LendingTree price target raised to $40 from $17 at Needham

Needham raised the firm’s price target on LendingTree to $40 from $17 and keeps a Buy rating on the shares. The company’s Q4 revenue came in softer than expected as all of its verticals continue to be pressured by rising interest rates and tighter underwriting criteria, though EBITDA came in better than expected as management continues to tighten the belt on costs given the top-line pressures, the analyst tells investors in a research note. With the shares trading at an enterprise value to expected FY25 EBITDA of just 8-times, the risk-reward is favorable for long-term growth investors, the firm added.