On Deck Capital Inc. (ONDK) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of On Deck Capital Inc. (NYSE:ONDK) from a hold rating to a buy rating in a report released on Tuesday. Zacks Investment Research currently has $6.00 price target on the stock.
According to Zacks, “On Deck Capital, Inc. is an on-line platform that uses a big data, analytic model to source, underwrite, and fund loans to small businesses. The Company offers online tools and resources including data aggregation and electronic payment technology, and to evaluate the health of small businesses. It’s small business loans include dental loans, restaurant loans, medical financing, restaurant financing, fast small business loans, fast small business financing, online small business loans, online applications for small business loans, small business loans online, retail capital, fast small business financing, short-term business loans, business equipment financing, small business equipment financing and merchant cash advance. On Deck Capital Inc. is based in United States. “
Other research analysts have also recently issued reports about the company. Chardan Capital initiated coverage on On Deck Capital in a research report on Thursday, August 4th. They set a buy rating and a $5.08 price objective for the company. Janney Montgomery Scott began coverage on On Deck Capital in a report on Thursday, July 7th. They issued a buy rating and a $4.89 target price for the company. Vetr downgraded On Deck Capital from a strong-buy rating to a buy rating and set a $5.81 target price for the company. in a report on Wednesday, July 27th. Stifel Nicolaus reissued a buy rating and issued a $7.50 target price (down from $10.00) on shares of On Deck Capital in a report on Tuesday, August 9th. Finally, Canaccord Genuity reissued a hold rating and issued a $6.00 target price on shares of On Deck Capital in a report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. On Deck Capital has an average rating of Hold and an average price target of $8.04.
Shares of On Deck Capital (NYSE:ONDK) opened at 4.91 on Tuesday. The firm has a 50-day moving average price of $5.89 and a 200 day moving average price of $5.86. On Deck Capital has a one year low of $4.20 and a one year high of $12.85. The firm’s market capitalization is $348.23 million.
On Deck Capital (NYSE:ONDK) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.04. The business earned $69.50 million during the quarter, compared to analysts’ expectations of $67.83 million. On Deck Capital had a negative return on equity of 9.58% and a negative net margin of 11.75%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. Equities analysts forecast that On Deck Capital will post ($0.65) earnings per share for the current fiscal year.
In related news, CFO Howard Katzenberg sold 24,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $5.23, for a total value of $125,520.00. Following the sale, the chief financial officer now owns 388,396 shares in the company, valued at approximately $2,031,311.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 35.80% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its stake in shares of On Deck Capital by 10.9% in the third quarter. Nisa Investment Advisors LLC now owns 25,500 shares of the company’s stock worth $145,000 after buying an additional 2,500 shares during the period. State Street Corp boosted its stake in shares of On Deck Capital by 7.2% in the first quarter. State Street Corp now owns 181,899 shares of the company’s stock worth $1,419,000 after buying an additional 12,288 shares during the period. BlackRock Advisors LLC boosted its stake in shares of On Deck Capital by 146.1% in the second quarter. BlackRock Advisors LLC now owns 23,420 shares of the company’s stock worth $121,000 after buying an additional 13,905 shares during the period. Geode Capital Management LLC boosted its stake in shares of On Deck Capital by 7.2% in the first quarter. Geode Capital Management LLC now owns 227,683 shares of the company’s stock worth $1,773,000 after buying an additional 15,344 shares during the period. Finally, Parametric Portfolio Associates LLC bought a new stake in shares of On Deck Capital during the second quarter worth approximately $107,000. Hedge funds and other institutional investors own 79.33% of the company’s stock.
On Deck Capital Company Profile
On Deck Capital, Inc offers an online platform for small business lending. The Company’s platform aggregates and analyzes data points from disparate data sources to assess the creditworthiness of small businesses. Small businesses apply for a term loan or line of credit on the Company’s Website, and using its OnDeck Score, the Company makes a funding decision and transfers the funds.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for On Deck Capital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for On Deck Capital Inc. and related companies with MarketBeat.com's FREE daily email newsletter.