Lending Tree Valuation | 02.22.17Ulysses Hickey

Overview | 1

Overview

LendingTree, Inc. operates a lending business and real estate business. The company originates, processes, approves and funds various types of residential real estates loans and offers residential mortgages loan settlement services. The company also offers access to home equity loans and lines of credit, personal loans, business loans and auto loans.

Strategic Rational

JIF’s Demands • Greater Exposure to the Financials

sector • Avoid rising interest rate

environmental risks• Invest in forward thinking institutions

with bordering and flexible applications

Leading Tree Attributes• Exposed to financials sector • Diversified product platform limiting

rising rate risks • Technologically appealing to

millennials,1/3 of US workforce • Ease of use

Strategic Rational | 2

Company Strategy | 3

Company Evolution | 4

Company Partners | 5

Company Revenue | 6

Non-Mortgage Categories Diversifying Revenue

Non-Mortgage Products | 7

Analyst Estimates and Insider Transactions | 8

5/5 – Strong buy (Notable Oppenheimer & Co. 12M-$125)

Insider Transactions Notable: Douglas Lebda OMS 4000 Shares (Possible Negative implication)

Possible retracement via EW 5 Peak, trading volume above average, Trading Above Cloud

Technical Analysis | 9

TREE Vs. SML Index & S6THMF

Index Comparison | 10

TREE Vs. VFH

Index Comparison | 11

Open Calls | 12

Open Puts | 13

Acquisition OverviewConfidence • Very strong FCF growth, Strong and consistent

revenue growth, Company Guidance $500-$520 revenue growth for 2017

• 5/5 Analyst recommendation strong buy (Notably Oppenheimer & Co. 12M Px $125)

• 44% Non- Mortgage based revenue

• Index comparison yields strong performance

• Call/Put Open interest combine over 1000 contracts open X=115-135,currently trading at 113.44. Indicates Strong Bull sentiment

• BlackRock (Notable Holder)

Concern • Douglas Lebda,CEO Open Market Sales 4000

Shares 02/05/17

• Can revenue Growth keep up in rising rate environment

• Technical Analysis suggests Semi-Overbought

Open Puts | 14

Bottom Line Fast Paced growth company 12 month price target of $125.16 10.81% UpsidePerpetuity Growth Method Strong Buy at 3.5%

Bottom Line | 15