Zacks Investment Research upgraded shares of LendingClub (NYSE:LC) from a hold rating to a buy rating in a report released on Saturday, reports. They currently have $16.00 price objective on the credit services provider’s stock.

According to Zacks, “LendingClub Corporation provides internet financial services. The Company offers online marketplace for loan approval, pricing, servicing and support operations as well as regulatory and legal framework which connects borrowers and investors. LendingClub Corporation is headquartered in San Francisco, California. “

A number of other brokerages have also commented on LC. ValuEngine raised shares of LendingClub from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Maxim Group reissued a buy rating and issued a $23.00 price objective on shares of LendingClub in a research report on Thursday. Morgan Stanley lowered their target price on shares of LendingClub from $23.75 to $17.00 and set an equal weight rating on the stock in a report on Friday, July 12th. Finally, BTIG Research lowered their target price on shares of LendingClub from $30.00 to $23.00 and set a buy rating on the stock in a report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $20.80.

Shares of LC stock traded up $0.11 during trading on Friday, reaching $14.76. The company’s stock had a trading volume of 505,843 shares, compared to its average volume of 551,475. The business has a fifty day moving average price of $12.90 and a 200-day moving average price of $9.68. The company has a quick ratio of 5.81, a current ratio of 7.06 and a debt-to-equity ratio of 2.11. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -42.17 and a beta of 1.60. LendingClub has a one year low of $10.89 and a one year high of $18.85.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Tuesday, November 5th. The credit services provider reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.08. The business had revenue of $204.90 million for the quarter, compared to analyst estimates of $204.63 million. LendingClub had a negative net margin of 5.91% and a negative return on equity of 1.02%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Research analysts anticipate that LendingClub will post -0.13 EPS for the current year.

In other news, President Steven Allocca bought 14,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of $13.92 per share, for a total transaction of $194,880.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy Bogan sold 10,463 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $14.34, for a total transaction of $150,039.42. Following the transaction, the insider now owns 59,541 shares in the company, valued at $853,817.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,563 shares of company stock worth $510,603. 4.20% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Aperio Group LLC acquired a new position in shares of LendingClub in the second quarter valued at $32,000. Tower Research Capital LLC TRC acquired a new position in shares of LendingClub in the third quarter valued at $33,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of LendingClub in the second quarter valued at $54,000. Mizuho Securities Co. Ltd. acquired a new position in shares of LendingClub in the second quarter valued at $66,000. Finally, Prudential Financial Inc. increased its holdings in shares of LendingClub by 9.0% in the second quarter. Prudential Financial Inc. now owns 23,470 shares of the credit services provider’s stock valued at $77,000 after purchasing an additional 1,930 shares during the last quarter.

About LendingClub

LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.

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