Can LendingClub Stock Keep Going After Last Week's 15% Pop?
One of the biggest duds of the 2014 IPO class is showing signs of life, but it probably won't be enough to stop it from closing lower for the third year in a row. Shares of LendingClub (NYSE: LC) rose 14.8% after yet another analyst suggested that better times may be ahead for the peer-to-peer consumer lender. A prominent investor also increased his stake in the dot-com laggard.
Michael Diana at Maxim lowered his price target on the stock from $8 to $6 on Monday, a move that may seem like a negative development, but it's actually pretty bullish, with the stock closing at $3.51 the week before. Diana's new price goal suggests a hearty 71% of upside. The wealthy investor taking a bigger bite out of LendingClub was Chinese billionaire Chen Tianqiao, who raised his investment group's stake on Wednesday from 18.8% to 20.2%. He initiated an 11.7% position during the springtime of last year, beefing it up along the way.
Image source: LendingClub.
Source: Fool.com
LendingClub Corp. Stock
We see a rather positive sentiment for LendingClub Corp. with 10 Buy predictions and 1 Sell predictions.
With a target price of 10 € there is a positive potential of 28.27% for LendingClub Corp. compared to the current price of 7.8 €.
