LendingClub (NYSE:LC) Given New $14.00 Price Target at Wedbush

LendingClub (NYSE:LC) had its target price boosted by Wedbush from $11.00 to $14.00 in a research note issued to investors on Wednesday, Benzinga reports. Wedbush currently has an outperform rating on the credit services provider’s stock. Wedbush also issued estimates for LendingClub’s Q3 2024 earnings at $0.10 EPS, Q4 2024 earnings at $0.11 EPS, FY2024 earnings at $0.45 EPS, Q1 2025 earnings at $0.26 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.27 EPS, Q4 2025 earnings at $0.23 EPS, FY2025 earnings at $1.00 EPS and FY2026 earnings at $1.20 EPS.

Other equities research analysts also recently issued reports about the company. BTIG Research assumed coverage on LendingClub in a research report on Friday, June 7th. They issued a buy rating and a $12.00 target price on the stock. Keefe, Bruyette & Woods increased their target price on LendingClub from $10.00 to $11.50 and gave the company a market perform rating in a research report on Wednesday. Compass Point raised their target price on shares of LendingClub from $13.00 to $15.00 and gave the company a buy rating in a report on Wednesday. Jefferies Financial Group upped their price target on shares of LendingClub from $11.00 to $12.00 and gave the company a buy rating in a research note on Thursday, July 18th. Finally, Piper Sandler restated an overweight rating and issued a $13.00 target price (up from $10.00) on shares of LendingClub in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $12.64.

LendingClub Price Performance

Shares of LC opened at $10.64 on Wednesday. The firm has a market cap of $1.18 billion, a P/E ratio of 31.29 and a beta of 2.06. LendingClub has a 1 year low of $4.73 and a 1 year high of $12.87. The company has a 50 day simple moving average of $9.19 and a two-hundred day simple moving average of $8.73.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. The company had revenue of $187.20 million during the quarter, compared to analysts’ expectations of $177.03 million. LendingClub had a net margin of 5.61% and a return on equity of 3.41%. LendingClub’s quarterly revenue was down 19.5% on a year-over-year basis. During the same period last year, the company posted $0.09 earnings per share. On average, sell-side analysts anticipate that LendingClub will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Erin Selleck sold 4,083 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $8.88, for a total value of $36,257.04. Following the sale, the director now directly owns 54,571 shares of the company’s stock, valued at approximately $484,590.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.31% of the stock is owned by corporate insiders.

Institutional Trading of LendingClub

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its stake in shares of LendingClub by 363.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock valued at $61,000 after purchasing an additional 5,489 shares during the period. EntryPoint Capital LLC lifted its holdings in LendingClub by 44.9% during the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock valued at $66,000 after buying an additional 2,328 shares in the last quarter. nVerses Capital LLC purchased a new stake in LendingClub in the 2nd quarter valued at about $71,000. Innealta Capital LLC bought a new position in LendingClub in the 2nd quarter worth about $72,000. Finally, SG Americas Securities LLC increased its position in shares of LendingClub by 16.3% during the second quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock worth $104,000 after acquiring an additional 1,732 shares during the period. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Company Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.