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TREE

LendingTree

$243.75

-0.4 (-0.16%)

, ZG

Zillow

$59.04

0.89 (1.53%)

09:15
08/07/18
08/07
09:15
08/07/18
09:15

Zillow acquisition a risk for LendingTree, says BWS Financial

The acquisition of Mortgage Lenders of America by Zillow Group (ZG) is further risk to LendingTree's (TREE) business, BWS Financial analyst Hamed Khorsand tells investors in a research note. LendingTree is already facing a price ceiling on referral rates, the analyst contends. He believes Zillow buying one of the company's customers "emphasizes some of the headwinds that could persist for a while." Further consolidation among mortgage lenders could further deteriorate the ability for LendingTree to retain current level of referral rates, Khorsand contends. He keeps a Sell rating on the shares with a $194 price target.

TREE

LendingTree

$243.75

-0.4 (-0.16%)

ZG

Zillow

$59.04

0.89 (1.53%)

Z

Zillow

$58.18

0.6 (1.04%)

  • 07

    Aug

  • 15

    Aug

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    Sep

  • 06

    Nov

TREE LendingTree
$243.75

-0.4 (-0.16%)

07/27/18
NORL
07/27/18
DOWNGRADE
NORL
Market Perform
LendingTree downgraded to Market Perform from Outperform at Northland
07/26/18
RHCO
07/26/18
NO CHANGE
Target $280
RHCO
Hold
LendingTree price target lowered to $280 from $310 at SunTrust
SunTrust analyst Youssef Squali lowered his price target for LendingTree to $280 from $310 on mixed Q2 results. The analyst notes that rising rates and tough year over year comps created greater head winds for mortgage/credit card segments, but management's diversification strategy helped drive non-mortgage to record levels. Squali reiterates a Hold rating on the shares given decelerating growth, lofty long-term Street expectations, about 3 times stock rise in last 24 months, lowered FY18 guidance and rate head winds.
07/12/18
OPCO
07/12/18
NO CHANGE
Target $320
OPCO
Outperform
LendingTree price target lowered to $320 from $370 at Oppenheimer
Oppenheimer analyst Jed Kelly lowered his price target for LendingTree to $320 from $370, while reiterating an Outperform rating on the shares. The analyst notes that the shares are off 27% from the company's investor day, and he sees the stock as de-risked into Q2 on refinancing headwinds, limiting the potential for beating and raising its initial 2018 guidance. However, the analyst believes solid underlying fundamentals driving a disproportionate share of financial service advertising remain firmly intact, and thinks the market is under-appreciating the ability of LendingTree's product diversification and paid marketing efficiencies to generate high-20s VMM growth over the medium term.
06/26/18
06/26/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Underperform from Market Perform at Bernstein with analyst Stacy Rasgon saying she sees the CEO change and leadership vacuum providing some protection from further upward revisions, EPS growth slowing into 2019 as compares get harder and structural issues build, and an increasingly competitive environment. 2. LendingTree (TREE) downgraded to Neutral from Buy at Compass Point with analyst Michael Tarkan citing mortgage deceleration and remaining long-term cycle risks. 3. AMC Networks (AMCX) downgraded to Neutral from Buy at Goldman Sachs with analyst Drew Borst saying slowing advertising growth due to rating headwinds from The Walking Dead franchise and affiliate fee growth challenges in the pay TV ecosystem are a risk to earnings estimates. 4. Square (SQ) downgraded to Equal Weight from Overweight at Stephens with analyst Brett Huff stating that after a "truly remarkable" stock price acceleration over the past two years, he thinks Square is a "special" company, but is taking a breather. 5. Incyte (INCY) downgraded to Sector Perform from Outperform at RBC Capital with analyst Brian Abrahams noting that as he previously suggested, the market overreacted to the setbacks suffered by the company's epacadostat and baricitini programs when he also forecasted a rally to reflect the "substantial Jakafi growth opportunity through its out-year patent cliff". This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ZG Zillow
$59.04

0.89 (1.53%)

