LendingTree (NASDAQ:TREE) Issues Quarterly Earnings Results

Key Points

• LendingTree reported an earnings per share (EPS) of $1.13 for the quarter, exceeding the consensus estimate of $1.09, alongside a revenue of $250.10 million which was above expectations of $244.03 million.
• The company's stock surged 6.0% to $49.47 following the earnings announcement, with a trading volume significantly higher than its average.
• Analysts have upgraded the stock's outlook, with several firms issuing buy ratings and raising target prices, leading to a consensus target price of $65.13.

LendingTree (NASDAQ:TREE - Get Free Report) posted its earnings results on Thursday. The financial services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.09 by $0.04, Briefing.com reports. LendingTree had a negative net margin of 5.33% and a positive return on equity of 26.79%. The firm had revenue of $250.10 million during the quarter, compared to analysts' expectations of $244.03 million. The firm's quarterly revenue was up 19.0% on a year-over-year basis.

LendingTree Stock Up 6.0%

Shares of LendingTree stock traded up $2.79 during trading on Friday, hitting $49.47. The company's stock had a trading volume of 641,222 shares, compared to its average volume of 335,414. The company has a debt-to-equity ratio of 3.74, a quick ratio of 1.20 and a current ratio of 1.20. The company has a fifty day simple moving average of $38.42 and a two-hundred day simple moving average of $42.46. The company has a market capitalization of $669.33 million, a PE ratio of -12.18 and a beta of 1.58. LendingTree has a 52 week low of $33.50 and a 52 week high of $62.49.

Insider Activity

In related news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $36.24, for a total value of $45,300.00. Following the completion of the transaction, the general counsel directly owned 2,028 shares in the company, valued at $73,494.72. This trade represents a 38.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.10% of the stock is currently owned by insiders.

Institutional Trading of LendingTree

An institutional investor recently raised its position in LendingTree stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of LendingTree, Inc. (NASDAQ:TREE - Free Report) by 5.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,598 shares of the financial services provider's stock after purchasing an additional 1,222 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.17% of LendingTree worth $1,188,000 at the end of the most recent quarter. 68.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on TREE. Wall Street Zen raised shares of LendingTree from a "hold" rating to a "buy" rating in a research report on Saturday. Truist Financial dropped their target price on shares of LendingTree from $72.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Needham & Company LLC raised their target price on shares of LendingTree from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $65.13.

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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