Maxim Group Keeps Their Buy Rating on LendingClub (LC)

By Austin Angelo

Maxim Group analyst Michael Diana reiterated a Buy rating on LendingClub (LCResearch Report) yesterday and set a price target of $23.00. The company’s shares closed last Monday at $14.73.

According to TipRanks.com, Diana is a 5-star analyst with an average return of 5.3% and a 61.8% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Arlington Asset Investment, and Westamerica Bancorporation.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for LendingClub with a $23.00 average price target.

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Based on LendingClub’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $10.66 million. In comparison, last year the company had a GAAP net loss of $22.8 million.

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is neutral on the stock.

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LendingClub Corp. engages in the operation of an online credit marketplace for borrowers and investors. It offers personal, business, auto refinance, K-12 education loans and patient solutions. The company was founded by Renaud Laplanche and Soulaiman Htite in 2006 and is headquartered in San Francisco, CA.