Lendingclub (NASDAQ:HAPN) Stock Price Target Cut by Piper Sandler

Lendingclub (NASDAQ:HAPN) had its price target cut by equities researchers at Piper Sandler from $25.00 to $20.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler‘s price target indicates a potential upside of 27.98% from the stock’s current price.

Several other analysts have also commented on the company. BTIG Research reaffirmed a “buy” rating and set a $25.00 target price on shares of Lendingclub in a report on Tuesday, July 28th. Citizens Jmp raised their price objective on shares of Lendingclub from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Lendingclub in a research note on Tuesday, September 22nd. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Lendingclub presently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

Lendingclub Price Performance

NASDAQ:HAPN traded up $1.29 during midday trading on Thursday, reaching $15.63. 330,392 shares of the stock traded hands, compared to its average volume of 2,035,610. The company has a market cap of $1.80 billion, a PE ratio of 9.48 and a beta of 1.88. Lendingclub has a 12-month low of $13.05 and a 12-month high of $21.67. The firm has a 50-day moving average price of $16.00.

Lendingclub (NASDAQ:HAPN) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. Lendingclub had a net margin of 18.67% and a return on equity of 12.92%. The business had revenue of $279.09 million for the quarter. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities analysts forecast that Lendingclub will post 1.86 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Jordan Cheng sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $17.56, for a total transaction of $49,168.00. Following the completion of the sale, the general counsel owned 106,413 shares in the company, valued at $1,868,612.28. This represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Fergal Stack sold 37,500 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $18.64, for a total value of $699,000.00. Following the transaction, the senior vice president directly owned 77,477 shares in the company, valued at $1,444,171.28. This represents a 32.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 137,800 shares of company stock valued at $2,618,356. 3.31% of the stock is owned by company insiders.

About Lendingclub

LendingClub Corporation is a U.S.-based financial technology company that operates a digital banking and lending platform. The company connects consumers seeking credit with funding sources and provides personal loans, debt-consolidation loans, auto-refinancing loans and other consumer credit products through its online platform.

Following its acquisition of Radius Bancorp in 2020, LendingClub also operates as a bank holding company through LendingClub Bank, National Association. Its banking operations support consumer and commercial lending, as well as deposit products designed to provide funding for loans and other banking activities.

Founded in 2006, LendingClub primarily serves customers in the United States.