LendingClub (NYSE:LC) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports.

A number of other analysts have also issued reports on LC. Morgan Stanley lowered their target price on shares of LendingClub from $14.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 14th. UBS Group lowered their target price on shares of LendingClub from $10.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Wedbush reissued an “outperform” rating and set a $8.00 target price (down from $25.00) on shares of LendingClub in a research note on Monday, June 1st. Maxim Group lowered shares of LendingClub from a “buy” rating to a “hold” rating in a research note on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of LendingClub from $10.00 to $7.00 and set a “market perform” rating for the company in a research note on Thursday, May 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $11.84.

Shares of NYSE:LC opened at $4.83 on Thursday. The firm has a market capitalization of $340.27 million, a PE ratio of -3.96 and a beta of 1.11. The business has a 50 day simple moving average of $5.30 and a two-hundred day simple moving average of $8.84. LendingClub has a 1 year low of $4.32 and a 1 year high of $16.50. The company has a debt-to-equity ratio of 2.03, a current ratio of 5.78 and a quick ratio of 3.78.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, May 5th. The credit services provider reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.40). LendingClub had a negative return on equity of 2.94% and a negative net margin of 8.36%. The business had revenue of $120.20 million for the quarter, compared to the consensus estimate of $174.66 million. During the same period in the prior year, the business posted ($0.13) earnings per share. LendingClub’s revenue was down 31.1% on a year-over-year basis. Equities research analysts expect that LendingClub will post -1.47 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in LC. Morgan Stanley raised its holdings in LendingClub by 146.0% in the first quarter. Morgan Stanley now owns 5,828,367 shares of the credit services provider’s stock worth $45,752,000 after purchasing an additional 3,458,720 shares in the last quarter. Norges Bank bought a new position in LendingClub in the fourth quarter worth about $8,935,000. Nikko Asset Management Americas Inc. increased its holdings in shares of LendingClub by 9.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 6,417,106 shares of the credit services provider’s stock valued at $50,374,000 after acquiring an additional 564,678 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of LendingClub by 9.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,417,106 shares of the credit services provider’s stock valued at $50,374,000 after acquiring an additional 564,678 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of LendingClub by 766.0% during the first quarter. JPMorgan Chase & Co. now owns 328,498 shares of the credit services provider’s stock valued at $2,578,000 after acquiring an additional 290,565 shares in the last quarter. Institutional investors and hedge funds own 90.58% of the company’s stock.

About LendingClub

LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.

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Analyst Recommendations for LendingClub (NYSE:LC)

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