LendingTree (NASDAQ:TREE) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. assumed coverage on shares of LendingTree (NASDAQ:TREE) in a research report issued to clients and investors on Tuesday. The firm set an “overweight” rating and a $50.00 price target on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 12.14% from the company’s current price.

A number of other research firms also recently weighed in on TREE. Keefe, Bruyette & Woods dropped their price target on shares of LendingTree from $83.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. Zacks Research downgraded shares of LendingTree from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Weiss Ratings restated a “hold (c-)” rating on shares of LendingTree in a research report on Monday, December 29th. Wall Street Zen downgraded shares of LendingTree from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Needham & Company LLC lowered their price objective on shares of LendingTree from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.40.

LendingTree Stock Performance

TREE stock traded up $1.25 during trading hours on Tuesday, hitting $44.59. 40,930 shares of the stock were exchanged, compared to its average volume of 373,519. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $617.78 million, a P/E ratio of 4.15 and a beta of 2.13. The company has a 50-day simple moving average of $41.42 and a two-hundred day simple moving average of $51.81. LendingTree has a 12 month low of $32.65 and a 12 month high of $77.35.

LendingTree (NASDAQ:TREE) last released its quarterly earnings results on Monday, March 2nd. The financial services provider reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($1.29). LendingTree had a net margin of 13.55% and a return on equity of 12.44%. The business had revenue of $310.92 million during the quarter, compared to analyst estimates of $286.56 million. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. On average, analysts forecast that LendingTree will post 0.48 earnings per share for the current fiscal year.

Institutional Trading of LendingTree

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its stake in shares of LendingTree by 272.6% during the third quarter. Farther Finance Advisors LLC now owns 462 shares of the financial services provider’s stock worth $30,000 after buying an additional 338 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in shares of LendingTree during the fourth quarter worth $25,000. State of Alaska Department of Revenue bought a new stake in shares of LendingTree during the third quarter worth $35,000. Fifth Third Bancorp bought a new stake in shares of LendingTree during the fourth quarter worth $32,000. Finally, New York State Teachers Retirement System bought a new stake in shares of LendingTree during the fourth quarter worth $54,000. Institutional investors own 68.26% of the company’s stock.

About LendingTree

LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.

Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.