By Jerry Kronenberg | Moomoo News
$LendingClub (LC.US)$ rallied nearly 20% intraday Wednesday after the peer-to-peer-loan company beat analyst estimates on Q1 earnings and revenues, prompting at least two analysts to raise their price targets for the stock.
LC rose as much as 18.8% to an $8.93 intraday high after the company reported after the bell Tuesday that it earned $0.11 per share in Q1, reportedly beating analysts’ $0.03 consensus estimate.
The firm also recorded $180.7 million in total net revenue, beating the $173.9 million consensus that analysts had reportedly expected.
Following the earnings release, Keefe, Bruyette & Woods and Piper Sandler both reportedly boosted their LC price targets to $10 a share from a previous $9.50.