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Fly News Breaks for February 26, 2020
TREE
Feb 26, 2020 | 09:15 EDT
Needham analyst Mayank Tandon lowered his price target on LendingTree to $375 after its "soft" Q4 results with a miss on revenue, variable marketing margin, and EBITDA. The analyst cites the weakness in the company's credit card business as card issuers reduced marketing budgets in the quarter, even as the company affirmed its guidance for FY20 thanks to the stronger trends in insurance and mortgage business. Tandon still keeps his Buy rating on LendingTree and believes that the pullback in the stock price offers an attractive opportunity for investors looking for SMID personal finance marketplace exposure.
News For TREE From the Last 2 Days
TREE
Mar 27, 2024 | 16:18 EDT
LendingTree has secured up to $175M in financing in the form of a first lien term loan facility from funds managed by Apollo affiliates. LendingTree intends to draw $125M of the facility upon funding while the remainder will be available as a delayed draw during the following 12 months. The funds will be used for general corporate purposes, which may include repayment of existing debt.