2024-02-01 10:54:04 ET
Summary
- LendingClub reported mixed Q4'23 results, but the stock remains undervalued despite growing shareholder value and innovation in the lending marketplace.
- The company has successfully navigated through down cycles and is well-positioned to handle a potential recession in 2024.
- The stock trades below TBV of $10.54 and a minimal multiple of normalized earnings above $1+ per share.
LendingClub ( LC ) reported mixed Q4'23 results with the fintech continuing to pullback from aggressive lending during the weak macro period for investing in consumer credit. The stock continues to trade below tangible book value despite the company growing shareholder value and continuing to innovate in their lending marketplace. My investment thesis remains ultra Bullish on the stock with the market disconnect ongoing even after the 9% rally following earnings....
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LendingClub: Prepared For Better Times