In a report released today, Michael Grondahl from Northland Securities maintained a Hold rating on Lendingtree Inc (TREE). The company’s shares closed yesterday at $415.69, close to its 52-week high of $429.46.
Grondahl wrote:
“We highlight continued growth from the shift to online from offline in consumer financial products, a stabilized mortgage environment after a tough 2018, increased brand and marketing spend and TREE is now blessed with 4 large streams of revenues and a 5th which is made up of the smaller businesses. This greatly diversifies and stabilizes the overall business model.”
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 19.4% and a 58.5% success rate. Grondahl covers the Financial sector, focusing on stocks such as Front Yard Residential Corporation, Altisource Portfolio Solutions SA, and Thunder Bridge Acquisition Ltd.
Currently, the analyst consensus on Lendingtree Inc is a Moderate Buy with an average price target of $398.39, a -4.2% downside from current levels. In a report released yesterday, RBC Capital also downgraded the stock to Hold with a $425 price target.
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The company has a one-year high of $429.46 and a one-year low of $183.25. Currently, Lendingtree Inc has an average volume of 179K.
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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.
