Why LendingClub's Stock Is Surging Higher Today

LendingClub Corporation LC shares are trading higher after the company reported better-than-expected Q2 EPS and sales results and issued guidance.

The company reported second quarter earnings per share results of 9 cents which beat the analyst estimate of a loss of 43 cents and sales results of $204.40 million which beat the $134.55 million estimate.

The company issued third quarter sales guidance in the range of $215 million and $230 million which is above the $144.55 million estimate and full-year 2021 sales guidance in the range of $750 million to $780 million which is above the $542.96 million estimate.

LendingClub Corp is a company engaged in operating an online lending marketplace platform that connects borrowers and investors for the provision of the loan facility.

LendingClub's stock was trading about 55% higher at $25.15 per share on Thursday. The stock has a 52-week high of $25.70 and a 52-week low of $4.32.