LendingTree (NASDAQ:TREE) Price Target Raised to $67.00

LendingTree (NASDAQ:TREE) had its price target boosted by Needham & Company LLC from $56.00 to $67.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other research firms have also recently weighed in on TREE. Keefe, Bruyette & Woods upped their price objective on shares of LendingTree from $45.00 to $60.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. Oppenheimer raised their price target on shares of LendingTree from $45.00 to $55.00 and gave the company an outperform rating in a research note on Wednesday, May 1st. Stephens reiterated an overweight rating and set a $55.00 price objective on shares of LendingTree in a research note on Thursday, June 20th. Truist Financial reissued a buy rating and set a $55.00 target price (up previously from $37.00) on shares of LendingTree in a report on Wednesday, May 1st. Finally, StockNews.com raised LendingTree from a hold rating to a buy rating in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $55.63.

LendingTree Price Performance

NASDAQ TREE opened at $55.72 on Friday. The firm’s fifty day simple moving average is $44.77 and its two-hundred day simple moving average is $40.22. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 4.80. LendingTree has a 12-month low of $10.12 and a 12-month high of $59.00.

LendingTree (NASDAQ:TREE) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.36. The firm had revenue of $167.80 million for the quarter, compared to analyst estimates of $164.03 million. LendingTree had a negative net margin of 19.02% and a negative return on equity of 3.15%. On average, sell-side analysts expect that LendingTree will post -0.01 EPS for the current year.

Insiders Place Their Bets

In other LendingTree news, General Counsel Heather Novitsky sold 2,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $49.08, for a total value of $98,160.00. Following the completion of the sale, the general counsel now directly owns 564 shares in the company, valued at approximately $27,681.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other LendingTree news, General Counsel Heather Novitsky sold 2,000 shares of LendingTree stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $49.08, for a total transaction of $98,160.00. Following the transaction, the general counsel now directly owns 564 shares of the company’s stock, valued at $27,681.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gabriel Dalporto sold 1,442 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $50.17, for a total transaction of $72,345.14. Following the completion of the sale, the director now directly owns 4,478 shares of the company’s stock, valued at approximately $224,661.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,802 shares of company stock valued at $673,219. Insiders own 23.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its stake in shares of LendingTree by 230.8% in the 2nd quarter. CWM LLC now owns 602 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 420 shares during the last quarter. Headlands Technologies LLC increased its position in shares of LendingTree by 16.8% during the 1st quarter. Headlands Technologies LLC now owns 1,881 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 270 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in LendingTree by 78.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,995 shares of the financial services provider’s stock valued at $91,000 after buying an additional 1,321 shares during the period. Quest Partners LLC acquired a new position in LendingTree in the fourth quarter valued at about $103,000. Finally, Bristlecone Advisors LLC acquired a new stake in shares of LendingTree during the fourth quarter valued at about $201,000. 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.