LendingTree price target lowered to $60 from $85 at Needham

Needham lowered the firm’s price target on LendingTree (TREE) to $60 from $85 and keeps a Buy rating on the shares. The company’s Q4 results significantly exceeded expectations, particularly in Insurance, growing 25% Y/Y, and Consumer and Home benefiting from home equity demand, though the firm is reducing its price target based on recent multiple compression for “lead-gen stocks”, the analyst tells investors in a research note.