LendingTree, Inc. (TREE) Given New $250.00 Price Target at Royal Bank Of Canada
LendingTree, Inc. (NASDAQ:TREE) had its price target increased by Royal Bank Of Canada from $160.00 to $250.00 in a research note released on Friday morning, MarketBeat Ratings reports. Royal Bank Of Canada currently has an outperform rating on the financial services provider’s stock.
A number of other equities research analysts also recently issued reports on TREE. Oppenheimer Holdings, Inc. reiterated an outperform rating and issued a $160.00 price objective (up previously from $140.00) on shares of LendingTree in a research report on Monday, May 1st. William Blair started coverage on LendingTree in a research report on Wednesday, June 21st. They issued an outperform rating and a $173.00 price objective on the stock. Needham & Company LLC reiterated a buy rating and issued a $250.00 price objective (up previously from $200.00) on shares of LendingTree in a research report on Thursday, July 27th. CIBC increased their price objective on LendingTree from $140.00 to $160.00 and gave the stock an outperform rating in a research report on Tuesday, May 2nd. Finally, Northland Securities reiterated a buy rating and issued a $150.00 price objective on shares of LendingTree in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $178.07.
LendingTree (TREE) opened at 220.60 on Friday. The stock has a 50 day moving average price of $178.58 and a 200 day moving average price of $141.47. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 102.99 and a beta of 1.54. LendingTree has a 52 week low of $75.05 and a 52 week high of $225.15.
LendingTree (NASDAQ:TREE) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.17. The firm had revenue of $152.80 million for the quarter, compared to the consensus estimate of $135.48 million. LendingTree had a return on equity of 17.01% and a net margin of 5.85%. The business’s quarterly revenue was up 62.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 earnings per share. On average, equities analysts forecast that LendingTree will post $3.71 earnings per share for the current year.
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In related news, CEO Douglas R. Lebda sold 8,000 shares of the stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $179.26, for a total value of $1,434,080.00. Following the transaction, the chief executive officer now owns 509,506 shares of the company’s stock, valued at $91,334,045.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Interactive Corp Liberty bought 450,000 shares of LendingTree stock in a transaction that occurred on Tuesday, June 6th. The stock was purchased at an average cost of $170.70 per share, for a total transaction of $76,815,000.00. The disclosure for this purchase can be found here. In the last three months, insiders sold 147,250 shares of company stock worth $22,751,121. 21.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TREE. BlackRock Inc. boosted its position in LendingTree by 117,777.8% in the first quarter. BlackRock Inc. now owns 823,966 shares of the financial services provider’s stock worth $103,284,000 after buying an additional 823,267 shares in the last quarter. Victory Capital Management Inc. boosted its position in LendingTree by 19.1% in the first quarter. Victory Capital Management Inc. now owns 607,253 shares of the financial services provider’s stock worth $76,119,000 after buying an additional 97,351 shares in the last quarter. Vanguard Group Inc. boosted its position in LendingTree by 5.8% in the first quarter. Vanguard Group Inc. now owns 368,264 shares of the financial services provider’s stock worth $46,161,000 after buying an additional 20,330 shares in the last quarter. Macquarie Group Ltd. boosted its position in LendingTree by 6.0% in the first quarter. Macquarie Group Ltd. now owns 292,004 shares of the financial services provider’s stock worth $36,603,000 after buying an additional 16,425 shares in the last quarter. Finally, Emerald Advisers Inc. PA boosted its position in LendingTree by 3.4% in the second quarter. Emerald Advisers Inc. PA now owns 287,861 shares of the financial services provider’s stock worth $49,570,000 after buying an additional 9,580 shares in the last quarter. 76.37% of the stock is currently owned by institutional investors and hedge funds.
LendingTree, Inc (LendingTree) is engaged in operating an online loan marketplace for consumers seeking loans and other credit-based offerings. The Company’s online marketplace provides consumers with access to product offerings from various lenders, which it refers to as Network Lenders, including mortgage loans, home equity loans and lines of credit, reverse mortgage loans, auto loans, credit cards, personal loans, student loans, small business loans and other related offerings.
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