LendingTree (NASDAQ:TREE) Price Target Raised to $62.00 at Truist Financial

LendingTree (NASDAQ:TREE) had its price objective boosted by Truist Financial from $60.00 to $62.00 in a research note issued to investors on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on the stock. Needham & Company LLC raised their target price on shares of LendingTree from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday. Wall Street Zen upgraded LendingTree from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $65.38.

LendingTree Stock Up 7.3%

Shares of TREE opened at $53.09 on Monday. The stock has a 50 day moving average price of $38.42 and a 200 day moving average price of $42.50. LendingTree has a one year low of $33.50 and a one year high of $62.49. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.20 and a current ratio of 1.22. The stock has a market capitalization of $718.31 million, a price-to-earnings ratio of -13.08 and a beta of 1.58.

LendingTree (NASDAQ:TREE) last released its earnings results on Thursday, July 31st. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. The business had revenue of $250.10 million during the quarter, compared to analyst estimates of $244.03 million. LendingTree had a negative net margin of 5.33% and a positive return on equity of 25.79%. The business’s revenue was up 19.0% compared to the same quarter last year. Equities research analysts forecast that LendingTree will post 0.48 earnings per share for the current fiscal year.

Insider Transactions at LendingTree

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $36.24, for a total value of $45,300.00. Following the transaction, the general counsel owned 2,028 shares of the company’s stock, valued at $73,494.72. This represents a 38.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On LendingTree

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings in LendingTree by 248.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,190 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 848 shares during the last quarter. CANADA LIFE ASSURANCE Co purchased a new position in shares of LendingTree during the fourth quarter worth $56,000. KLP Kapitalforvaltning AS acquired a new stake in shares of LendingTree in the fourth quarter valued at $70,000. Lazard Asset Management LLC grew its stake in shares of LendingTree by 4,509.1% in the fourth quarter. Lazard Asset Management LLC now owns 2,028 shares of the financial services provider’s stock valued at $78,000 after buying an additional 1,984 shares in the last quarter. Finally, AlphaQuest LLC raised its holdings in shares of LendingTree by 11.4% in the 2nd quarter. AlphaQuest LLC now owns 2,212 shares of the financial services provider’s stock valued at $82,000 after buying an additional 227 shares during the period. 68.26% of the stock is owned by hedge funds and other institutional investors.

LendingTree Company Profile

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.