LendingTree, Inc. (NASDAQ:TREE) Receives $61.33 Average Price Target from Brokerages

LendingTree, Inc. (NASDAQ:TREE) has received an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $61.3333.

A number of analysts recently weighed in on TREE shares. Truist Financial dropped their target price on LendingTree from $78.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Northland Securities set a $60.00 price objective on LendingTree in a research note on Thursday, July 30th. Zacks Research cut LendingTree from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. initiated coverage on LendingTree in a report on Tuesday, April 14th. They issued an “overweight” rating and a $50.00 price objective on the stock. Finally, Keefe, Bruyette & Woods decreased their price target on LendingTree from $70.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th.

Institutional Investors Weigh In On LendingTree

Several institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC bought a new position in LendingTree during the 4th quarter valued at approximately $31,120,000. Ameriprise Financial Inc. grew its position in shares of LendingTree by 1,747.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 546,536 shares of the financial services provider’s stock worth $20,260,000 after buying an additional 516,958 shares during the last quarter. Mariner LLC increased its stake in shares of LendingTree by 31.5% during the fourth quarter. Mariner LLC now owns 1,760,407 shares of the financial services provider’s stock valued at $93,461,000 after buying an additional 421,826 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of LendingTree by 1,163.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 263,835 shares of the financial services provider’s stock valued at $17,078,000 after buying an additional 242,947 shares during the period. Finally, Blue Grotto Capital LLC raised its holdings in shares of LendingTree by 64.3% during the fourth quarter. Blue Grotto Capital LLC now owns 584,931 shares of the financial services provider’s stock valued at $31,054,000 after acquiring an additional 228,858 shares in the last quarter. Hedge funds and other institutional investors own 68.26% of the company’s stock.

LendingTree Trading Up 0.1%

Shares of LendingTree stock opened at $33.81 on Friday. The company has a 50 day simple moving average of $39.88 and a two-hundred day simple moving average of $42.74. The firm has a market cap of $474.69 million, a PE ratio of 2.62 and a beta of 2.04. LendingTree has a 1 year low of $29.77 and a 1 year high of $77.35. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.85 and a quick ratio of 1.89.

LendingTree Company Profile

LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.

Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.