LendingTree (NASDAQ:TREE) Given New $60.00 Price Target at Truist Financial

LendingTree (NASDAQ:TREE - Get Free Report) had its price objective cut by research analysts at Truist Financial from $72.00 to $60.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Truist Financial's price target suggests a potential upside of 47.93% from the stock's current price.

Several other research firms also recently weighed in on TREE. JPMorgan Chase & Co. boosted their price target on LendingTree from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Keefe, Bruyette & Woods decreased their price objective on shares of LendingTree from $73.00 to $66.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Northland Securities upgraded shares of LendingTree from a "market perform" rating to an "outperform" rating and set a $60.00 target price for the company in a research report on Tuesday, January 21st. Stephens reaffirmed an "overweight" rating and set a $69.00 price target on shares of LendingTree in a research report on Thursday, March 6th. Finally, StockNews.com cut LendingTree from a "strong-buy" rating to a "buy" rating in a report on Saturday. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, LendingTree has an average rating of "Buy" and a consensus target price of $64.13.

LendingTree Stock Down 6.2 %

LendingTree stock traded down $2.66 during midday trading on Monday, reaching $40.56. The company's stock had a trading volume of 492,135 shares, compared to its average volume of 250,742. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $548.98 million, a P/E ratio of -15.07 and a beta of 1.76. The stock's 50-day simple moving average is $46.90 and its 200-day simple moving average is $45.10. LendingTree has a 52-week low of $34.55 and a 52-week high of $62.49.

LendingTree (NASDAQ:TREE - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.25. LendingTree had a negative net margin of 4.72% and a positive return on equity of 0.51%. The company had revenue of $239.70 million during the quarter, compared to analysts' expectations of $244.93 million. LendingTree's revenue for the quarter was up 42.8% compared to the same quarter last year. On average, sell-side analysts expect that LendingTree will post 0.48 EPS for the current year.

Insider Activity

In related news, COO Scott Peyree bought 21,045 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $41.69 per share, for a total transaction of $877,366.05. Following the completion of the transaction, the chief operating officer now directly owns 76,760 shares in the company, valued at $3,200,124.40. This trade represents a 37.77 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 23.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. New Age Alpha Advisors LLC purchased a new position in shares of LendingTree in the fourth quarter valued at approximately $36,000. Tower Research Capital LLC TRC raised its stake in LendingTree by 248.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,190 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 848 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in LendingTree during the 4th quarter worth $54,000. CANADA LIFE ASSURANCE Co acquired a new stake in LendingTree during the 4th quarter worth $56,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of LendingTree during the fourth quarter worth $70,000. 68.26% of the stock is owned by hedge funds and other institutional investors.

LendingTree Company Profile

LendingTree, Inc, through its subsidiary, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, and home equity loans and lines of credit; and real estate brokerage services.

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