LendingTree (NASDAQ:TREE) Price Target Raised to $56.00

LendingTree (NASDAQ:TREE) had its price objective upped by equities researchers at Needham & Company LLC from $40.00 to $56.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 16.98% from the stock’s current price.

TREE has been the subject of several other reports. Truist Financial lifted their target price on LendingTree from $24.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. StockNews.com cut LendingTree from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. Oppenheimer lifted their target price on LendingTree from $25.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 8th. JPMorgan Chase & Co. increased their price target on LendingTree from $25.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Finally, Susquehanna increased their target price on shares of LendingTree from $15.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.86.

LendingTree Trading Up 28.2 %

Shares of TREE traded up $10.52 during midday trading on Tuesday, hitting $47.87. The stock had a trading volume of 940,609 shares, compared to its average volume of 294,976. The stock’s 50 day moving average is $38.38 and its 200 day moving average is $29.10. The firm has a market cap of $624.22 million, a PE ratio of -4.99 and a beta of 2.19. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.60 and a quick ratio of 2.60. LendingTree has a 1 year low of $10.12 and a 1 year high of $48.39.

LendingTree (NASDAQ:TREE) last posted its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.14. LendingTree had a negative net margin of 18.20% and a negative return on equity of 4.22%. The company had revenue of $134.40 million for the quarter, compared to analyst estimates of $135.55 million. During the same period in the prior year, the company posted ($0.53) EPS. As a group, analysts forecast that LendingTree will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On LendingTree

Several institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of LendingTree by 109.9% in the 3rd quarter. SG Americas Securities LLC now owns 10,076 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 5,276 shares in the last quarter. Intellectus Partners LLC boosted its holdings in LendingTree by 14.6% in the third quarter. Intellectus Partners LLC now owns 16,050 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 2,050 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of LendingTree by 13.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,727 shares of the financial services provider’s stock worth $492,000 after acquiring an additional 3,864 shares during the last quarter. Olympiad Research LP increased its holdings in shares of LendingTree by 36.4% during the third quarter. Olympiad Research LP now owns 12,491 shares of the financial services provider’s stock valued at $194,000 after acquiring an additional 3,336 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of LendingTree in the 3rd quarter valued at approximately $205,000. 68.26% of the stock is owned by hedge funds and other 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.