Oppenheimer analyst Jed Kelly maintained a Buy rating on Lendingtree Inc (TREE) yesterday and set a price target of $350. The company’s shares closed yesterday at $310.19.
Kelly commented:
“TREE shares have outperformed since 12/4/18 Investor Day (+24% vs. internet/ fin-tech indexes 10%/6%), on stable interest rate expectations creating a better mortgage operating environment. Expecting an increase to initial ’19 guidance on ValuePenguin acquisition, but sustaining near-term momentum, likely needs revenue/ EBITDA guidance increased by over $15M/$10M, reflecting an improving mortgage outlook. Unlikely in our view, given it’s early, and refinance demand is still muted despite rate declines. While YTD relative outperformance makes for less than ideal pre-quarter setup, we are LT buyers on demand generation competencies and product diversification producing significant share gains, with integrating insurance acquisitions into TREE’s marketing platform being the key driver of near-term upward estimate revisions, in our view. PT to $350 from $300; maintain Outperform.”
Kelly has an average return of 29.7% when recommending Lendingtree Inc.
According to TipRanks.com, Kelly is ranked #1187 out of 5188 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lendingtree Inc with a $283.83 average price target.
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The company has a one-year high of $391.40 and a one-year low of $183.25. Currently, Lendingtree Inc has an average volume of 208K.
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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.
