Analyst Mark Palmer of BTIG believes that LendingClub Corp (NYSE:LC) has begun to re-stabilize its business by hiring Patrick Dunk as its chief capital officer. Dunne will focus on convincing investors to return to the platform after a significant amount were uncertain about LC after former CEO Renaud Laplanche left the company. Dunne will also attempt to bring in new sources of capital to “fuel loan growth.”

Dunne brings in years of experience from his jobs as the former Head of BlackRock in San Franscio and being the COO and head of Investment Research and Product Management teams at iShares. Palmer believes that Dunne’s diverse background will help LC’s investor base and “development and launch of new verticals from the company’s marketplace platform.” The launch of new verticals, an integral part of LC’s long-term growth plans, was put on hold due to management’s focus to convince investors that the company addressed “issues surrounding the alteration dates on $3 million of loans before their sale.”

Palmer maintained his Buy rating for LendingClub with a price target of $9, marking a 96% increase from current levels. According to TipRanks, the analyst has a yearly average loss of 9.9% and a 40% success rate. The analyst has a 41.7% average loss when recommending LendingClub, and is ranked #3,944 out of 4,064 analysts.

TipRanks shows that out of the 13 analysts who rated LendingClub in the last 3 months, 8% gave a Buy rating, 77% gave a Hold rating and 15% gave a Sell rating. The average 12-month price target for the stock is $5.86, marking a 27.39% upside from current levels.