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Mark Holder

Bottom In Lending Club?

Along with most hot IPO stocks of the last couple of years, LendingClub (LC) has been crushed with the stock down some 70% from the highs when hitting the low of $6.68 today. 

The stock is actually now up on the day with the market still down 2.5%. The online lending platform forecast revenues growing roughly 70% in 2016 to $715 million. With the current market cap near $3 billion, LendingClub is finally interesting from a valuation point. 

The market will likely question whether the growth rate is sustainable or even achievable in a weak economy, but the stock is easily justified at the current price if growth maintains in the 30%+ range.

Disclosure: No position 

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