08/07/18
SPHN
08/07/18
NO CHANGE
Target $62
SPHN
Overweight
Zillow 'hiccups' provide buying opportunity, says Stephens
Stephens analyst John Campbell said Zillow's (ZG) core business continues to perform nicely despite the early growing pains seen in its new Homes business. He sees "some hiccups" triggering the guidance decrease and remains highly upbeat on Zillow over the long-term, recommending that investors use the weakness as a buying opportunity. He lowered his price target on the stock to $62 from $64 but maintains an Overweight rating on Zillow, whose Class A shares are down $9.50, or 16%, to $49.50 in pre-market trading.
08/07/18
DADA
08/07/18
NO CHANGE
Target $52
DADA
Neutral
Zillow price target lowered to $52 from $57 at DA Davidson
DA Davidson analyst Tom White lowered his price target on Zillow to $52 and kept his Neutral rating after its Q2 results, saying that while its Premier Agent and Mortgages units topped expectations, Rentals and other IMT segment revenues disappointed. White states that Zillow's Homes segment saw the biggest impact toward the downside revision of the overall revenue outlook, while its profitability forecast was also driven lower by its incremental headcount needs. The analyst also notes that the weakness in Rentals was surprising, with the company prioritizing the long-term product improvements over near-term traffic performance and lead generation.
08/07/18
JEFF
08/07/18
NO CHANGE
Target $52
JEFF
Hold
Zillow price target lowered to $52 from $60 at Jefferies
Jefferies analyst Brent Thill lowered his price target for Zillow to $52 saying that while the Q2 results were inline, the "shocker" came from the company reducing fiscal guidance in three of its five businesses, or Homes, Rentals, Other. The guidance revisions highlight the company's near-term forecasting issues rather than a fundamental flaw in the business, Thill tells investors in a post-earnings research note titled "Over their Water Ski Tips." The analyst continues to await a better entry point before getting more constructive on Zillow shares.
08/07/18
RBCM
08/07/18
NO CHANGE
Target $46
RBCM
Sector Perform
Zillow price target lowered to $46 from $52 at RBC Capital
RBC Capital analyst Mark Mahaney lowered his price target on Zillow to $46 and kept his Sector Perform rating after its in-line Q2 results and reduced revenue/EBITDA outlook for its core IMT segment and new Homes unit in FY18. The analyst also points to the company's acquisition of Mortgage Lenders in reducing his estimates.
Z Zillow
$58.18

0.6 (1.04%)

08/07/18
BNCH
08/07/18
NO CHANGE
Target $60
BNCH
Buy
Zillow likely down 20% at open after 'miss and lower' report, says Benchmark
Benchmark analyst Daniel Kurnos said Zillow (ZG) missed quarter results and lowered full-year guidance for "the firm time in recent history," leading him to expect the stock to likely be down about 20% on the open following its Q2 report. However, the fact that is guidance does not include expected revenue from the Mortgage Lenders of America acquisition, as well as international expansion plans, give him some hope that the company is back to being conservative with its outlook, Kurnos tells investors. The analyst, who is optimistic that increased seller leads will help continue to drive IMT EBITDA growth of over 30%, keeps a Buy rating on Zillow but lowered his price target on the stock to $60 from $62.
08/07/18
KEYB
08/07/18
NO CHANGE
Target $56
KEYB
Overweight
Zillow price target lowered to $56 from $63 at KeyBanc
KeyBanc analyst Brad Erickson lowered his price target for Zillow to $56 from $63 while reiterating an Overweight rating on the shares. The analyst believes the company's lowered guidance and mortgage origination acquisition create significant noise that should hit the stock, but thinks the company remains best positioned to capture more profit from the real estate transaction through added utility as it explores new ways to move down funnel.

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CTU

Chad Therapeutics, Inc.

$25.26

1.925 (8.25%)

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PCG

PG&E

$44.80

-0.44 (-0.97%)

, EIX

Edison International

$69.24

-0.62 (-0.89%)

15:56
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California plan could let PG&E issue bonds to cover fire damages, Bloomberg says »

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PG&E

$44.80

-0.44 (-0.97%)

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Edison International

$69.24

-0.62 (-0.89%)

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BPY

Brookfield Property

$19.90

-0.19 (-0.95%)

15:55
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Brookfield Property put volume heavy and directionally bearish »

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  • 21

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VERI

Veritone

$11.25

-0.16 (-1.40%)

15:55
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Veritone to hold a conference call »

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  • 20

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CBS

CBS

$53.67

0.45 (0.85%)

15:46
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Court revives copyright suit against CBS over pre-1972 recordings, Reuters says »

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TSLA

Tesla

$304.35

-0.98 (-0.32%)

15:42
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Periodicals
Some Tesla suppliers worry about getting paid, WSJ reports »

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  • 29

    Oct

FIT

Fitbit

$6.02

0.315 (5.52%)

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NDSN

Nordson

$134.72

-0.07 (-0.05%)

15:34
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Options
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  • 21

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GOOG

Alphabet

$1,207.00

7.21 (0.60%)

, GOOGL

Alphabet Class A

$1,222.10

6.6 (0.54%)

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Alphabet

$1,207.00

7.21 (0.60%)

GOOGL

Alphabet Class A

$1,222.10

6.6 (0.54%)

IMAX

Imax

$22.80

0.4 (1.79%)

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STAA

STAAR Surgical

$42.05

1.1 (2.69%)

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STAAR Surgical management to meet with William Blair »

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SRI

Stoneridge

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0.39 (1.21%)

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DVA

DaVita

$72.44

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ALTR

Altair

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CBOE

Cboe Global Markets

$98.72

2.96 (3.09%)

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FANH

Fanhua

$25.76

0.53 (2.10%)

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  • 20

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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$NYE

NYSE Market Internals

$0.00

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XRAY

Dentsply Sirona

$38.84

0.17 (0.44%)

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STZ

Constellation Brands, also tag STZ.B

$202.74

-1.16 (-0.57%)

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  • 28

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LCI

Lannett

$5.43

-8.075 (-59.81%)

, AMRX

Amneal Pharmaceuticals

$23.86

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$5.43

-8.075 (-59.81%)

AMRX

Amneal Pharmaceuticals

$23.86

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