Oppenheimer analyst Jed Kelly maintained a Buy rating on Lendingtree Inc (TREE) yesterday and set a price target of $320. The company’s shares closed yesterday at $254.84.
Kelly commented:
“Day, we are expecting initial ’19 guidance bracketing Street estimates that implies back-half mortgage revenue growth. However, based on current macro backdrop and difficult 1Q comp, investors likely require more visibility on mortgage trajectory. Expecting solid non-mortgage (70%-75% of revenue) guidance on more cross-selling opportunities, personal loan strength, and credit cards stabilizing. Additionally, we see plans to accelerate TV advertising as positive indicator in conversion trends improving. Expecting greater discussion on RULO potentially becoming larger part of growth story, where challenges in consumer through-put are limiting a wider roll-out, in our view. Maintain Outperform/$320 PT on LT view that Tree’s paid marketing competencies and product diversification generating greater share in $20B US financial services advertising market.”
Kelly has an average return of 16.3% when recommending Lendingtree Inc.
According to TipRanks.com, Kelly is ranked #1760 out of 5112 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lendingtree Inc with a $302 average price target.
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The company has a one-year high of $404.40 and a one-year low of $183.25. Currently, Lendingtree Inc has an average volume of 237.8K.
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LendingTree, Inc. engages in the operation of online loan marketplace for consumers seeking loans and other credit-based offerings. It provides mortgage loans, home equity, reverse mortgage, auto loans, credit cards, personal loans, student loans, and small business loans.
