TREE - LendingTree continues to plunge after revised guidance analysts bearish

LendingTree (TREE) stock prices continued to plunge during the pre-market hours today as analysts remained bearish on the financial services firm after its revised Q2 guidance. Shares were trading ~9% lower pre-market. TREE lowered its Q2 earnings outlook on prevailing interest rate environment and inflation. Now, the company anticipates  Q2 revenue to be in the range of $259M-$264M, below consensus. Also, the annual guidance previously provided is under review. Truist Analyst Youssef Squali lowered the price target on the company to $130 from $185, keeping a Buy rating on the shares. The factors that led to the revised guidance are likely to last a few more quarters as rates continue to climb. However, reset expectations, muted valuation and an active buyback should keep the stock in check, according to Squali. Earlier in the month, William Blair Analyst Cristopher Kennedy had assumed coverage of the company with an Outperform rating and no price target,

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LendingTree continues to plunge after revised guidance, analysts bearish