In a report issued on August 6, Mark Palmer from BTIG reiterated a Buy rating on LendingClub Corp (LC), with a price target of $30. The company’s shares closed yesterday at $14.82.
According to TipRanks.com, Palmer is a top 100 analyst with an average return of 15.4% and a 69.0% success rate. Palmer covers the Financial sector, focusing on stocks such as Repay Holdings Corp, Genworth Financial, and MGIC Investment.
LendingClub Corp has an analyst consensus of Moderate Buy, with a price target consensus of $23.17, representing a 56.3% upside. In a report released yesterday, Maxim Group also reiterated a Buy rating on the stock with a $22.50 price target.
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Based on LendingClub Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $19.94 million. In comparison, last year the company had a GAAP net loss of $60.86 million.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock.
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LendingClub Corp. engages in the operation of an online credit marketplace for borrowers and investors. It offers personal, business, auto refinance, K-12 education loans and patient solutions. The company was founded by Renaud Laplanche and Soulaiman Htite in 2006 and is headquartered in San Francisco, CA.
