SunTrust Robinson analyst Youssef Squali maintained a Hold rating on Lendingtree Inc (TREE – Research Report) yesterday and set a price target of $260. The company’s shares closed yesterday at $261.92.
“We attended LendingTree’s annual investor day on 12/4, an event at which a deep-benched mgt did a good job diving into the company’s different segments, long-term goals and strategy, and detailed how it’s handling short-term macro head winds through diversification and focus on profitable growth. We’re tweaking our estimates and PT (to $260 from $265) to reflect greater pressure on mortgage revenue from rising rates and higher brand spend to position LendingTree as a holistic market place (vs. a mortgage platform). We believe the long-term thesis remains intact. Below are our top 6 takeaways. We heard from members of the executive suite including the IR/Treasurer as well as the founder and CEO of its latest acquisition, QuoteWizard.”
According to TipRanks.com, Squali is a top 100 analyst with an average return of 19.1% and a 64.9% success rate. Squali covers the Technology sector, focusing on stocks such as Cardlytics Inc, Eventbrite Inc, and Alphabet Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lendingtree Inc with a $292.60 average price target.
Lendingtree Inc’s market cap is currently $3.39B and has a P/E ratio of 41.26. The company has a Price to Book ratio of 9.02.
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LendingTree, Inc. engages in the operation of online loan marketplace for consumers seeking loans and other credit-based offerings. It provides mortgage loans, home equity, reverse mortgage, auto loans, credit cards, personal loans, student loans, and small business loans.