LendingClub Corp Receives a Hold from OppenheimerBy Carrie Williams
“LC reported a solid 3Q, guiding 4Q originations flat sequentially, indicating minimal disruption from the 10/15/16 rate increases for higher grade loans, in our view. We believe new management is implementing correct strategies to restore investor confidence, evidenced by guiding for bank originations to grow ~90% sequentially and announcing the $1.3B National Bank of Canada (NBC) purchase agreement. Autos are likely interest income in ’17, and we are not modeling a meaningful revenue contribution until we gain more clarity on metrics.”
According to TipRanks.com, Kelly is a top 100 analyst with an average return of 26.5% and a 64.8% success rate. Kelly covers the Technology sector, focusing on stocks such as TripAdvisor Inc., Alphabet Inc, and HomeAway.
Currently, the analyst consensus on LendingClub Corp is Hold and the average price target is $7, representing a 19.7% upside.
In a report released today, Credit Suisse also reiterated a Hold rating on the stock with a $9 price target.
The company has a one year high of $14.49 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.