Needham & Company LLC Cuts LendingTree (NASDAQ:TREE) Price Target to $65.00

LendingTree (NASDAQ:TREE) had its price objective trimmed by Needham & Company LLC from $78.00 to $65.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on TREE. Northland Capmk upgraded LendingTree from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. StockNews.com raised LendingTree from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, 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 report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, LendingTree currently has a consensus rating of “Buy” and an average price target of $65.75.

LendingTree Price Performance

Shares of TREE stock opened at $48.62 on Thursday. LendingTree has a twelve month low of $33.58 and a twelve month high of $62.49. The stock has a market capitalization of $649.66 million, a price-to-earnings ratio of -18.01 and a beta of 2.14. The stock has a fifty day simple moving average of $42.38 and a two-hundred day simple moving average of $47.72. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.67.

Institutional Investors Weigh In On LendingTree

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TREE. National Bank of Canada FI purchased a new position in shares of LendingTree in the third quarter worth about $32,000. New Age Alpha Advisors LLC purchased a new position in shares of LendingTree in the fourth quarter worth about $36,000. Point72 DIFC Ltd grew its holdings in LendingTree by 77.0% during the third quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 499 shares during the period. Tower Research Capital LLC TRC grew its holdings in LendingTree by 248.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,190 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 848 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in LendingTree during the fourth quarter worth about $54,000. 68.26% of the stock is currently owned by hedge funds and other institutional investors.

About LendingTree

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.