Needham & Company LLC Increases LendingTree (NASDAQ:TREE) Price Target to $56.00

LendingTree (NASDAQ:TREE) had its price target lifted by Needham & Company LLC from $40.00 to $56.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. StockNews.com downgraded LendingTree from a buy rating to a hold rating in a research note on Monday, March 25th. Oppenheimer boosted their price objective on LendingTree from $25.00 to $45.00 and gave the stock an outperform rating in a research report on Monday, January 8th. Keefe, Bruyette & Woods raised LendingTree from a market perform rating to an outperform rating and raised their target price for the company from $24.00 to $45.00 in a research report on Wednesday, February 28th. Truist Financial boosted their price target on shares of LendingTree from $24.00 to $37.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Finally, Susquehanna raised their price objective on shares of LendingTree from $15.00 to $27.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, LendingTree presently has an average rating of Moderate Buy and a consensus target price of $48.50.

LendingTree Price Performance

Shares of NASDAQ:TREE opened at $49.41 on Tuesday. The company has a current ratio of 3.71, a quick ratio of 2.60 and a debt-to-equity ratio of 4.80. The stock has a market cap of $653.45 million, a PE ratio of -4.76 and a beta of 2.10. The stock’s fifty day simple moving average is $39.52 and its two-hundred day simple moving average is $29.88. LendingTree has a 1-year low of $10.12 and a 1-year high of $51.72.

LendingTree (NASDAQ:TREE) last released its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.14. LendingTree had a negative net margin of 21.07% and a positive return on equity of 1.34%. The company had revenue of $134.40 million for the quarter, compared to analyst estimates of $135.55 million. During the same period last year, the firm earned ($0.53) earnings per share. As a group, analysts forecast that LendingTree will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Wealth Management LLC bought a new stake in LendingTree in the 4th quarter valued at about $252,000. Acadian Asset Management LLC raised its position in shares of LendingTree by 21.2% in the third quarter. Acadian Asset Management LLC now owns 90,014 shares of the financial services provider’s stock valued at $1,393,000 after purchasing an additional 15,765 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of LendingTree by 26.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 189,846 shares of the financial services provider’s stock valued at $2,943,000 after buying an additional 39,745 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in LendingTree by 0.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 345,292 shares of the financial services provider’s stock worth $5,352,000 after buying an additional 2,952 shares during the period. Finally, Shenkman Capital Management Inc. purchased a new position in LendingTree in the 3rd quarter valued at approximately $1,860,000. Institutional investors own 68.26% of the company’s stock.

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.