Wedbush Sticks to Its Buy Rating for LendingClub (LC)

Wedbush analyst David Chiaverini maintained a Buy rating on LendingClub (LCResearch Report) today and set a price target of $13.00. The company’s shares closed yesterday at $10.34.

Chiaverini covers the Financial sector, focusing on stocks such as Silvergate Capital, LendingClub, and SoFi Technologies. According to TipRanks, Chiaverini has an average return of 2.3% and a 46.03% success rate on recommended stocks.

LendingClub has an analyst consensus of Strong Buy, with a price target consensus of $16.33.

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Based on LendingClub’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $300.3 million and a net profit of $43.2 million. In comparison, last year the company earned a revenue of $241.9 million and had a net profit of $27.19 million

Based on the recent corporate insider activity of 58 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 LC 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.

LendingClub Corp. engages in the operation of an online credit marketplace for borrowers and investors. It offers personal, business, auto refinance, K-12 education loans and patient solutions. The company was founded by Renaud Laplanche and Soulaiman Htite on October 2, 2006 and is headquartered in San Francisco, CA.

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