LendingTree (NASDAQ:TREE) Upgraded to Strong-Buy at Wall Street Zen

LendingTree (NASDAQ:TREE) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Sunday.

Other research analysts have also recently issued research reports about the company. Truist Financial set a $78.00 price target on LendingTree in a research note on Friday, May 1st. JPMorgan Chase & Co. started coverage on shares of LendingTree in a report on Tuesday, April 14th. They issued an “overweight” rating and a $50.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of LendingTree in a research report on Wednesday, June 24th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of LendingTree in a report on Friday, May 1st. Finally, Zacks Research lowered shares of LendingTree from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, LendingTree currently has a consensus rating of “Moderate Buy” and an average target price of $68.60.

LendingTree Stock Performance

Shares of TREE traded down $0.58 during mid-day trading on Friday, reaching $45.30. 119,609 shares of the company’s stock traded hands, compared to its average volume of 286,010. The business’s 50-day moving average price is $39.16 and its 200-day moving average price is $44.86. The stock has a market capitalization of $631.93 million, a P/E ratio of 3.52 and a beta of 2.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.89 and a current ratio of 1.89. LendingTree has a 12 month low of $32.65 and a 12 month high of $77.35.

LendingTree (NASDAQ:TREE) last issued its quarterly earnings data 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). LendingTree had a return on equity of 17.01% and a net margin of 15.02%.The business had revenue of $319.07 million during the quarter, compared to the consensus estimate of $321.32 million. During the same period last year, the company earned $0.99 earnings per share. The business’s quarterly revenue was up 36.5% compared to the same quarter last year. Equities analysts predict that LendingTree will post 3.64 earnings per share 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 stake in LendingTree during the 4th quarter worth about $31,120,000. Evolve Private Wealth LLC purchased a new position in shares of LendingTree in the first quarter worth approximately $619,000. UBS Group AG raised its holdings in shares of LendingTree by 374.2% during the fourth quarter. UBS Group AG now owns 143,924 shares of the financial services provider’s stock valued at $7,641,000 after acquiring an additional 113,574 shares during the period. Punch & Associates Investment Management Inc. lifted its position in shares of LendingTree by 35.1% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 469,647 shares of the financial services provider’s stock valued at $24,934,000 after acquiring an additional 121,993 shares in the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new position in LendingTree in the 3rd quarter worth approximately $1,423,000. 68.26% of the stock is currently owned by institutional investors.

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.