Tue Oct 01 05:17:00 UTC 2024: ## LendingClub Stock Receives “Moderate Buy” Rating Amid Positive Analyst Sentiment

**New York, NY – October 1st, 2024** – LendingClub Co. (NYSE: LC) has been attracting positive attention from analysts, with an average “Moderate Buy” rating from seven firms currently covering the company. Six analysts have issued a “buy” recommendation, while one has assigned a “hold” rating. The average 12-month price target among these firms stands at $13.07.

Recent research reports have fueled this optimism. Compass Point upgraded LendingClub to a “buy” rating with a price target of $15.00, while JPMorgan Chase & Co. raised their target to $14.00 and maintained an “overweight” rating. Piper Sandler also reaffirmed their “overweight” rating and increased their target price to $13.00.

Institutional investors are also showing strong interest in LendingClub. International Assets Investment Management LLC, The Manufacturers Life Insurance Company, ProShare Advisors LLC, SG Americas Securities LLC, and Swiss National Bank have all recently increased their holdings in the company. Institutional ownership of LendingClub stock currently sits at 74.08%.

LendingClub’s recent quarterly earnings report, released on July 30th, exceeded analysts’ expectations. The company reported earnings per share of $0.13, surpassing estimates by $0.09. Revenue for the quarter came in at $187.20 million, exceeding analysts’ expectations of $177.03 million. Analysts predict LendingClub will post earnings per share of $0.38 for the current year.

LendingClub operates as a bank holding company providing a variety of financial products and services in the United States, including deposit products and both consumer and commercial loans.

**Note:** This news article is a summary of the provided text and does not constitute financial advice. Always consult with a qualified financial advisor before making any investment decisions.

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