LendingClub LC was initiated at Hold on Tuesday at Stifel. The company IPO'd at $15 in December, closing above $23. The stock has since traded down to close Friday at $22.09. Stifel did not set a price target.
Stifel analyst Scott Devitt notes that the company is estimated to have originated $4 billion in loans in 2014, a fraction of the $1 trillion in U.S. unsecured consumer and small-business loans annually. However, Stifel identifies key issues that will determine its price movement: (1) the market size that fits Lending Club’s credit guidelines; (2) the macroeconomic atmosphere; (3) competition in the peer-to-peer lending space; and (4) international growth potential.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.