In yesterday’s Wall Street session, LendingClub Corporation (NYSE:LC) shares traded at $6.88, up 7.50% from the previous session.
As of this writing, 9 analysts cover LendingClub Corporation (NYSE:LC). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $9.00, we find $12.00. Given the previous closing price of $6.40, this indicates a potential upside of 87.5 percent. LC stock price is now -22.43% away from the 50-day moving average and -21.24% away from the 200-day moving average. The market capitalization of the company currently stands at $748.89M.
There are 3 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $11.83 as their price target over the next twelve months.
With the price target of $13.50, Jefferies recently initiated with Buy rating for LendingClub Corporation (NYSE: LC).
In other news, Cutler Stephen M, Director bought 7,407 shares of the company’s stock on May 09. The stock was bought for $49,997 at an average price of $6.75. Upon completion of the transaction, the Director now directly owns 14,806 shares in the company, valued at $0.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 05, Director Cutler Stephen M bought 7,250 shares of the business’s stock. A total of $49,299 was incurred on buying the stock at an average price of $6.80. This leaves the insider owning 7,399 shares of the company worth $50905.12. Insiders disposed of 1,110,767 shares of company stock worth roughly $7.64 million over the past 1 year. A total of 2.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LC stock. A new stake in LendingClub Corporation shares was purchased by BAADER BANK AKTIENGESELLSCHAFT during the first quarter worth $1,036,000. DYNAMIC TECHNOLOGY LAB PRIVATE LTD invested $623,000 in shares of LC during the first quarter. In the first quarter, EXODUSPOINT CAPITAL MANAGEMENT, LP acquired a new stake in LendingClub Corporation valued at approximately $552,000. TUDOR INVESTMENT CORP ET AL acquired a new stake in LC for approximately $484,000. GSA CAPITAL PARTNERS LLP purchased a new stake in LC valued at around $393,000 in the second quarter. In total, there are 285 active investors with 84.10% ownership of the company’s stock.
Thursday morning saw LendingClub Corporation (NYSE: LC) opened at $6.50. During the past 12 months, LendingClub Corporation has had a low of $6.23 and a high of $14.68. The fifty day moving average price for LC is $8.82 and a two-hundred day moving average price translates $8.72 for the stock.
The latest earnings results from LendingClub Corporation (NYSE: LC) was released for Jun, 2023. According to the Credit Services Company, earnings per share came in at $0.09, beating analysts’ expectations of $0.04 by 0.05. This compares to $1.73 EPS in the same period last year. The net profit margin was 8.70% and return on equity was 7.70% for LC. The company reported revenue of $214.49 million for the quarter, compared to $128.47 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 66.96 percent. For the current quarter, analysts expect LC to generate $198.69M in revenue.
LendingClub Corporation(LC) Company Profile
LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association 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. In addition, it operates an online lending marketplace platform. The company was incorporated in 2006 and is headquartered in San Francisco, California.
