LendingTree (NASDAQ:TREE) Rating Lowered to Hold at Zacks Research

LendingTree (NASDAQ:TREE) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages also recently commented on TREE. Weiss Ratings reaffirmed 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 target price on shares of LendingTree in a report on Friday, May 1st. Wall Street Zen lowered LendingTree from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 21st. Keefe, Bruyette & Woods dropped their target price on shares of LendingTree from $83.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Finally, Truist Financial set a $78.00 price target on LendingTree in a research note on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.60.

LendingTree Stock Performance

LendingTree stock opened at $44.80 on Tuesday. LendingTree has a 1 year low of $32.65 and a 1 year high of $77.35. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.89 and a quick ratio of 1.89. The company has a market capitalization of $624.96 million, a P/E ratio of 3.48 and a beta of 2.00. The business has a 50 day moving average of $39.59 and a 200-day moving average of $45.14.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. purchased a new position in shares of LendingTree in the 4th quarter worth about $25,000. Fifth Third Bancorp bought a new stake in LendingTree in the 4th quarter worth $32,000. OP Asset Management Ltd purchased a new position in LendingTree during the 1st quarter valued at about $34,000. Tower Research Capital LLC TRC increased its stake in shares of LendingTree by 281.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,120 shares of the financial services provider’s stock valued at $42,000 after buying an additional 826 shares during the period. Finally, New York State Teachers Retirement System purchased a new position in LendingTree during the 4th quarter valued at $54,000. 68.26% of the stock is currently owned by hedge funds and other institutional investors.

LendingTree Company Profile

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.