LendingClub soars 20% after Q3 rev beat, JP Morgan upgrade

Happen

23/10/2025 16:45

** Shares of consumer lender LendingClub LC.N up 8.4% to $17.91 on Thurs after Q3 rev surpassed expectations and JP Morgan turned bullish

** LC soars as much as 20.3% to $19.88, highest since Feb 2022. About 6 mln shares have traded so far, 3.5x stock's 10-DMA volume, per LSEG

** San Francisco, California-based firm late Weds said rev rose 32% yr/yr to $266.2 mln, above consensus view of $256.4 mln

** Q3 loan originations grew 37% from a year ago to $2.6 bln, and pre-provision net revenue (PPNR) increased 58% to $103.5 mln

** JP Morgan upgraded LC to 'overweight' from 'neutral' and boosted PT by $5 to $22, highest on Wall Street, saying LC "approaching an inflection"

** Loan buyer demand remains strong, JPM said, pointing to co's $1 bln funding agreement with BlackRock BLK.N, adding that increased marketing efforts are "already bearing fruit, which is especially encouraging"

** KBW raised its PT by $1 to $20

** Now, 9 of 11 brokerages rate LC "strong buy" or "buy", rest rate "hold"; median PT is $20

** With move on Thurs, LC up ~11% YTD including ~36% gain over the past three months

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))