Needham & Company LLC Cuts LendingTree (NASDAQ:TREE) Price Target to $62.00

LendingTree (NASDAQ:TREE - Get Free Report) had its price target lowered by Needham & Company LLC from $65.00 to $62.00 in a research 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 target points to a potential upside of 14.56% from the stock's current price.

A number of other brokerages also recently weighed in on TREE. Stephens reiterated an "overweight" rating and issued a $69.00 price target on shares of LendingTree in a research report on Thursday, March 6th. JPMorgan Chase & Co. increased their price target on shares of LendingTree from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Thursday, March 6th. Northland Securities upgraded shares of LendingTree from a "market perform" rating to an "outperform" rating and set a $60.00 price target on the stock in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods cut their price target on shares of LendingTree from $73.00 to $66.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Finally, Northland Capmk upgraded shares of LendingTree from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $65.38.

LendingTree Stock Performance

LendingTree stock opened at $54.12 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.67. LendingTree has a 1 year low of $34.55 and a 1 year high of $62.49. The company has a market cap of $724.88 million, a PE ratio of -20.04 and a beta of 1.90. The company's 50-day moving average is $46.86 and its two-hundred day moving average is $45.43.

Insider Transactions at LendingTree

In other LendingTree news, COO Scott Peyree purchased 21,045 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $41.69 per share, with a total value of $877,366.05. Following the purchase, the chief operating officer now directly owns 76,760 shares of the company's stock, valued at $3,200,124.40. The trade was a 37.77 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 23.40% of the company's stock.

Institutional Trading of LendingTree

A number of large investors have recently added to or reduced their stakes in TREE. New Age Alpha Advisors LLC bought a new stake in shares of LendingTree in the 4th quarter valued at about $36,000. Tower Research Capital LLC TRC raised its holdings in shares of 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 period. Wealthfront Advisers LLC bought a new stake in shares of LendingTree in the 4th quarter valued at about $54,000. CANADA LIFE ASSURANCE Co bought a new stake in shares of LendingTree in the 4th quarter valued at about $56,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of LendingTree in the 4th quarter valued at about $70,000. Institutional investors and hedge funds own 68.26% of the company's stock.

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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