Mayank Tandon, an analyst from Needham, reiterated the Buy rating on Lendingtree. The associated price target was raised to $70.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Mayank Tandon has given his Buy rating due to a combination of factors that highlight Lendingtree’s strong performance and promising outlook. The company’s second-quarter results surpassed expectations, showing robust growth across all segments, particularly in the Home and Consumer sectors. The Home segment benefited significantly from a 38% year-over-year increase in HELOC growth, while the Consumer segment saw substantial gains in small business and personal loans.
Additionally, Lendingtree has provided guidance for the third quarter that exceeds consensus estimates and has raised its fiscal year 2025 outlook, driven primarily by strength in the Insurance segment. Management anticipates a record quarter for Insurance, and the continued growth across other segments supports confidence in achieving or surpassing the revised guidance. Despite potential short-term volatility due to economic uncertainties, the risk-reward profile is viewed as favorable, with the stock trading at an attractive valuation. Consequently, the price target has been increased to $70.
In another report released today, Oppenheimer also maintained a Buy rating on the stock with a $70.00 price target.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TREE in relation to earlier this year.