Needham & Company LLC Lowers LendingTree (NASDAQ:TREE) Price Target to $62.00


LendingTree (NASDAQ:TREE – Get Rating) had its target price decreased by Needham & Company LLC from $105.00 to $62.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The firm currently has a “buy” rating on the financial services provider’s stock. Needham & Company LLC’s target price indicates a potential upside of 23.33% from the company’s previous close.

Several other research firms also recently weighed in on TREE. Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 price target on shares of LendingTree in a research note on Monday, March 28th. Susquehanna decreased their target price on shares of LendingTree from $180.00 to $160.00 in a research report on Friday, May 6th. William Blair reissued an “outperform” rating on shares of LendingTree in a research report on Friday, June 3rd. StockNews.com started coverage on shares of LendingTree in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Trust Financial decreased their target price on shares of LendingTree from $185.00 to $130.00 and set a “buy” rating for the company in a research report on Friday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, LendingTree has an average rating of “Moderate Buy” and an average target price of $149.50.

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LendingTree stock traded down $4.60 during mid-day trading on Friday, reaching $50.27. The company had a trading volume of 15,536 shares, compared to its average volume of 184,428. LendingTree has a fifty-two week low of $48.32 and a fifty-two week high of $228.81. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.66. The company has a market cap of $641.95 million, a P/E ratio of 17.76 and a beta of 1.62. The business has a fifty day simple moving average of $68.69 and a 200 day simple moving average of $100.95.

LendingTree (NASDAQ:TREE – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The financial services provider reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates ($1.02) by $0.40. The company had revenue of $283.18 million for the quarter, compared to analyst estimates of $283.65 million. LendingTree had a net margin of 3.54% and a negative return on equity of 4.84%. LendingTree’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. Research analysts forecast that LendingTree will post -2.07 EPS for the current year.

In related news, Director Mark A. Ernst purchased 10,000 shares of the firm’s stock in a transaction dated Monday, May 9th. The shares were purchased at an average price of $65.67 per share, with a total value of $656,700.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $656,700. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC lifted its position in shares of LendingTree by 4,176.9% in the 1st quarter. Signaturefd LLC now owns 556 shares of the financial services provider shares’s stock worth $67,000 after purchasing an additional 543 during the period. Acadian Asset Management LLC bought a new position in shares of LendingTree in the 1st quarter worth about $99,000. Wolverine Asset Management LLC bought a new position in shares of LendingTree in the 1st quarter worth about $203,000. AlphaCrest Capital Management LLC increased its stake in shares of LendingTree by 8.5% in the 4th quarter. AlphaCrest Capital Management LLC now owns 1,839 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 144 shares in the last quarter. Finally, Inspire Investing LLC bought a new position in shares of LendingTree in the 1st quarter worth about $235,000. 86.31% of the stock is owned by institutional investors and hedge funds.

About LendingTree (Get Rating)

LendingTree, Inc, through its subsidiary, LT Intermediate Company, LLC, 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, reverse mortgage, and home equity loans; lines of credit; and real estate brokerage services.

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