LendingClub (LC) Given a $4.00 Price Target at Wedbush

LendingClub (NYSE:LC) received a $4.00 price target from analysts at Wedbush in a research report issued on Wednesday. The brokerage currently has a “hold” rating on the credit services provider’s stock. Wedbush’s price target points to a potential upside of 18.69% from the stock’s previous close.

Several other brokerages have also recently issued reports on LC. Maxim Group restated a “buy” rating and issued a $4.50 target price on shares of LendingClub in a report on Wednesday. ValuEngine upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Zacks Investment Research upgraded shares of LendingClub from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Tuesday, November 13th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $4.92.

Shares of NYSE:LC traded down $0.24 during trading on Wednesday, reaching $3.37. 5,887,486 shares of the stock traded hands, compared to its average volume of 2,051,094. LendingClub has a 52-week low of $2.46 and a 52-week high of $4.55. The company has a quick ratio of 10.30, a current ratio of 12.04 and a debt-to-equity ratio of 2.83. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -19.82 and a beta of 1.69.

LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, February 19th. The credit services provider reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02. LendingClub had a negative net margin of 30.89% and a negative return on equity of 4.02%. The firm had revenue of $181.52 million for the quarter, compared to analysts’ expectations of $181.84 million. As a group, sell-side analysts anticipate that LendingClub will post -0.09 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in LendingClub in the third quarter worth approximately $5,380,000. NewFocus Financial Group LLC bought a new position in LendingClub in the fourth quarter worth approximately $45,000. Bank of New York Mellon Corp raised its position in LendingClub by 11.4% in the second quarter. Bank of New York Mellon Corp now owns 1,470,937 shares of the credit services provider’s stock worth $5,575,000 after acquiring an additional 150,462 shares during the period. ARK Investment Management LLC raised its position in LendingClub by 16.3% in the third quarter. ARK Investment Management LLC now owns 18,001,802 shares of the credit services provider’s stock worth $69,847,000 after acquiring an additional 2,522,314 shares during the period. Finally, BlackRock Inc. raised its position in LendingClub by 9.7% in the third quarter. BlackRock Inc. now owns 25,385,982 shares of the credit services provider’s stock worth $98,498,000 after acquiring an additional 2,237,190 shares during the period. Institutional investors and hedge funds own 86.57% of the company’s stock.

About LendingClub

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

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