Lending stocks down after JPMorgan downgrades fintech players [Yahoo! Finance]
LendingClub Corporation (LC)
Last lendingclub corporation earnings: 2/18 04:06 pm
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Source: Yahoo! Finance
concerns over valuations, even as it forecasted a more favourable lending environment in 2025 driven by lower interest rates and improved funding conditions. Upstart (NASDAQ:UPST) Holdings dropped 11% after JPMorgan cut its rating to "underweight" from "neutral." The brokerage raised its price target on the AI-powered lending platform to $57 from $45, which is a 28% downside from the stock's last close. JPMorgan said while loan funding is expected to improve next year, Upstart's current valuation, trading at nine times forward sales, already reflects those prospects. Upstart shares have gained more than 90% so far this year. However, JPMorgan noted that the company was handling roughly $13 billion in annualized transaction volume the last time its stock traded above $70, eight times its current run rate. LendingClub (NYSE:LC), down more than 6% on Monday, also downgraded, with JPMorgan lowering its rating to "neutral" from "overweight" in favor of faster-growing peers. In co
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News
- Savings Rates Are Falling, but There's Still Time to Grab a 5% APY. Today's Savings Rates, Dec. 3, 2024 [CNET News]CNET News
- LendingClub Co. (NYSE: LC) had its "neutral" rating re-affirmed by analysts at JPMorgan Chase & Co.. They now have a $17.00 price target on the stock, up previously from $14.00.MarketBeat
- Yes, You Can Still Find a 5% Savings Account. Today's Savings Rates, Dec. 2, 2024 [CNET News]CNET News
- ‘Buy now, pay later' is more popular than ever. It can cost more than you think [Los Angeles Times (CA)]Los Angeles Times
- There's Only One 5% Savings Account Left. Today's Daily Savings Rates, Nov. 29, 2024 [CNET News]CNET News
LC
Earnings
- 10/23/24 - Beat
LC
Sec Filings
- 11/27/24 - Form 4
- 11/27/24 - Form 4
- 11/27/24 - Form 4
- LC's page on the SEC website