NEW YORK (TheStreet) -- Shares of LendingClub Corp.(LC) - Get Report are rising by 3.91% to $8.23 late Thursday afternoon, as Pacific Crest maintained its "overweight" rating on the stock in a bullish analyst note this morning.
The San Francisco-based company provides an online marketplace for connecting borrowers and investors.
The lender is facing headwinds from market turmoil and regulatory, economic and demand worries, but these fears are "overstated," the firm said.
LendingClub reported a 113% year over year growth in the fourth quarter and an annualized loan origination of $8.9 billion, which are indications of a healthy consumer lending space, Pacific Crest noted.
"A $900 billion-plus U.S. revolving debt market is large enough to support multiple winners, in our view," the firm said in an analyst note.
Pacific Crest continues to see potential for the company's shares to double, but lowered its price target today on a more-conservative multiple in wake of the market slowdown. The firm cut its price target to $18 from $23.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D- on LendingClub.
This is driven by a few notable weaknesses, which the team believes should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks it covers.
Among the areas the team feels are negative, one of the most important has been very high debt management risk by most measures.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: LC