LendingTree (NASDAQ:TREE) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of LendingTree (NASDAQ:TREE) from a hold rating to a buy rating in a report issued on Saturday morning.

Other equities research analysts also recently issued reports about the stock. Truist Financial reduced their price target on shares of LendingTree from $78.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Northland Securities set a $60.00 target price on shares of LendingTree in a report on Thursday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of LendingTree in a research note on Wednesday, June 24th. Keefe, Bruyette & Woods lowered their price target on LendingTree from $70.00 to $58.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Finally, Needham & Company LLC lowered their price target on LendingTree from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, LendingTree currently has an average rating of “Moderate Buy” and a consensus target price of $61.33.

LendingTree Stock Up 2.4%

Shares of NASDAQ:TREE opened at $28.96 on Friday. The business has a 50-day moving average price of $37.78 and a 200 day moving average price of $39.64. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $406.60 million, a price-to-earnings ratio of 2.24 and a beta of 2.04. LendingTree has a 12-month low of $27.70 and a 12-month high of $77.35.

LendingTree (NASDAQ:TREE) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.73). The company had revenue of $313.42 million during the quarter, compared to analysts’ expectations of $315.56 million. LendingTree had a net margin of 14.33% and a return on equity of 14.57%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. Sell-side analysts expect that LendingTree will post 3.49 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TREE. Fifth Third Bancorp purchased a new stake in shares of LendingTree in the 4th quarter valued at approximately $32,000. OP Asset Management Ltd purchased a new stake in shares of LendingTree during the 1st quarter worth $34,000. New York State Teachers Retirement System acquired a new position in shares of LendingTree during the fourth quarter worth $54,000. McIlrath & Eck LLC acquired a new position in shares of LendingTree during the fourth quarter worth $59,000. Finally, Tower Research Capital LLC TRC increased its holdings in LendingTree by 281.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,120 shares of the financial services provider’s stock valued at $42,000 after buying an additional 826 shares during the last quarter. Institutional investors and hedge funds own 68.26% of the company’s stock.

About LendingTree

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.