LendingClub Corporation (NYSE:LC)‘s stock had its “hold” rating restated by equities researchers at Canaccord Genuity in a report released on Thursday. They currently have a $7.00 price objective on the credit services provider’s stock. Canaccord Genuity’s target price suggests a potential upside of 15.13% from the stock’s previous close.

A number of other analysts have also recently issued reports on LC. UBS AG upgraded LendingClub Corporation from a “neutral” rating to a “positive” rating in a report on Monday, May 1st. Vetr cut LendingClub Corporation from a “strong-buy” rating to a “hold” rating and set a $6.55 target price for the company. in a report on Wednesday. Credit Suisse Group reiterated a “neutral” rating and set a $8.00 target price on shares of LendingClub Corporation in a report on Thursday. BidaskClub upgraded LendingClub Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday. Finally, Wedbush reiterated a “neutral” rating and set a $5.00 target price on shares of LendingClub Corporation in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. LendingClub Corporation presently has an average rating of “Hold” and an average target price of $6.59.

LendingClub Corporation (NYSE:LC) opened at 6.08 on Thursday. The firm’s 50-day moving average is $5.38 and its 200 day moving average is $5.62. LendingClub Corporation has a 52 week low of $4.30 and a 52 week high of $6.78. The stock’s market cap is $2.46 billion.

LendingClub Corporation (NYSE:LC) last issued its earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.06). LendingClub Corporation had a negative return on equity of 11.99% and a negative net margin of 24.52%. The business had revenue of $139.60 million during the quarter, compared to analysts’ expectations of $134.02 million. During the same quarter in the previous year, the business earned ($0.09) EPS. The company’s revenue for the quarter was up 35.0% on a year-over-year basis. On average, equities research analysts expect that LendingClub Corporation will post $0.05 EPS for the current year.

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In other LendingClub Corporation news, COO Sameer Gulati sold 8,305 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $5.08, for a total value of $42,189.40. Following the transaction, the chief operating officer now directly owns 265,657 shares of the company’s stock, valued at approximately $1,349,537.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas W. Casey sold 5,254 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $5.65, for a total value of $29,685.10. Following the completion of the transaction, the chief financial officer now directly owns 31,203 shares in the company, valued at $176,296.95. The disclosure for this sale can be found here. Insiders have sold a total of 383,239 shares of company stock worth $2,199,584 over the last three months. 11.40% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. raised its position in shares of LendingClub Corporation by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock worth $119,000 after buying an additional 760 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of LendingClub Corporation by 27.4% in the second quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock worth $131,000 after buying an additional 5,130 shares during the last quarter. Blair William & Co. IL raised its position in shares of LendingClub Corporation by 11.3% in the second quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock worth $144,000 after buying an additional 2,650 shares during the last quarter. Malaga Cove Capital LLC raised its position in shares of LendingClub Corporation by 3.7% in the first quarter. Malaga Cove Capital LLC now owns 27,800 shares of the credit services provider’s stock worth $147,000 after buying an additional 1,000 shares during the last quarter. Finally, Brighton Jones LLC acquired a new position in shares of LendingClub Corporation during the second quarter worth about $154,000. 90.92% of the stock is currently owned by institutional investors.

About LendingClub Corporation

LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.

Analyst Recommendations for LendingClub Corporation (NYSE:LC)

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