Brokerages Set LendingTree, Inc. (NASDAQ:TREE) Price Target at $76.67

LendingTree, Inc. (NASDAQ:TREE) has received an average recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $76.6667.

Several brokerages recently weighed in on TREE. Wall Street Zen cut shares of LendingTree from a “strong-buy” rating to a “buy” rating in a report on Monday, November 10th. Zacks Research downgraded LendingTree from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Truist Financial increased their price target on shares of LendingTree from $62.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of LendingTree in a report on Monday, December 29th. Finally, Oppenheimer set a $85.00 target price on LendingTree and gave the company an “outperform” rating in a report on Friday, October 31st.

Hedge Funds Weigh In On LendingTree

Several institutional investors and hedge funds have recently modified their holdings of the company. Financial Management Professionals Inc. acquired a new stake in LendingTree during the 4th quarter worth approximately $25,000. Farther Finance Advisors LLC grew its stake in 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 period. Fifth Third Bancorp acquired a new stake in shares of LendingTree in the fourth quarter worth $32,000. State of Alaska Department of Revenue purchased a new position in shares of LendingTree in the 3rd quarter valued at $35,000. Finally, Ameritas Investment Partners Inc. raised its stake in shares of LendingTree by 25.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,141 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 230 shares during the period. Hedge funds and other institutional investors own 68.26% of the company’s stock.

LendingTree Stock Up 3.2%

Shares of NASDAQ TREE opened at $39.75 on Friday. The company has a 50 day simple moving average of $54.81 and a 200-day simple moving average of $58.81. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $543.38 million, a P/E ratio of 39.36 and a beta of 2.13. LendingTree has a 1 year low of $33.50 and a 1 year high of $77.35.

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.