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

Key Points

• LendingTree has been downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating, signaling a shift in analyst sentiment.
• The stock currently holds a consensus rating of "Buy" with a price target average of $65.38, as multiple analysts have recently issued varying ratings and target prices.
• LendingTree recently reported quarterly earnings of $1.13 EPS, exceeding expectations, and showcased a 19% year-over-year increase in revenue.

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

Several other research analysts have also issued reports on the stock. Truist Financial set a $62.00 price target on shares of LendingTree and gave the stock a "buy" rating in a research report on Monday, August 4th. Needham & Company LLC boosted their price target on LendingTree from $62.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, LendingTree has an average rating of "Buy" and an average target price of $65.38.

LendingTree Stock Performance

Shares of TREE traded up $0.4750 during trading hours on Monday, reaching $62.9050. 64,126 shares of the company traded hands, compared to its average volume of 320,151. LendingTree has a 1-year low of $33.50 and a 1-year high of $65.42. The stock has a market cap of $856.77 million, a P/E ratio of -15.49 and a beta of 1.58. The stock's fifty day moving average is $44.32 and its 200 day moving average is $43.78. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.22 and a current ratio of 1.22.

LendingTree (NASDAQ:TREE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.04. The company had revenue of $250.10 million during the quarter, compared to the consensus estimate of $244.03 million. LendingTree had a positive return on equity of 25.79% and a negative net margin of 5.33%.The company's quarterly revenue was up 19.0% compared to the same quarter last year. Equities research analysts anticipate that LendingTree will post 0.48 earnings per share for the current fiscal year.

Insider Transactions at LendingTree

In other news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of LendingTree stock in a transaction dated 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 directly owned 2,028 shares of the company's stock, valued at approximately $73,494.72. The trade was a 38.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 23.10% of the company's stock.

Institutional Investors Weigh In On LendingTree

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its holdings in shares of LendingTree by 25.2% in the second quarter. Ameritas Investment Partners Inc. now owns 1,141 shares of the financial services provider's stock valued at $42,000 after buying an additional 230 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in LendingTree by 281.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,120 shares of the financial services provider's stock worth $42,000 after buying an additional 826 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings 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 acquiring an additional 848 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new position in shares of LendingTree in the fourth quarter worth $56,000. Finally, Lazard Asset Management LLC raised its holdings in shares of LendingTree by 4,509.1% during the fourth quarter. Lazard Asset Management LLC now owns 2,028 shares of the financial services provider's stock worth $78,000 after acquiring an additional 1,984 shares in the last quarter. 68.26% of the stock is currently owned by institutional investors.

About LendingTree

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.