LendingClub (NYSE:LC) had its target price decreased by investment analysts at Wedbush from $40.00 to $35.00 in a report issued on Thursday, The Fly reports. Wedbush’s price target suggests a potential upside of 55.56% from the stock’s current price.
LC has been the topic of several other research reports. Compass Point upgraded shares of LendingClub from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $55.00 in a research note on Thursday, October 28th. Janney Montgomery Scott upgraded shares of LendingClub from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Wednesday, January 12th. Maxim Group raised their target price on shares of LendingClub from $35.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 1st. Seaport Res Ptn reiterated a “buy” rating on shares of LendingClub in a research note on Tuesday, January 11th. Finally, Zacks Investment Research upgraded shares of LendingClub from a “hold” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a research note on Wednesday, January 5th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $39.67.
Shares of LC opened at $22.50 on Thursday. The company’s fifty day moving average is $27.34 and its 200-day moving average is $28.40. LendingClub has a 12 month low of $9.50 and a 12 month high of $49.21. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -52.32 and a beta of 2.04. The company has a quick ratio of 1.19, a current ratio of 1.35 and a debt-to-equity ratio of 0.37.
LendingClub (NYSE:LC) last announced its quarterly earnings results on Wednesday, October 27th. The credit services provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.64. LendingClub had a negative net margin of 5.88% and a positive return on equity of 2.56%. The company had revenue of $246.20 million for the quarter, compared to analyst estimates of $221.96 million. During the same quarter in the prior year, the business posted ($0.25) EPS. LendingClub’s quarterly revenue was up 229.6% on a year-over-year basis. As a group, research analysts predict that LendingClub will post 0.6 earnings per share for the current fiscal year.
In other news, Director Susan C. Athey sold 4,338 shares of the firm’s stock in a transaction dated Wednesday, December 15th. The shares were sold at an average price of $26.10, for a total transaction of $113,221.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Annie Armstrong sold 3,686 shares of the firm’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $45.96, for a total transaction of $169,408.56. The disclosure for this sale can be found here. Insiders sold a total of 15,396 shares of company stock worth $481,536 over the last 90 days. Company insiders own 4.48% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. EAM Investors LLC bought a new position in shares of LendingClub during the 3rd quarter worth about $3,607,000. Tudor Investment Corp Et Al bought a new position in LendingClub during the 2nd quarter valued at about $1,214,000. Vanguard Group Inc. lifted its holdings in LendingClub by 9.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,914,592 shares of the credit services provider’s stock valued at $125,361,000 after purchasing an additional 590,721 shares during the last quarter. BlackRock Inc. lifted its holdings in LendingClub by 17.0% during the 2nd quarter. BlackRock Inc. now owns 7,587,213 shares of the credit services provider’s stock valued at $137,556,000 after purchasing an additional 1,104,320 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in LendingClub by 26.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 670,279 shares of the credit services provider’s stock valued at $12,153,000 after purchasing an additional 139,098 shares during the last quarter. 80.33% of the stock is owned by institutional investors.
LendingClub Corp. engages in the operation of education and patient finance and auto loan services. Its loan product types consists of personal, education and patient finance, and auto. The company was founded by Renaud Laplanche and Soulaiman Htite on October 2, 2006 and is headquartered in San Francisco, CA.