LendingTree (NASDAQ:TREE) Downgraded by Wall Street Zen to "Buy"

Key Points

• Wall Street Zen lowered LendingTree from a “strong-buy” to a “buy,” adding to a mixed batch of analyst opinions that still leaves the stock with a Moderate Buy consensus and a $66.20 average price target.
• LendingTree’s latest quarterly results missed earnings and revenue estimates, with EPS of $1.38 versus $1.49 expected and revenue of $319.07 million versus $321.32 million forecast.
• The stock opened at $46.25, well below its 52-week high of $77.35, while institutional ownership remains high at 68.26%.

LendingTree (NASDAQ:TREE - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Monday.

TREE has been the topic of a number of other research reports. Truist Financial set a $78.00 price target on shares of LendingTree in a report on Friday, May 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $60.00 price objective on shares of LendingTree in a research note on Friday, May 1st. JPMorgan Chase & Co. assumed coverage on shares of LendingTree in a research note on Tuesday, April 14th. They set an "overweight" rating and a $50.00 target price on the stock. Weiss Ratings restated a "hold (c)" rating on shares of LendingTree in a report on Wednesday, June 24th. Finally, Zacks Research cut LendingTree from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 30th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.20.

LendingTree Price Performance

NASDAQ:TREE opened at $46.25 on Monday. The business's 50-day moving average price is $39.57 and its 200 day moving average price is $44.52. The firm has a market cap of $645.19 million, a P/E ratio of 3.59 and a beta of 2.00. LendingTree has a 52-week low of $32.65 and a 52-week high of $77.35. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 1.27.

LendingTree (NASDAQ:TREE - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.38 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.11). The business had revenue of $319.07 million during the quarter, compared to analyst estimates of $321.32 million. LendingTree had a net margin of 15.02% and a return on equity of 17.01%. LendingTree's revenue was up 36.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 earnings per share. As a group, sell-side analysts predict that LendingTree will post 3.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LendingTree

Institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in LendingTree by 5.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,598 shares of the financial services provider's stock valued at $1,188,000 after acquiring an additional 1,222 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of LendingTree by 43.6% in the 2nd quarter. Cetera Investment Advisers now owns 16,039 shares of the financial services provider's stock valued at $595,000 after purchasing an additional 4,871 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of LendingTree by 12.7% in the 2nd quarter. Legal & General Group Plc now owns 10,840 shares of the financial services provider's stock valued at $402,000 after purchasing an additional 1,223 shares during the last quarter. Rhumbline Advisers boosted its holdings in LendingTree by 12.6% in the second quarter. Rhumbline Advisers now owns 16,754 shares of the financial services provider's stock worth $621,000 after purchasing an additional 1,875 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in LendingTree by 9.3% in the second quarter. American Century Companies Inc. now owns 26,010 shares of the financial services provider's stock worth $964,000 after purchasing an additional 2,217 shares in the last quarter. 68.26% of the stock is currently owned by institutional investors and hedge funds.

About LendingTree

LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.

Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.

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