LendingTree (NASDAQ:TREE) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

LendingTree, Inc. (NASDAQ:TREE) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $55.82 and traded as high as $55.91. LendingTree shares last traded at $55.74, with a volume of 158,224 shares traded.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen downgraded shares of LendingTree from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of LendingTree in a research note on Monday, December 29th. Truist Financial boosted their price target on shares of LendingTree from $62.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. raised their price objective on LendingTree from $66.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Finally, Needham & Company LLC lifted their target price on LendingTree from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, LendingTree presently has a consensus rating of “Buy” and an average target price of $74.29.

LendingTree Stock Up 4.7%

The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.43 and a current ratio of 1.43. The company’s fifty day moving average price is $54.03 and its 200-day moving average price is $55.82. The stock has a market cap of $762.02 million, a P/E ratio of 55.19 and a beta of 2.08.

LendingTree (NASDAQ:TREE) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.47. The firm had revenue of $290.62 million during the quarter, compared to analyst estimates of $278.36 million. LendingTree had a return on equity of 36.30% and a net margin of 1.34%.LendingTree’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the company earned $0.80 EPS. Equities analysts forecast that LendingTree, Inc. will post 0.48 EPS for the current year.

Hedge Funds Weigh In On LendingTree

A number of hedge funds and other institutional investors have recently made changes to their positions in TREE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of LendingTree by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,598 shares of the financial services provider’s stock valued at $1,188,000 after acquiring an additional 1,222 shares during the period. Rhumbline Advisers boosted its stake in shares of LendingTree by 4.9% during the 1st quarter. Rhumbline Advisers now owns 14,879 shares of the financial services provider’s stock worth $748,000 after acquiring an additional 698 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in LendingTree in the 2nd quarter worth $7,337,000. Nordea Investment Management AB purchased a new stake in shares of LendingTree during the second quarter worth about $882,000. Finally, Asset Management One Co. Ltd. raised its position in shares of LendingTree by 61.3% during the 2nd quarter. Asset Management One Co. Ltd. now owns 3,317 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 1,261 shares during the last quarter. Institutional investors own 68.26% of the company’s stock.

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.