This Growth Stock Is Up More Than 340% in 2021 --- and It Can Still Double From Here
LendingClub's (NYSE: LC) stock price has ballooned by almost 50% since the digital marketplace bank released its second consecutive terrific quarterly report last week. For the third quarter, the company took in diluted earnings per share of $0.27 on total revenue of roughly $246 million. Loan originations, its main revenue driver, topped $3.1 billion, even during a period when consumer activity was disrupted by a surge in COVID-19 cases.
The results beat not only analysts' consensus estimates but also the company's own guidance, and management revised its full-year guidance upward. It's easy to see why investors have driven LendingClub's stock up by more than 340% this year through Wednesday's close. But I still think the stock is cheap and can definitely double again from here.
Earlier this year, LendingClub closed on its acquisition of the branchless Radius Bank. That deal made LendingClub one of a very few fintech companies to hold a bank charter -- and acquiring one of those is not easy.
Source Fool.com
