Zacks Investment Research upgraded shares of LendingClub (NYSE:LC) from a hold rating to a buy rating in a research report report published on Friday morning, Zacks.com reports. They currently have $15.00 price target on the credit services provider’s stock.
According to Zacks, “LendingClub Corporation provides internet financial services. The Company offers online marketplace for loan approval, pricing, servicing and support operations as well as regulatory and legal framework which connects borrowers and investors. LendingClub Corporation is headquartered in San Francisco, California. “
Separately, Maxim Group decreased their target price on LendingClub from $23.00 to $20.00 and set a buy rating for the company in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $20.00.
LendingClub stock opened at $11.87 on Friday. The firm has a market capitalization of $1.16 billion, a P/E ratio of -32.08 and a beta of 1.51. LendingClub has a 1 year low of $10.89 and a 1 year high of $18.85. The business has a 50-day moving average of $12.39 and a 200-day moving average of $13.05. The company has a current ratio of 7.79, a quick ratio of 5.39 and a debt-to-equity ratio of 1.98.
LendingClub (NYSE:LC) last posted its earnings results on Tuesday, February 18th. The credit services provider reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.04. The company had revenue of $188.50 million during the quarter, compared to analyst estimates of $198.84 million. LendingClub had a positive return on equity of 0.25% and a negative net margin of 4.05%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) EPS. Research analysts anticipate that LendingClub will post 0.3 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of LC. Tower Research Capital LLC TRC acquired a new position in shares of LendingClub in the 3rd quarter valued at approximately $33,000. Great West Life Assurance Co. Can acquired a new position in shares of LendingClub in the 4th quarter valued at approximately $54,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of LendingClub by 30.1% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,732 shares of the credit services provider’s stock valued at $58,000 after purchasing an additional 1,094 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of LendingClub in the 3rd quarter valued at approximately $98,000. Finally, Bank of Montreal Can grew its position in shares of LendingClub by 27.4% in the 4th quarter. Bank of Montreal Can now owns 8,515 shares of the credit services provider’s stock valued at $108,000 after purchasing an additional 1,832 shares during the period. Institutional investors and hedge funds own 91.11% of the company’s stock.
LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.
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