Oppenheimer analyst Jed Kelly maintained a Buy rating on Lendingtree Inc (NASDAQ: TREE) yesterday and set a price target of $320. The company’s shares closed yesterday at $238.75.
Kelly commented:
“TREE shares are off 27% from the company’s 12/13/17 investor day, and we see the stock as de-risked into 2Q on refinancing headwinds, limiting the potential for beating and raising its initial 2018 guidance. However, we believe solid underlying fundamentals driving a disproportionate share of financial service advertising remain firmly intact, and with shares trading at 17x our ’19E EBITDA, we think the market is under-appreciating the ability of TREE’s product diversification and paid marketing efficiencies to generate high-20s VMM growth over the medium term. Additionally, current consensus estimates imply limited impact from digital mortgage initiatives (RULO) which, if successfully executed, would drive meaningful upside to long-term consensus VMM estimates, in our view. Reiterate Outperform and adjust price target to $320 from $370.”
According to TipRanks.com, Kelly is a 4-star analyst with an average return of 8.2% and a 60.0% success rate. Kelly covers the Services sector, focusing on stocks such as Booking Holdings Inc, Yatra Online Inc, and TripAdvisor Inc.
Currently, the analyst consensus on Lendingtree Inc is a Moderate Buy with an average price target of $329.17.
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Based on Lendingtree Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $31.52 million. In comparison, last year the company had a net profit of $7.32 million.
Based on the recent corporate insider activity of 97 insiders, corporate insider sentiment is neutral on the stock. Last month, Robin Henderson, a Director at TREE sold 270 shares for a total of $72,630.
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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.
