LendingClub Corporation (LC) : Traders are bullish on LendingClub Corporation (LC) as it has outperformed the S&P 500 by a wide margin of 24.01% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.7%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.67% in the last 1 week, and is up 24.49% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
LendingClub Corporation is up 37.59% in the last 3-month period. Year-to-Date the stock performance stands at -50.32%. The stock has recorded a 20-day Moving Average of 11.78% and the 50-Day Moving Average is 17.35%.
LendingClub Corporation (NYSE:LC): The stock opened at $5.58 on Friday but the bulls could not build on the opening and the stock topped out at $5.60 for the day. The stock traded down to $5.43 during the day, due to lack of any buying support eventually closed down at $5.49 with a loss of -1.79% for the day. The stock had closed at $5.59 on the previous day. The total traded volume was 8,653,330 shares.
Also, In a research note released to the investors, Credit Suisse maintains its rating on LendingClub Corporation (NYSE:LC).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Credit Suisse lowers the new price target from $9 per share to $7 per share. The rating by the firm was issued on August 9, 2016.
LendingClub Corporation (Lending Club) is engaged in providing online marketplace for connecting borrowers and investors. The Companys online marketplace connects borrowers. Lending Clubs marketplace allows borrowers and investors to engage in transactions relating to standard or custom program loans. The Companys standard program loans are a part of the standard loan program. The standard program loans are three- or five-year unsecured personal loans which are offered to borrowers. These loans can be invested in through the purchase of notes issued pursuant to a Note Registration Statement, and are available through the Companys Website. The custom program loans include small business loans, super prime consumer loans, education and patient finance loans and personal loans. The Companys technology platform supports its marketplace and makes available loan products to investor channels.