Analyst Mayank Tandon of Needham reiterated a Buy rating on Lendingtree, retaining the price target of $62.00.
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Mayank Tandon has given his Buy rating due to a combination of factors that highlight Lendingtree’s strong performance and future potential. The company recently announced positive results for the second quarter, with all business segments experiencing significant year-over-year revenue growth. This robust performance has led to an optimistic outlook for the third quarter, surpassing market expectations, and an upward revision of the fiscal year 2025 forecast.
Management’s confidence in continued improvement is supported by a stable economic environment, enhanced operational efficiency, and a stronger capital position. Despite the stock’s recent pre-market increase, Tandon sees the risk-reward scenario as favorable, with shares expected to open at a reasonable valuation. Consequently, he maintains a Buy rating and a price target of $62, reflecting his positive view on the company’s trajectory.
According to TipRanks, Tandon is an analyst with an average return of -1.9% and a 42.37% success rate. Tandon covers the Technology sector, focusing on stocks such as Agilysys, Exlservice Holdings, and Genpact.
In another report released today, KBW also maintained a Buy rating on the stock with a $66.00 price target.