in a report on Monday, September 21st. Needham & Company LLC dropped their target price on LendingTree from $60.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Keefe, Bruyette & Woods lowered their price objective on LendingTree from $70.00 to $58.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Truist Financial lowered their target price on shares of LendingTree from $78.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Finally, Northland Securities set a $60.00 price objective on LendingTree in a research note on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $61.33.

LendingTree Trading Down 2.7%

Shares of NASDAQ TREE opened at $26.81 on Friday. LendingTree has a fifty-two week low of $23.50 and a fifty-two week high of $68.93. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market capitalization of $376.41 million, a P/E ratio of 10.17 and a beta of 2.04. The company's 50 day simple moving average is $26.85 and its 200 day simple moving average is $35.46.

LendingTree (NASDAQ:TREE - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.73). LendingTree had a return on equity of 14.57% and a net margin of 14.33%. The firm had revenue of $313.42 million for the quarter, compared to analyst estimates of $315.56 million. During the same quarter in the prior year, the firm earned $1.13 earnings per share. The firm's revenue for the quarter was up 25.3% on a year-over-year basis. On average, analysts predict that LendingTree will post 3.49 EPS for the current year.

Hedge Funds Weigh In On LendingTree

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of LendingTree in the second quarter worth approximately $54,329,000. Punch & Associates Investment Management Inc. acquired a new stake in LendingTree during the second quarter valued at approximately $32,140,000. Jennison Associates LLC raised its position in shares of LendingTree by 74.0% during the 1st quarter. Jennison Associates LLC now owns 1,020,211 shares of the financial services provider's stock worth $43,747,000 after purchasing an additional 434,038 shares during the period. S Squared Technology LLC bought a new position in shares of LendingTree in the second quarter worth $4,795,190. Finally, Arrowstreet Capital Limited Partnership grew its holdings in LendingTree by 33.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 274,366 shares of the financial services provider's stock worth $11,765,000 after acquiring an additional 68,466 shares during the period. 68.26% of the stock is owned by institutional investors and hedge funds.

About LendingTree

LendingTree, Inc operates an online marketplace that helps consumers compare financial products and services from a network of lenders, insurers and other providers. Its platform is designed to connect shoppers with potential offers based on their financial needs and preferences.

The company's marketplace includes products such as mortgages and other home loans, personal loans, business loans, auto loans, credit cards, insurance and deposit accounts. LendingTree also provides educational content, comparison tools and financial guidance intended to help consumers evaluate borrowing, insurance and saving options.

Founded in 1996 by Doug Lebda, LendingTree is headquartered in Charlotte, North Carolina, and primarily serves consumers in the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.