LendingTree (NASDAQ:TREE) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of LendingTree (NASDAQ:TREE) from a hold rating to a buy rating in a research note published on Friday.

Several other research analysts have also issued reports on TREE. Susquehanna upped their target price on shares of LendingTree from $42.00 to $50.00 and gave the stock a neutral rating in a research report on Friday, July 26th. Oppenheimer increased their price objective on LendingTree from $55.00 to $65.00 and gave the company an outperform rating in a research report on Tuesday, July 30th. Stephens boosted their target price on LendingTree from $55.00 to $65.00 and gave the stock an overweight rating in a research report on Monday, July 29th. Truist Financial increased their price target on shares of LendingTree from $55.00 to $60.00 and gave the company a buy rating in a research report on Friday, July 26th. Finally, Needham & Company LLC boosted their price objective on shares of LendingTree from $56.00 to $67.00 and gave the stock a buy rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $58.13.

LendingTree Price Performance

Shares of NASDAQ TREE opened at $60.10 on Friday. The stock’s 50-day simple moving average is $52.83 and its two-hundred day simple moving average is $45.67. LendingTree has a twelve month low of $10.12 and a twelve month high of $62.27. The firm has a market capitalization of $801.73 million, a P/E ratio of -5.79 and a beta of 2.12. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 3.21.

LendingTree (NASDAQ:TREE) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.19). LendingTree had a negative return on equity of 2.98% and a negative net margin of 19.02%. The company had revenue of $210.10 million during the quarter, compared to the consensus estimate of $187.41 million. During the same quarter last year, the company posted $0.43 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, equities analysts anticipate that LendingTree will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On LendingTree

Hedge funds have recently modified their holdings of the company. Hennessy Advisors Inc. bought a new stake in shares of LendingTree in the second quarter worth about $8,380,000. Blue Grotto Capital LLC purchased a new position in shares of LendingTree during the fourth quarter valued at approximately $4,930,000. Acadian Asset Management LLC raised its holdings in shares of LendingTree by 53.9% during the first quarter. Acadian Asset Management LLC now owns 256,719 shares of the financial services provider’s stock valued at $10,868,000 after acquiring an additional 89,900 shares in the last quarter. Alta Park Capital LP bought a new stake in LendingTree in the fourth quarter valued at $2,297,000. Finally, Renaissance Technologies LLC boosted its holdings in LendingTree by 25.0% in the second quarter. Renaissance Technologies LLC now owns 292,900 shares of the financial services provider’s stock valued at $12,182,000 after acquiring an additional 58,500 shares in the last quarter. Hedge funds and other institutional investors own 68.26% of the company’s stock.

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.