LendingTree (NASDAQ:TREE) Stock Gets Price Target Reduction from Truist Financial

by · The Markets Daily

LendingTree (NASDAQ:TREE – Free Report) had its target price trimmed by Truist Financial from $70.00 to $65.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other research firms also recently weighed in on TREE. Weiss Ratings reissued a “hold (c)” rating on shares of LendingTree in a research report on Monday, September 21st. Needham & Company LLC lowered their price target on LendingTree from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Northland Securities set a $60.00 price target on LendingTree in a research report on Thursday, July 30th. Wall Street Zen lowered shares of LendingTree from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of LendingTree from $70.00 to $58.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, LendingTree has a consensus rating of “Moderate Buy” and an average price target of $53.60.

Read Our Latest Stock Report on LendingTree

LendingTree Trading Down 4.4%

TREE traded down $1.72 on Wednesday, hitting $37.01. The company had a trading volume of 384,384 shares, compared to its average volume of 260,320. The company has a market cap of $519.62 million, a PE ratio of 5.27 and a beta of 1.99. LendingTree has a 12-month low of $23.50 and a 12-month high of $68.93. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.20. The business’s fifty day simple moving average is $26.89 and its 200 day simple moving average is $37.55.

LendingTree (NASDAQ:TREE – Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported ($5.15) earnings per share for the quarter, missing the consensus estimate of $1.26 by ($6.41). LendingTree had a return on equity of 14.57% and a net margin of 14.33%. The company had revenue of $343.59 million for the quarter, compared to the consensus estimate of $329.72 million. During the same period in the previous year, the firm earned $1.70 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. Equities research analysts expect that LendingTree will post 3.49 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TREE. Arrowstreet Capital Limited Partnership lifted its stake in shares of LendingTree by 33.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 274,366 shares of the financial services provider’s stock worth $11,765,000 after acquiring an additional 68,466 shares during the last quarter. Punch & Associates Investment Management Inc. purchased a new position in LendingTree during the 2nd quarter valued at $32,140,000. Bank of America Corp DE purchased a new position in LendingTree during the 2nd quarter valued at $1,825,000. Bank of New York Mellon Corp bought a new position in LendingTree in the 2nd quarter valued at $1,612,000. Finally, S Squared Technology LLC bought a new position in LendingTree in the 2nd quarter valued at $4,795,190. Hedge funds and other institutional investors own 68.26% of the company’s stock.

LendingTree Company Profile

(Get Free Report)

LendingTree, Inc operates an online marketplace that helps consumers compare financial products and services from a network of lenders, insurers and other providers. Its platform is designed to connect shoppers with potential offers based on their financial needs and preferences.

The company’s marketplace includes products such as mortgages and other home loans, personal loans, business loans, auto loans, credit cards, insurance and deposit accounts. LendingTree also provides educational content, comparison tools and financial guidance intended to help consumers evaluate borrowing, insurance and saving options.

Founded in 1996 by Doug Lebda, LendingTree is headquartered in Charlotte, North Carolina, and primarily serves consumers in the United States.

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