LendingTree (NASDAQ:TREE) Shares Gap Up – What’s Next?

Shares of LendingTree, Inc. (NASDAQ:TREE) gapped up prior to trading on Wednesday. The stock had previously closed at $28.87, but opened at $31.63. LendingTree shares last traded at $37.3950, with a volume of 510,459 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TREE shares. Weiss Ratings reissued a “hold (c)” rating on shares of LendingTree in a report on Monday, September 21st. Keefe, Bruyette & Woods reduced their price objective on LendingTree from $70.00 to $58.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Northland Securities set a $60.00 price objective on LendingTree in a research note on Thursday, July 30th. Truist Financial dropped their target price on LendingTree from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Wall Street Zen cut LendingTree from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.60.

LendingTree Stock Performance

The stock has a fifty day moving average price of $26.71 and a two-hundred day moving average price of $37.69. The company has a market cap of $527.36 million, a P/E ratio of 5.38 and a beta of 1.99. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.57 and a quick ratio of 1.85.

LendingTree (NASDAQ:TREE) last issued its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported ($5.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($6.41). LendingTree had a return on equity of 15.92% and a net margin of 7.60%. The business had revenue of $343.59 million during the quarter, compared to the consensus estimate of $329.72 million. During the same period last year, the company earned $1.70 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that LendingTree, Inc. will post 3.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TREE. BlackRock Inc. bought a new position in LendingTree during the 2nd quarter valued at $54,329,000. Punch & Associates Investment Management Inc. bought a new stake in shares of LendingTree in the 2nd quarter worth $32,140,000. Jennison Associates LLC raised its stake in shares of LendingTree by 74.0% in the 1st quarter. Jennison Associates LLC now owns 1,020,211 shares of the financial services provider’s stock worth $43,747,000 after buying an additional 434,038 shares in the last quarter. S Squared Technology LLC bought a new stake in shares of LendingTree in the 2nd quarter worth $4,795,190. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of LendingTree by 33.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 274,366 shares of the financial services provider’s stock valued at $11,765,000 after buying an additional 68,466 shares during the period. 68.26% of the stock is owned by institutional investors and hedge funds.

About LendingTree

LendingTree, Inc operates an online marketplace that helps consumers compare financial products and services from a network of lenders, insurers and other providers. Its platform is designed to connect shoppers with potential offers based on their financial needs and preferences.

The company’s marketplace includes products such as mortgages and other home loans, personal loans, business loans, auto loans, credit cards, insurance and deposit accounts. LendingTree also provides educational content, comparison tools and financial guidance intended to help consumers evaluate borrowing, insurance and saving options.

Founded in 1996 by Doug Lebda, LendingTree is headquartered in Charlotte, North Carolina, and primarily serves consumers in the United States.