LendingTree (NASDAQ:TREE) Price Target Lowered to $60.00 at Truist Financial

LendingTree (NASDAQ:TREE) had its target price lowered by investment analysts at Truist Financial from $72.00 to $60.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price suggests a potential upside of 62.51% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Northland Securities upgraded shares of LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upped their price target on shares of LendingTree from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Keefe, Bruyette & Woods dropped their target price on shares of LendingTree from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Stephens restated an “overweight” rating and issued a $69.00 price objective on shares of LendingTree in a research report on Thursday, March 6th. Finally, Northland Capmk upgraded LendingTree from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $64.13.

LendingTree Stock Performance

Shares of NASDAQ:TREE opened at $36.92 on Monday. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92. The business’s fifty day moving average price is $46.84 and its two-hundred day moving average price is $44.90. LendingTree has a fifty-two week low of $34.55 and a fifty-two week high of $62.49. The stock has a market capitalization of $499.71 million, a price-to-earnings ratio of -13.67 and a beta of 1.76.

LendingTree (NASDAQ:TREE) last posted its earnings results on Thursday, May 1st. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.25. The business had revenue of $239.70 million for the quarter, compared to analyst estimates of $244.93 million. LendingTree had a negative net margin of 4.72% and a positive return on equity of 0.51%. The company’s revenue was up 42.8% on a year-over-year basis. As a group, analysts predict that LendingTree will post 0.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Scott Peyree purchased 21,045 shares of LendingTree stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $41.69 per share, with a total value of $877,366.05. Following the completion of the transaction, the chief operating officer now directly owns 76,760 shares in the company, valued at $3,200,124.40. This trade represents a 37.77 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 23.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TREE. Barclays PLC raised its position in shares of LendingTree by 301.5% during the third quarter. Barclays PLC now owns 21,409 shares of the financial services provider’s stock worth $1,244,000 after purchasing an additional 16,077 shares during the period. Hennessy Advisors Inc. increased its stake in LendingTree by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 242,400 shares of the financial services provider’s stock worth $9,393,000 after purchasing an additional 15,400 shares in the last quarter. Empowered Funds LLC raised its holdings in LendingTree by 4.9% during the 4th quarter. Empowered Funds LLC now owns 36,946 shares of the financial services provider’s stock worth $1,432,000 after buying an additional 1,728 shares during the period. Asset Management One Co. Ltd. raised its holdings in LendingTree by 101.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,027 shares of the financial services provider’s stock worth $80,000 after buying an additional 1,021 shares during the period. Finally, Congress Asset Management Co. lifted its stake in LendingTree by 13.4% in the fourth quarter. Congress Asset Management Co. now owns 24,808 shares of the financial services provider’s stock valued at $961,000 after buying an additional 2,923 shares in the last quarter. 68.26% of the stock is currently owned by institutional investors.

About LendingTree

LendingTree, Inc, through its subsidiary, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, and home equity loans and lines of credit; and real estate brokerage services.