Needham analyst Mayank Tandon reiterated a Buy rating on Lendingtree (TREE – Research Report) today and set a price target of $62.00.
Mayank Tandon’s rating is based on a combination of factors that highlight both challenges and opportunities for Lendingtree. Despite the company’s recent performance falling short of expectations due to temporary issues in the insurance sector, the overall outlook remains positive. The insurance segment faced larger than usual seasonal challenges and partial effects from regulatory changes, but these are seen as temporary setbacks.
On a more positive note, the company’s advertising budgets in the insurance sector are still robust, and other segments such as home and consumer are showing strong performance. This indicates that Lendingtree’s diversified marketplace model is effectively driving growth. While there may be some short-term volatility due to broader economic concerns, the long-term risk-reward profile appears favorable. Consequently, Tandon maintains a Buy rating, albeit with a slightly reduced price target.
In another report released today, KBW also maintained a Buy rating on the stock with a $66.00 price target.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TREE in relation to earlier this year.