On Deck Capital Inc. (ONDK) Cut to Sell at Zacks Investment Research
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. “
Several other equities research analysts have also weighed in on the stock. Vetr upgraded shares of On Deck Capital from a buy rating to a strong-buy rating and set a $6.60 price objective on the stock in a research note on Monday, October 3rd. Guggenheim assumed coverage on shares of On Deck Capital in a research note on Tuesday, September 20th. They set a neutral rating on the stock. FBR & Co increased their price objective on shares of On Deck Capital from $6.00 to $6.50 and gave the stock a mkt perform rating in a research note on Friday, September 16th. Keefe, Bruyette & Woods reiterated a market perform rating and set a $7.00 price objective on shares of On Deck Capital in a research note on Thursday, September 15th. Finally, