LendingTree (NASDAQ:TREE) Stock Rating Upgraded by Wall Street Zen

Key Points

• LendingTree's stock rating has been upgraded from "buy" to "strong-buy" by analysts at Wall Street Zen, reflecting positive sentiment towards its performance.
• The company reported earnings of $1.13 per share for the last quarter, surpassing estimates and marking a 19% increase in revenue compared to the previous year.
• Institutional investors have significantly increased their stakes, with Ameriprise Financial boosting its position by 1,747.8% in the second quarter, indicating strong institutional confidence in LendingTree's future.

LendingTree (NASDAQ:TREE - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Tuesday.

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

LendingTree Stock Performance

Shares of LendingTree stock opened at $69.82 on Tuesday. LendingTree has a one year low of $33.50 and a one year high of $70.72. The firm has a market capitalization of $950.95 million, a price-to-earnings ratio of -17.20 and a beta of 1.58. The business has a 50-day simple moving average of $46.27 and a 200 day simple moving average of $44.23. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.22 and a quick ratio of 1.22.

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

Institutional Trading of LendingTree

Several institutional investors have recently added to or reduced their stakes in TREE. Ameriprise Financial Inc. boosted its position in LendingTree by 1,747.8% during the second quarter. Ameriprise Financial Inc. now owns 546,536 shares of the financial services provider's stock valued at $20,260,000 after buying an additional 516,958 shares during the period. Nuveen LLC purchased a new stake in shares of LendingTree during the first quarter worth about $11,603,000. Harbor Capital Advisors Inc. purchased a new stake in shares of LendingTree during the second quarter worth about $7,337,000. G2 Investment Partners Management LLC boosted its holdings in shares of LendingTree by 69.0% during the second quarter. G2 Investment Partners Management LLC now owns 305,573 shares of the financial services provider's stock worth $11,328,000 after purchasing an additional 124,806 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in shares of LendingTree by 2,074.7% during the fourth quarter. Squarepoint Ops LLC now owns 107,998 shares of the financial services provider's stock worth $4,185,000 after purchasing an additional 103,032 shares during the period. 68.26% of the stock is currently owned by hedge funds and other 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.

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