Analysts Set LendingClub Corp (NYSE:LC) PT at $23.75

LendingClub Corp (NYSE:LC) has earned a consensus rating of “Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $23.75.

Several research firms have recently commented on LC. Morgan Stanley decreased their price objective on LendingClub from $23.75 to $17.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. ValuEngine raised LendingClub from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded LendingClub from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. BTIG Research reissued a “buy” rating and set a $30.00 target price on shares of LendingClub in a research note on Wednesday, October 2nd. Finally, Maxim Group set a $23.00 target price on LendingClub and gave the company a “buy” rating in a research note on Wednesday, August 7th.

Shares of NYSE LC traded up $0.28 during trading on Wednesday, hitting $11.34. The company had a trading volume of 432,230 shares, compared to its average volume of 557,714. The stock has a 50 day simple moving average of $13.48 and a 200 day simple moving average of $8.18. The company has a debt-to-equity ratio of 2.11, a quick ratio of 5.81 and a current ratio of 7.06. LendingClub has a 12 month low of $10.89 and a 12 month high of $19.20. The firm has a market capitalization of $964.09 million, a P/E ratio of -32.40 and a beta of 1.60.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Tuesday, August 6th. The credit services provider reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.09. LendingClub had a negative return on equity of 2.67% and a negative net margin of 9.14%. The firm had revenue of $190.80 million for the quarter, compared to the consensus estimate of $192.04 million. During the same quarter last year, the company earned $0.03 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts predict that LendingClub will post -0.13 EPS for the current year.

In related news, Director Susan C. Athey sold 6,000 shares of LendingClub stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $15.04, for a total transaction of $90,240.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Steven Allocca bought 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of $13.92 per share, for a total transaction of $194,880.00. The disclosure for this purchase can be found here. Insiders have sold a total of 16,663 shares of company stock worth $242,921 in the last three months. 4.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of LC. ARK Investment Management LLC grew its holdings in LendingClub by 22.4% during the 1st quarter. ARK Investment Management LLC now owns 21,453,157 shares of the credit services provider’s stock valued at $66,290,000 after buying an additional 3,926,187 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of LendingClub in the 1st quarter worth approximately $60,000. Marshall Wace LLP purchased a new position in shares of LendingClub in the 1st quarter worth approximately $509,000. Jane Street Group LLC boosted its holdings in shares of LendingClub by 166.5% in the 2nd quarter. Jane Street Group LLC now owns 209,145 shares of the credit services provider’s stock worth $686,000 after purchasing an additional 130,681 shares during the period. Finally, Balyasny Asset Management LLC purchased a new position in shares of LendingClub in the 2nd quarter worth approximately $150,000.

About LendingClub

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

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