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J.P. Morgan Thinks Lendingtree’s Stock is Going to Recover

In a report released today, Melissa Wedel from J.P. Morgan maintained a Buy rating on Lendingtree (TREEResearch Report), with a price target of $70.00. The company’s shares closed last Thursday at $46.74, close to its 52-week low of $40.82.

According to TipRanks.com, Wedel is a 1-star analyst with an average return of -9.8% and a 47.1% success rate. Wedel covers the Financial sector, focusing on stocks such as Sixth Street Specialty Lending, Runway Growth Finance Corp, and Oaktree Specialty Lending.

Currently, the analyst consensus on Lendingtree is a Strong Buy with an average price target of $69.71, which is a 54.4% upside from current levels. In a report released yesterday, Needham also maintained a Buy rating on the stock with a $54.00 price target.

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Lendingtree’s market cap is currently $596.7M and has a P/E ratio of 16.45.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TREE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

LendingTree, Inc. engages in the operation of online loan marketplace for consumers seeking loans and other credit-based offerings. It operates through the following segments: Home, Consumer, Insurance, and Other. The Home segment consists of purchase mortgage, refinance mortgage, home equity loans and lines of credit, reverse mortgage loans, and real estate. The Consumer segment includes credit cards, personal loans, small business loans, student loans, auto loans, deposit accounts, and other credit products. The Insurance segment comprises of insurance quote products. The Other segment deals with the resale of online advertising space to third parties and revenue from home improvement referrals. The company was founded Douglas Lebda in April 2008 and is headquartered in Charlotte, NC.

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