Oppenheimer Trims LendingTree (NASDAQ:TREE) Target Price to $55.00

Posted by MarketBeat News on Aug 1st, 2022

LendingTree (NASDAQ:TREE – Get Rating) had its price objective cut by Oppenheimer from $120.00 to $55.00 in a research note issued to investors on Friday morning, The Fly reports. They currently have a maintains rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on TREE. StockNews.com assumed coverage on shares of LendingTree in a report on Thursday, March 31st. They issued a hold rating on the stock. Needham & Company LLC reduced their target price on LendingTree from $105.00 to $62.00 and set a buy rating on the stock in a research note on Friday, June 24th. Northland Securities cut LendingTree from an outperform rating to a market perform rating and set a $90.00 target price on the stock. in a research note on Friday, May 6th. William Blair reissued an outperform rating on shares of LendingTree in a research note on Friday, June 3rd. Finally, Susquehanna Bancshares reduced their target price on LendingTree from $180.00 to $160.00 in a research note on Friday, May 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $100.13.

LendingTree Trading Down 2.5 %

Shares of TREE stock opened at $45.58 on Friday. The stock has a market capitalization of $581.87 million, a price-to-earnings ratio of 16.11 and a beta of 1.72. LendingTree has a 1 year low of $40.82 and a 1 year high of $212.00. The company’s fifty day simple moving average is $51.82 and its two-hundred day simple moving average is $86.66. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.18 and a quick ratio of 1.18.

LendingTree (NASDAQ:TREE – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The financial services provider reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($1.02) by $0.40. The firm had revenue of $283.18 million for the quarter, compared to analysts’ expectations of $283.65 million. LendingTree had a net margin of 3.54% and a negative return on equity of 4.84%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. As a group, analysts anticipate that LendingTree will post -3.05 earnings per share for the current year.

Insiders Place Their Bets

In other LendingTree news, Director Mark A. Ernst bought 10,000 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was acquired at an average price of $65.67 per share, with a total value of $656,700.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $656,700. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 17.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LendingTree

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of LendingTree by 2.2% during the first quarter. Vanguard Group Inc. now owns 1,260,887 shares of the financial services provider’s stock valued at $150,890,000 after purchasing an additional 26,934 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of LendingTree by 45.3% during the second quarter. Assenagon Asset Management S.A. now owns 228,675 shares of the financial services provider’s stock valued at $10,021,000 after purchasing an additional 71,250 shares in the last quarter. Bernzott Capital Advisors increased its stake in shares of LendingTree by 38.3% during the first quarter. Bernzott Capital Advisors now owns 217,358 shares of the financial services provider’s stock valued at $26,011,000 after purchasing an additional 60,154 shares in the last quarter. Invesco Ltd. increased its stake in shares of LendingTree by 1.8% during the fourth quarter. Invesco Ltd. now owns 187,258 shares of the financial services provider’s stock valued at $22,958,000 after purchasing an additional 3,303 shares in the last quarter. Finally, Rubric Capital Management LP bought a new position in shares of LendingTree during the fourth quarter valued at approximately $20,751,000. Institutional investors own 86.31% of the company’s stock.

LendingTree Company Profile

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LendingTree, Inc, through its subsidiary, LT Intermediate Company, LLC, 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, reverse mortgage, and home equity loans; lines of credit; and real estate brokerage services.