FBR Capital Reiterates a Hold Rating on LendingClub CorpBy Austin Angelo
“We reiterate our Market Perform rating on Lending Club and our $6.50 price target, equal to 43.3x our 2018 operating EPS estimate. 3Q16 was an active quarter: LC wrapped up investor incentives, entered a $1.3B loan purchase agreement with Credigy, and launched a new auto refinance product. While 3Q revenue trends were better than expected, the sharp upward trajectory in share-based compensation expense is a concern given the dilution. Still, we commend LC for its progress bringing investors back on the platform. To reflect 3Q results, we raise our 2016 and 2017 adjusted EPS estimates to ($0.11) and $0.00 (from ($0.13) and ($0.05)), respectively.”
According to TipRanks.com, Ramsey is a 1-star analyst with an average return of -0.8% and a 58.3% success rate. Ramsey covers the Financial sector, focusing on stocks such as Seacoast Banking Corporation Of Florida, Pacific Premier Bancorp Inc, and Huntington Bancshares Inc.
Currently, the analyst consensus on LendingClub Corp is Hold and the average price target is $7, representing a 21.5% upside.
In a report released yesterday, Oppenheimer also reiterated a Hold rating on the stock.
The company has a one year high of $14.90 and a one year low of $3.44. Currently, LendingClub Corp has an average volume of 8.64M.
LendingClub Corp. operates as an online credit marketplace. It engages in the provision of facilitating personal loans, business loans, and financing for elective medical procedures. The company was founded by Renaud Laplanche in October 2006 and is headquartered in San Francisco, CA.