Keefe, Bruyette & Woods Cuts LendingTree (NASDAQ:TREE) Price Target to $58.00

LendingTree (NASDAQ:TREEGet Free Report) had its price target decreased by investment analysts at Keefe, Bruyette & Woods from $70.00 to $58.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 29.76% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Wall Street Zen raised shares of LendingTree from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LendingTree in a research note on Wednesday, June 24th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of LendingTree in a report on Friday, May 1st. Zacks Research cut LendingTree from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. began coverage on LendingTree in a report on Tuesday, April 14th. They issued an “overweight” rating and a $50.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.20.

Check Out Our Latest Analysis on LendingTree

LendingTree Trading Down 1.3%

NASDAQ TREE opened at $44.70 on Monday. The stock has a 50-day simple moving average of $39.16 and a 200 day simple moving average of $44.80. The company has a market capitalization of $623.55 million, a PE ratio of 3.48 and a beta of 2.00. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 1.27. LendingTree has a 12 month low of $32.65 and a 12 month high of $77.35.

LendingTree (NASDAQ:TREEGet Free Report) last issued its earnings results on Thursday, April 30th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.11). The company had revenue of $319.07 million for the quarter, compared to the consensus estimate of $321.32 million. LendingTree had a return on equity of 17.01% and a net margin of 15.02%.LendingTree’s quarterly revenue was up 36.5% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. Research analysts forecast that LendingTree will post 3.64 EPS for the current year.

Institutional Trading of LendingTree

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jennison Associates LLC acquired a new position in LendingTree during the fourth quarter worth $31,120,000. Ameriprise Financial Inc. increased its stake in LendingTree by 1,747.8% in the 2nd 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 last quarter. Mariner LLC lifted its position in LendingTree by 31.5% during the 4th quarter. Mariner LLC now owns 1,760,407 shares of the financial services provider’s stock worth $93,461,000 after buying an additional 421,826 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in LendingTree by 1,163.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 263,835 shares of the financial services provider’s stock worth $17,078,000 after buying an additional 242,947 shares in the last quarter. Finally, Blue Grotto Capital LLC lifted its position in LendingTree by 64.3% during the 4th quarter. Blue Grotto Capital LLC now owns 584,931 shares of the financial services provider’s stock worth $31,054,000 after buying an additional 228,858 shares in the last quarter. 68.26% of the stock is currently owned by institutional investors and hedge funds.

About LendingTree

(Get Free Report)

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.

Further Reading

Analyst Recommendations for LendingTree (NASDAQ:TREE)

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