LendingClub Corporation (LC) Given a $6.00 Price Target by Wedbush Analysts
LendingClub Corporation (NYSE:LC) received a $6.00 price target from Wedbush in a research report issued to clients and investors on Tuesday. The firm currently has a “hold” rating on the credit services provider’s stock. Wedbush’s target price points to a potential upside of 3.27% from the stock’s previous close.
Several other equities research analysts have also issued reports on LC. BTIG Research reiterated a “buy” rating and set a $9.00 price target on shares of LendingClub Corporation in a report on Monday, May 8th. Zacks Investment Research lowered LendingClub Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Susquehanna Bancshares Inc upgraded LendingClub Corporation from a “neutral” rating to a “positive” rating and lifted their price target for the company from $6.00 to $9.00 in a report on Monday, May 1st. Vetr upgraded LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Monday, May 8th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $7.00 price target (down from $8.00) on shares of LendingClub Corporation in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $6.75.
Shares of LendingClub Corporation (NYSE:LC) traded up 0.086% on Tuesday, hitting $5.815. 1,623,197 shares of the stock traded hands. LendingClub Corporation has a one year low of $4.64 and a one year high of $6.79. The company’s 50 day moving average is $5.42 and its 200 day moving average is $5.62. The stock’s market cap is $2.39 billion.
LendingClub Corporation (NYSE:LC) last announced its quarterly earnings data on Monday, August 7th. The credit services provider reported ($0.06) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.06). LendingClub Corporation had a negative return on equity of 11.97% and a negative net margin of 24.52%. The firm had revenue of $139.60 million during the quarter, compared to analyst estimates of $134.02 million. During the same period last year, the company posted ($0.09) EPS. The business’s quarterly revenue was up 35.0% compared to the same quarter last year. On average, equities analysts forecast that LendingClub Corporation will post $0.05 EPS for the current year.
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In related news, CFO Thomas W. Casey sold 5,254 shares of the business’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $5.65, for a total value of $29,685.10. Following the sale, the chief financial officer now owns 31,203 shares of the company’s stock, valued at approximately $176,296.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Sameer Gulati sold 125,555 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $5.64, for a total value of $708,130.20. Following the completion of the sale, the chief operating officer now directly owns 121,898 shares in the company, valued at approximately $687,504.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 283,179 shares of company stock worth $1,612,935. 11.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in LC. Cubist Systematic Strategies LLC raised its stake in shares of LendingClub Corporation by 914.4% in the second quarter. Cubist Systematic Strategies LLC now owns 57,818 shares of the credit services provider’s stock valued at $319,000 after buying an additional 52,118 shares in the last quarter. State Street Corp raised its stake in shares of LendingClub Corporation by 5.3% in the second quarter. State Street Corp now owns 6,461,593 shares of the credit services provider’s stock valued at $35,602,000 after buying an additional 323,373 shares in the last quarter. Fred Alger Management Inc. raised its stake in shares of LendingClub Corporation by 5.8% in the second quarter. Fred Alger Management Inc. now owns 12,337,744 shares of the credit services provider’s stock valued at $67,981,000 after buying an additional 681,192 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of LendingClub Corporation during the second quarter valued at approximately $398,000. Finally, PDT Partners LLC bought a new stake in shares of LendingClub Corporation during the second quarter valued at approximately $10,632,000. 91.72% of the stock is currently owned by institutional investors and hedge funds.
LendingClub Corporation Company Profile
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.
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