LendingClub (NYSE:LC) Rating Increased to Buy at Zacks Investment Research

LendingClub (NYSE:LC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The firm currently has a $14.00 price objective on the credit services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 9.89% from the company’s previous close.

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. “

Several other equities analysts also recently commented on the company. BTIG Research cut their target price on LendingClub from $30.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, October 14th. ValuEngine upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Maxim Group reiterated a “buy” rating and issued a $23.00 price target on shares of LendingClub in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $20.40.

NYSE:LC opened at $12.74 on Friday. The firm has a market capitalization of $1.22 billion, a PE ratio of -36.40 and a beta of 1.62. The company has a quick ratio of 4.20, a current ratio of 5.93 and a debt-to-equity ratio of 1.97. LendingClub has a 12-month low of $10.89 and a 12-month high of $18.85. The firm has a 50-day moving average price of $13.32 and a 200 day moving average price of $11.00.

LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, November 5th. The credit services provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. LendingClub had a negative return on equity of 1.02% and a negative net margin of 5.91%. The company had revenue of $204.90 million for the quarter, compared to the consensus estimate of $204.63 million. During the same period in the previous year, the business earned $0.03 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. On average, research analysts expect that LendingClub will post -0.04 EPS for the current year.

In other LendingClub news, insider Valerie Kay sold 1,900 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $14.54, for a total transaction of $27,626.00. Following the sale, the insider now directly owns 53,565 shares of the company’s stock, valued at $778,835.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Timothy Bogan sold 10,463 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $14.34, for a total transaction of $150,039.42. Following the sale, the insider now directly owns 59,541 shares of the company’s stock, valued at approximately $853,817.94. The disclosure for this sale can be found here. Insiders have sold a total of 35,688 shares of company stock valued at $595,700 in the last quarter. 4.20% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Aperio Group LLC acquired a new stake in LendingClub during the 2nd quarter valued at $32,000. Tower Research Capital LLC TRC acquired a new stake in shares of LendingClub in the third quarter valued at $33,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in LendingClub during the 2nd quarter worth about $54,000. Mizuho Securities Co. Ltd. acquired a new stake in LendingClub in the 2nd quarter valued at about $66,000. Finally, Prudential Financial Inc. raised its stake in shares of LendingClub by 9.0% in the second quarter. Prudential Financial Inc. now owns 23,470 shares of the credit services provider’s stock worth $77,000 after acquiring an additional 1,930 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

About LendingClub

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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