LendingTree (NASDAQ:TREE) Price Target Cut to $200.00 by Analysts at Northland Securities

LendingTree (NASDAQ:TREE) had its price target reduced by investment analysts at Northland Securities from $225.00 to $200.00 in a research note issued to investors on Thursday, PriceTargets.com reports. The brokerage presently has an “underperform” rating on the financial services provider’s stock. Northland Securities’ price objective would suggest a potential downside of 12.56% from the company’s current price.

A number of other research firms also recently issued reports on TREE. JPMorgan Chase & Co. increased their price objective on LendingTree from $330.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, March 1st. Deutsche Bank Aktiengesellschaft increased their price objective on LendingTree from $360.00 to $365.00 and gave the stock a “buy” rating in a report on Wednesday, January 13th. Finally, Truist decreased their price objective on LendingTree from $335.00 to $350.00 in a report on Thursday, February 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. LendingTree currently has an average rating of “Buy” and an average price target of $311.31.

TREE stock traded up $1.06 on Thursday, reaching $228.73. The company’s stock had a trading volume of 9,824 shares, compared to its average volume of 279,408. The business has a fifty day simple moving average of $239.20 and a two-hundred day simple moving average of $287.49. LendingTree has a 12-month low of $175.01 and a 12-month high of $372.64. The firm has a market cap of $3.00 billion, a PE ratio of -76.11 and a beta of 1.75. The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.29 and a current ratio of 2.29.

LendingTree (NASDAQ:TREE) last announced its quarterly earnings results on Thursday, February 25th. The financial services provider reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.69. LendingTree had a negative return on equity of 1.85% and a negative net margin of 4.05%. The company had revenue of $222.33 million during the quarter, compared to analyst estimates of $221.30 million. As a group, research analysts anticipate that LendingTree will post -2.65 earnings per share for the current fiscal year.

In related news, President Neil Salvage sold 1,100 shares of LendingTree stock in a transaction dated Friday, March 5th. The stock was sold at an average price of $239.00, for a total value of $262,900.00. Following the completion of the sale, the president now directly owns 5,004 shares in the company, valued at approximately $1,195,956. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director G Kennedy Thompson acquired 3,500 shares of LendingTree stock in a transaction that occurred on Friday, February 26th. The stock was acquired at an average price of $276.21 per share, with a total value of $966,735.00. Following the completion of the acquisition, the director now directly owns 4,845 shares in the company, valued at approximately $1,338,237.45. The disclosure for this purchase can be found here. 17.90% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in LendingTree by 15.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,141,653 shares of the financial services provider’s stock worth $312,573,000 after buying an additional 150,070 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in LendingTree by 15.4% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,141,653 shares of the financial services provider’s stock worth $312,573,000 after buying an additional 152,651 shares in the last quarter. BlackRock Inc. boosted its position in LendingTree by 45.3% in the fourth quarter. BlackRock Inc. now owns 1,016,389 shares of the financial services provider’s stock worth $278,276,000 after purchasing an additional 316,744 shares during the last quarter. Norges Bank purchased a new position in LendingTree in the fourth quarter worth about $26,713,000. Finally, Northern Trust Corp boosted its position in LendingTree by 31.4% in the fourth quarter. Northern Trust Corp now owns 85,762 shares of the financial services provider’s stock worth $23,480,000 after purchasing an additional 20,515 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

About LendingTree

LendingTree, Inc, through its subsidiary, LT Intermediate Company, LLC, 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, reverse mortgage, and home equity loans; lines of credit; and real estate brokerage services.

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Analyst Recommendations for LendingTree (NASDAQ:TREE)

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