LendingTree (NASDAQ:TREE) Lowered to “Buy” Rating by Wall Street Zen

LendingTree (NASDAQ:TREE) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday.

A number of other research analysts have also recently commented on the stock. Zacks Research raised shares of LendingTree from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Truist Financial set a $78.00 price target on shares of LendingTree in a report on Friday, May 1st. JPMorgan Chase & Co. assumed coverage on shares of LendingTree in a research note on Tuesday, April 14th. They set an “overweight” rating and a $50.00 price target on the stock. Keefe, Bruyette & Woods cut their price objective on shares of LendingTree from $83.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of LendingTree in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, LendingTree has a consensus rating of “Buy” and a consensus price target of $68.60.

LendingTree Stock Performance

LendingTree stock opened at $39.07 on Friday. The stock’s 50 day moving average price is $40.36 and its 200 day moving average price is $46.08. The firm has a market capitalization of $545.03 million, a PE ratio of 3.04 and a beta of 2.04. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.89 and a current ratio of 1.89. LendingTree has a one year low of $32.65 and a one year high of $77.35.

LendingTree (NASDAQ:TREE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.11). LendingTree had a return on equity of 17.01% and a net margin of 15.02%.The company had revenue of $319.07 million during the quarter, compared to analysts’ expectations of $321.32 million. During the same quarter in the prior year, the company earned $0.99 EPS. The firm’s revenue was up 36.5% compared to the same quarter last year. As a group, sell-side analysts expect that LendingTree will post 3.64 EPS for the current fiscal year.

Hedge Funds Weigh In On LendingTree

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mariner LLC grew its position in shares of LendingTree by 31.5% during the fourth quarter. Mariner LLC now owns 1,760,407 shares of the financial services provider’s stock worth $93,461,000 after buying an additional 421,826 shares in the last quarter. Jennison Associates LLC raised its holdings in LendingTree by 74.0% in the first quarter. Jennison Associates LLC now owns 1,020,211 shares of the financial services provider’s stock valued at $43,747,000 after acquiring an additional 434,038 shares in the last quarter. Punch & Associates Investment Management Inc. raised its holdings in LendingTree by 37.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 647,038 shares of the financial services provider’s stock valued at $27,745,000 after acquiring an additional 177,391 shares in the last quarter. Blue Grotto Capital LLC boosted its stake in LendingTree by 64.3% during the 4th quarter. Blue Grotto Capital LLC now owns 584,931 shares of the financial services provider’s stock valued at $31,054,000 after acquiring an additional 228,858 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of LendingTree by 1,747.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 546,536 shares of the financial services provider’s stock worth $20,260,000 after purchasing an additional 516,958 shares during the last quarter. 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.