A number of research firms have changed their ratings and price targets for LendingClub Corporation (NYSE: LC):

  • 8/3/2017 – LendingClub Corporation was upgraded by analysts at UBS AG from a “market perform” rating to an “outperform” rating.
  • 8/3/2017 – LendingClub Corporation was upgraded by analysts at Oppenheimer Holdings, Inc. from a “market perform” rating to an “outperform” rating. They now have a $7.00 price target on the stock.
  • 8/3/2017 – LendingClub Corporation was upgraded by analysts at CIBC from a “market perform” rating to an “outperform” rating.
  • 7/24/2017 – LendingClub Corporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/19/2017 – LendingClub Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 7/11/2017 – LendingClub Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 7/6/2017 – LendingClub Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $6.25 price target on the 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. “
  • 7/6/2017 – LendingClub Corporation had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $7.00 price target on the stock, down previously from $8.00.
  • 6/21/2017 – LendingClub Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “

Shares of LendingClub Corporation (NYSE LC) opened at 5.46 on Tuesday. The stock’s market capitalization is $2.21 billion. The company has a 50-day moving average of $5.43 and a 200-day moving average of $5.63. LendingClub Corporation has a 1-year low of $4.30 and a 1-year high of $6.78.

LendingClub Corporation (NYSE:LC) last released its earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $139.60 million during the quarter, compared to the consensus estimate of $134.02 million. LendingClub Corporation had a negative return on equity of 14.31% and a negative net margin of 38.40%. LendingClub Corporation’s revenue was up 35.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.09) EPS. On average, equities research analysts expect that LendingClub Corporation will post $0.03 EPS for the current fiscal year.

In other LendingClub Corporation news, CEO Scott Sanborn sold 45,970 shares of LendingClub Corporation stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $5.89, for a total value of $270,763.30. Following the completion of the transaction, the chief executive officer now directly owns 910,901 shares of the company’s stock, valued at approximately $5,365,206.89. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Simon Williams sold 80,000 shares of LendingClub Corporation stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $5.98, for a total value of $478,400.00. Following the completion of the transaction, the director now directly owns 161,053 shares of the company’s stock, valued at $963,096.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 463,239 shares of company stock valued at $2,677,984. 11.40% of the stock is currently owned by corporate insiders.

LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.

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