LendingTree (TREE) Shares Plunge 10% on Revised Q2 Guidance
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June 24, 2022 12:08 PM EDT
Needham & Company analyst Mayank Tandon lowered the price target on Lending Tree (NASDAQ: TREE) to $62.00 (from $105.00) while maintaining a Buy rating.
The analyst commented, "TREE recently pre-announced weak preliminary 2Q22 results, calling for revenue, VMM, and EBITDA to all fall short... More
June 23, 2022 4:16 PM EDT
LendingTree, Inc. (NASDAQ: TREE), the nation's leading online financial services marketplace, today announced revised guidance for the current quarter.
"Our variable marketing model continues to serve us well as difficult economic forces have persisted, and in many instances worsened, so far this year. Despite rapid increases in interest rates, rampant consumer price inflation, and looming recession fears presenting persistent headwinds for some of our operating segments, our diversified business model and strong balance sheet allow us to continue to strengthen our competitive position while navigating shorter-term macro driven challenges," said Doug... More
