LendingTree (NASDAQ:TREE) Price Target Raised to $70.00 at Needham & Company LLC

Key Points

• LendingTree's price target was increased from $62.00 to $70.00 by Needham & Company LLC, signaling a potential upside of 43.76% from its current price.
• The company's recent earnings report showed an EPS of $1.13, surpassing the consensus estimate of $1.09, with quarterly revenue up 19.0% year-over-year.
• Currently, LendingTree has a consensus rating of "Moderate Buy" with a price target of $65.13, amid a mix of analyst ratings including hold and buy.

LendingTree (NASDAQ:TREE - Get Free Report) had its price target increased by equities research analysts at Needham & Company LLC from $62.00 to $70.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. Needham & Company LLC's price objective indicates a potential upside of 43.76% from the stock's current price.

TREE has been the topic of a number of other reports. Wall Street Zen downgraded LendingTree from a "buy" rating to a "hold" rating in a report on Sunday, May 11th. Truist Financial cut their price objective on LendingTree from $72.00 to $60.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, LendingTree presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.13.

LendingTree Price Performance

Shares of NASDAQ:TREE traded up $2.01 on Friday, hitting $48.69. The company had a trading volume of 351,610 shares, compared to its average volume of 314,232. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 3.74. LendingTree has a 52-week low of $33.50 and a 52-week high of $62.49. The business has a 50 day moving average of $38.14 and a 200 day moving average of $42.37. The company has a market cap of $658.82 million, a PE ratio of -11.90 and a beta of 1.61.

LendingTree (NASDAQ:TREE - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.04. LendingTree had a positive return on equity of 14.76% and a negative net margin of 5.67%. The business had revenue of $250.10 million for the quarter, compared to the consensus estimate of $244.03 million. LendingTree's quarterly revenue was up 19.0% compared to the same quarter last year. As a group, equities analysts anticipate that LendingTree will post 0.48 earnings per share for the current fiscal year.

Insider Activity

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of LendingTree stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $36.24, for a total transaction of $45,300.00. Following the sale, the general counsel owned 2,028 shares of the company's stock, valued at $73,494.72. The trade was a 38.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 23.10% of the company's stock.

Institutional Trading of LendingTree

Several hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC increased its position in shares of LendingTree by 11.4% during the 2nd quarter. AlphaQuest LLC now owns 2,212 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 227 shares during the period. Nuveen Asset Management LLC increased its position in shares of LendingTree by 0.9% during the 4th quarter. Nuveen Asset Management LLC now owns 75,564 shares of the financial services provider's stock valued at $2,928,000 after purchasing an additional 689 shares during the period. Rhumbline Advisers increased its position in shares of LendingTree by 4.9% during the 1st quarter. Rhumbline Advisers now owns 14,879 shares of the financial services provider's stock valued at $748,000 after purchasing an additional 698 shares during the period. Tower Research Capital LLC TRC increased its position in shares of LendingTree by 248.0% during 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 period. Finally, State of Wyoming increased its position in shares of LendingTree by 51.1% during the 1st quarter. State of Wyoming now owns 2,712 shares of the financial services provider's stock valued at $136,000 after purchasing an additional 917 shares during the period. Institutional investors own 68.26% of the company's stock.

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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