Truist Financial Has Lowered Expectations for LendingTree (NASDAQ:TREE) Stock Price

LendingTree (NASDAQ:TREE) had its price target decreased by investment analysts at Truist Financial from $72.00 to $60.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target would indicate a potential upside of 62.51% from the company’s previous close.

TREE has been the topic of several other research reports. JPMorgan Chase & Co. upped their price objective on shares of LendingTree from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Keefe, Bruyette & Woods lowered their target price on LendingTree from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Northland Securities raised LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research note on Tuesday, January 21st. Needham & Company LLC lowered their price target on LendingTree from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Finally, Northland Capmk upgraded shares of LendingTree from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 21st. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $64.13.

LendingTree Stock Down 6.6 %

Shares of NASDAQ:TREE opened at $36.92 on Monday. The firm has a 50 day simple moving average of $46.84 and a 200 day simple moving average of $44.90. LendingTree has a 52 week low of $34.55 and a 52 week high of $62.49. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $499.71 million, a PE ratio of -13.67 and a beta of 1.76.

LendingTree (NASDAQ:TREE) last released its earnings results on Thursday, May 1st. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.25. The company had revenue of $239.70 million during the quarter, compared to analyst estimates of $244.93 million. LendingTree had a positive return on equity of 0.51% and a negative net margin of 4.72%. The company’s revenue was up 42.8% compared to the same quarter last year. As a group, research analysts expect that LendingTree will post 0.48 earnings per share for the current year.

Insider Activity at LendingTree

In related news, COO Scott Peyree purchased 21,045 shares of LendingTree stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $41.69 per share, with a total value of $877,366.05. Following the acquisition, the chief operating officer now directly owns 76,760 shares in the company, valued at approximately $3,200,124.40. This trade represents a 37.77 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 23.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LendingTree

Institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in LendingTree in the 4th quarter valued at approximately $956,000. Raymond James Financial Inc. acquired a new position in shares of LendingTree in the fourth quarter valued at $1,254,000. Asset Management One Co. Ltd. lifted its position in LendingTree by 101.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,027 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 1,021 shares during the period. Versor Investments LP acquired a new stake in LendingTree during the fourth quarter worth $298,000. Finally, Barclays PLC boosted its stake in LendingTree by 199.2% during the fourth quarter. Barclays PLC now owns 64,056 shares of the financial services provider’s stock worth $2,482,000 after buying an additional 42,647 shares in the last quarter. 68.26% of the stock is owned by institutional investors and hedge funds.

LendingTree Company Profile

LendingTree, Inc, through its subsidiary, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, and home equity loans and lines of credit; and real estate brokerage services.