LendingTree (NASDAQ:TREE) Posts Earnings Results, Misses Estimates By $0.19 EPS

LendingTree (NASDAQ:TREE) posted its quarterly earnings results on Thursday. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.19), Briefing.com reports. LendingTree had a negative return on equity of 3.15% and a negative net margin of 19.02%. The company had revenue of $210.10 million during the quarter, compared to the consensus estimate of $187.41 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. LendingTree updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

LendingTree Stock Performance

TREE traded up $1.00 during trading on Friday, hitting $55.72. The stock had a trading volume of 511,483 shares, compared to its average volume of 165,400. The company has a debt-to-equity ratio of 4.80, a current ratio of 3.71 and a quick ratio of 3.71. The company has a 50 day moving average price of $44.77 and a 200-day moving average price of $40.27. LendingTree has a one year low of $10.12 and a one year high of $59.00. The firm has a market cap of $736.90 million, a price-to-earnings ratio of -5.37 and a beta of 2.11.

Analyst Ratings Changes

A number of brokerages recently weighed in on TREE. StockNews.com upgraded shares of LendingTree from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Oppenheimer lifted their price target on shares of LendingTree from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Stephens reissued an “overweight” rating and issued a $55.00 price target on shares of LendingTree in a report on Thursday, June 20th. Truist Financial raised their price objective on LendingTree from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Northland Securities lifted their target price on LendingTree from $50.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.63.

Insider Buying and Selling at LendingTree

In other news, CFO Trent Ziegler sold 8,750 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $49.30, for a total value of $431,375.00. Following the completion of the sale, the chief financial officer now owns 5 shares of the company’s stock, valued at $246.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other LendingTree news, CFO Trent Ziegler sold 8,750 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $49.30, for a total transaction of $431,375.00. Following the transaction, the chief financial officer now owns 5 shares in the company, valued at approximately $246.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gabriel Dalporto sold 1,442 shares of LendingTree stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $50.17, for a total transaction of $72,345.14. Following the completion of the sale, the director now owns 4,478 shares of the company’s stock, valued at $224,661.26. The disclosure for this sale can be found here. Insiders have sold a total of 13,802 shares of company stock valued at $673,219 in the last ninety days. 23.40% of the stock is currently owned by corporate insiders.

About LendingTree

LendingTree, Inc, through its subsidiary, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, and home equity loans and lines of credit; and real estate brokerage services.