LendingClub (LC) IPO Prices at $15, Above Expected Range
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Go back to LendingClub (LC) IPO Prices at $15, Above Expected Range
December 11, 2014 10:40 AM EST
Today's IPO for leading peer-to-peer lender LendingClub (NYSE: LC) opened for trading at $24.75 after pricing its 58 million share IPO at $15 per share, above the expected $12-$14 range, which was recently raised from $10-$12.
Triton Research rates the IPO a 7.60, which was recently revised from 8.05. This versus their average IPO score of 6.57. Meanwhile, BTIG launched pre-IPO coverage on the stock with a Buy rating and $19 price target,... More
December 11, 2014 8:36 AM EST
BTIG starts Lending Club (NYSE: LC) with a Buy rating and price target of $19. The firm noted the following key points:
We believe LC should be able to sustain the rapid pace of revenue growth it has exhibited during the past few years as it expands its platform from prime-based installment loans to other areas of the...
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December 8, 2014 9:51 AM EST
In an amended S-1 filing with the SEC, LendingClub (NYSE: LC) raised the expected price range of its upcoming IPO from $10-$12 to $12-14. The company still plans to sell 57,700,000 shares in the offering, which is expected this week. The stock has been approved for listing on the New York Stock Exchange under the symbol "LC."
Triton Research rates the IPO a 7.60, which was recently revised from 8.05. This versus their average IPO score of 6.57.
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. will act as joint lead book-running managers and as... More
