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LC

LendingClub

$3.59

-0.665 (-15.65%)

10:21
12/07/17
12/07
10:21
12/07/17
10:21

LendingClub slides after Q4 guidance lowered

Shares of LendingClub are lower in early trading after the company reported at its investor day meeting that it is downwardly adjusting its Q4 revenue and adjusted EBITDA outlook, saying it now expects a ($3M) timing impact to both its revenue and EBITDA from holding the residual from its recent securitization. The company now sees Q4 revenue of $155M-$160M, down from its prior view of $158M-$163M, and adjusted EBITDA of $16M-$20M, down from $19M-$23M. The Q4 consensus revenue view is $160.6M. For FY17, LendingClub sees revenue of $573M-$578M, compared to consensus of $577.3M. For FY17, adjusted EBITDA is guided at $42M-$46M, according to investor day presentation slides. In morning trading while the company conducts its investor event, LendingClub shares are down 14% to $3.64.

  • 07

    Dec

LC LendingClub
$3.59

-0.665 (-15.65%)

11/01/17
NEED
11/01/17
INITIATION
Target $7
NEED
Buy
LendingClub initiated with a Buy on strong credit cycle
As noted earlier, Needham analyst Kerry Rice initiated LendingClub with a Buy rating and a $7 price target, saying the company is poised to re-accelerate the growth of its originations given that the credit cycle is in "full swing". Rice says the company's proprietary data, scale, and technology offer a competitive advantage which helped it enter several markets with significant growth opportunity.
11/01/17
11/01/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Gildan Activewear (GIL) initiated with a Neutral at Macquarie. 2. Proofpoint (PFPT) initiated with a Perform at Oppenheimer. 3. LendingClub (LC) initiated with a Buy at Needham. 4. Melco Resorts & Entertainment (MLCO) initiated with a Buy at Roth Capital. 5. VBI Vaccines (VBIV) initiated with a Buy at Canaccord. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/07/17
MAXM
11/07/17
INITIATION
Target $8
MAXM
Buy
LendingClub initiated with a Buy at Maxim
Maxim analyst Michael Diana initiated Lending Club with a Buy rating and a price target of $8. Diana says the company is poised for strong EBITDA growth given the backdrop of lower expenses, stable credit quality, and improved management. The analyst says the company was ready for a reset in 2016, but suffered from a "temporary crisis of confidence" around its management when its founder resigned while two of its online marketplace vendors were dealing with credit quality issues.
11/07/17
11/07/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Michael Kors (KORS) resumed with a Neutral at BofA/Merrill. 2. Lowe's (LOW) was initiated with an Overweight at KeyBanc while Home Depot (HD) was initiated with a Sector Weight. 3. OptiNose (OPTN) was initiated with an Outperform at BMO Capital and RBC Capital, an Overweight at Piper Jaffray, and a Buy at Jefferies. 4. LendingClub (LC) initiated with a Buy at Maxim. 5. LKQ Corp. (LKQ) initiated with an Outperform at Wolfe Research. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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