LendingClub (NYSE:LC) Price Target Cut to $17.00 by Analysts at Morgan Stanley

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LendingClub (NYSE:LC) had its target price cut by Morgan Stanley from $23.75 to $17.00 in a research report sent to investors on Friday, BenzingaRatingsTable reports. They currently have an equal weight rating on the credit services provider’s stock.

Other research analysts have also recently issued reports about the company. ValuEngine cut Intersect ENT from a buy rating to a hold rating in a research note on Monday, July 8th. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Wedbush reaffirmed an outperform rating on shares of Purple Innovation in a report on Wednesday, May 8th. Finally, Maxim Group reaffirmed a buy rating and set a $22.50 price target (up from $4.50) on shares of LendingClub in a report on Tuesday, July 9th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $20.65.

LC opened at $16.03 on Friday. LendingClub has a 12 month low of $12.30 and a 12 month high of $22.75. The firm has a market cap of $1.38 billion, a PE ratio of -45.80 and a beta of 1.59. The company has a debt-to-equity ratio of 2.27, a current ratio of 4.88 and a quick ratio of 3.93. The business’s fifty day moving average is $5.06.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, May 7th. The credit services provider reported ($0.15) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.15). LendingClub had a negative return on equity of 3.19% and a negative net margin of 16.31%. The firm had revenue of $174.40 million during the quarter, compared to analysts’ expectations of $170.45 million. During the same period in the previous year, the firm posted $0.05 EPS. LendingClub’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, equities research analysts anticipate that LendingClub will post -0.21 EPS for the current year.

In other news, insider Valerie Kay sold 9,500 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $2.98, for a total value of $28,310.00. Following the completion of the sale, the insider now directly owns 242,981 shares of the company’s stock, valued at approximately $724,083.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary G. Meeker sold 100,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $3.57, for a total value of $357,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,045,833 shares of company stock valued at $3,517,142 over the last ninety days. 4.20% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of LC. SG Americas Securities LLC purchased a new stake in shares of LendingClub in the 1st quarter valued at about $60,000. United Services Automobile Association raised its stake in LendingClub by 21.3% during the 4th quarter. United Services Automobile Association now owns 70,999 shares of the credit services provider’s stock valued at $187,000 after acquiring an additional 12,474 shares during the last quarter. Banque Pictet & Cie SA purchased a new stake in LendingClub during the 1st quarter valued at approximately $204,000. D. E. Shaw & Co. Inc. raised its stake in LendingClub by 6.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 89,307 shares of the credit services provider’s stock valued at $235,000 after acquiring an additional 5,771 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in LendingClub by 248.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 76,299 shares of the credit services provider’s stock valued at $236,000 after acquiring an additional 54,392 shares during the last quarter.

LendingClub Company Profile

LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.

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