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4-Traders Homepage  >  Equities  >  Nyse  >  LendingClub Corp    LC

LENDINGCLUB CORP (LC)
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LendingClub shares take a hit from disappointing forecast

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12/07/2017 | 07:31pm CEST
FILE PHOTO - A woman looks at her phone as she passes by a Lending Club banner on the facade of the the New York Stock Exchange

(Reuters) - Shares of LendingClub Corp (>> LendingClub Corp) hit a record low on Thursday after the online lender raised its loss estimate and cut its revenue forecast for the fourth quarter.

(Reuters) - Shares of LendingClub Corp (>> LendingClub Corp) hit a record low on Thursday after the online lender raised its loss estimate and cut its revenue forecast for the fourth quarter.

Shares of the company fell as much as 22.6 percent to $3.29 and were among the top losers on the New York Stock Exchange,

The company said it now expected revenue in the range of $155 million to $160 million, below its earlier estimate of $158 million to $163 million. (http://bit.ly/2nB4aU9f).

Net loss is expected to range between $6 million and $10 million, compared with its previous loss forecast of $3 million to $7 million.

LendingClub has been trying to recover after an internal probe last year found the company had falsified documentation when selling $22 million of loans to an investor.

The incident led to the ouster of Chief Executive Renaud Laplanche and gave bad press to the nascent industry.

However, the entry of Square Inc (>> Square Inc), which is headed by Twitter Inc <TWTR.O> CEO Jack Dorsey, into the online lending industry earlier this year has generated new interest in these companies.

(Reporting by Diptendu Lahiri in Bengaluru)

Stocks treated in this article : Twitter, LendingClub Corp, Square Inc
Stocks mentioned in the article
ChangeLast1st jan.
SQUARE INC -0.03% 66.95 Delayed Quote.93.11%
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Financials ($)
Sales 2018 688 M
EBIT 2018 40,4 M
Net income 2018 -59,0 M
Finance 2018 487 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 2,01x
EV / Sales 2019 1,60x
Capitalization 1 872 M
Chart LENDINGCLUB CORP
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LendingClub Corp Technical Analysis Chart | LC | US52603A1097 | 4-Traders
Technical analysis trends LENDINGCLUB CORP
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 4,98 $
Spread / Average Target 12%
EPS Revisions
Managers
NameTitle
Scott C. Sanborn Chief Executive Officer & Director
Steve Allocca President
John C. Morris Independent Chairman
Sameer Gulati Chief Operating Officer
Thomas W. Casey Chief Financial Officer
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