#3 - Lending Club (NYSE:LC)
Lending Club Corporation (NYSE: LC) is an online lender that specializes in unsecured personal loans. It's not a student loan provider, but it may fill a valuable niche as borrowers look to refinance high-interest loans. The company's business model allows borrowers to take a personal loan of up to $40,000 for virtually any reason.
And in 2023, there could be several reasons. Even if borrowers don't want or need to refinance their student loans, they may seek to consolidate their burgeoning credit card debt.
This theory may be playing out in the company's earnings forecast, which shows a 25% gain in the next 12 months. Analysts are even more bullish, forecasting a 98.9% upside for the stock.
That would be welcome news for Lending Club, which has seen a sharp YOY decline on the top line and bottom line in the last two quarters. The stock is also down 31% in 2023 and 13% in the 30 days ending October 2, 2023.
About LendingClub
LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.
More- Current Price
- $13.52
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $16.38 (21.2% Upside)
