LendingTree (NASDAQ:TREE) Cut to Hold at Zacks Research

Zacks Research cut shares of LendingTree (NASDAQ:TREE) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on TREE. Truist Financial increased their price target on shares of LendingTree from $62.00 to $72.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Needham & Company LLC upped their price objective on LendingTree from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. increased their target price on LendingTree from $66.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Oppenheimer set a $85.00 target price on LendingTree and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, Wall Street Zen cut LendingTree from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $74.29.

LendingTree Stock Down 0.4%

Shares of NASDAQ:TREE opened at $53.09 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.93. The stock has a fifty day simple moving average of $54.85 and a two-hundred day simple moving average of $55.15. LendingTree has a 12-month low of $33.50 and a 12-month high of $77.35. The stock has a market capitalization of $725.74 million, a price-to-earnings ratio of 52.56 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 for the quarter, beating the consensus estimate of $1.23 by $0.47. The firm had revenue of $290.62 million during the quarter, compared to the consensus estimate of $278.36 million. LendingTree had a return on equity of 36.30% and a net margin of 1.34%.The company’s revenue was up 18.0% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. On average, research analysts anticipate that LendingTree will post 0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LendingTree

Several large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in shares of LendingTree by 272.6% in the third quarter. Farther Finance Advisors LLC now owns 462 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 338 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in LendingTree in the 3rd quarter worth $35,000. Ameritas Investment Partners Inc. lifted its position in shares of LendingTree by 25.2% in the second quarter. Ameritas Investment Partners Inc. now owns 1,141 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 230 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of LendingTree by 281.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,120 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 826 shares during the period. Finally, AlphaQuest LLC grew its position in shares of LendingTree by 11.4% during the second quarter. AlphaQuest LLC now owns 2,212 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 227 shares in the last quarter. Hedge funds and other 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.