LendingClub (LC) Projected to Post Quarterly Earnings on Tuesday

LendingClub (NYSE:LC) is projected to issue its quarterly earnings data after the market closes on Tuesday, February 4th. Analysts expect the company to announce earnings of $0.09 per share and revenue of $206,430.00 billion for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

LendingClub Price Performance

LC stock opened at $16.70 on Tuesday. The firm has a fifty day moving average price of $16.31 and a two-hundred day moving average price of $13.43. LendingClub has a 1-year low of $7.48 and a 1-year high of $18.75. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 36.30 and a beta of 2.03.

Insider Buying and Selling at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total transaction of $274,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at approximately $21,152,406.08. This trade represents a 1.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Jordan Cheng sold 22,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the sale, the general counsel now owns 89,385 shares of the company’s stock, valued at approximately $1,325,579.55. This trade represents a 19.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,000 shares of company stock valued at $1,122,710. Company insiders own 3.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LC. Maxim Group increased their price objective on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wedbush raised their price target on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 price objective (up from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Compass Point raised their target price on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Piper Sandler upped their price target on shares of LendingClub from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.63.

About LendingClub

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.