1 Growth and Value Stock With 77% Upside in 2023, According to Wall Street
Digital marketplace bank LendingClub (NYSE: LC) has been hit hard this year, with its stock down more than 64% in 2022. LendingClub got caught up in the tech wave last year, resulting in elevated valuations that couldn't survive the rapidly rising interest rate environment.
But the company has come a long way in recent years, acquiring a bank and significantly changing the financial profile of the company to one that is much more profitable. Despite the sell-off this year, Wall Street analysts are still holding price targets that suggest significant upside in 2023. Let's take a look.
LendingClub is an online personal-loan service that customers often use to consolidate credit card debt. At the beginning of 2021, it acquired Radius and effectively became a bank in the process. The acquisition gave LendingClub access to cheaper funding through deposits to originate loans, and being able to originate loans inside the bank meant it didn't have to pay a third party.
Source Fool.com
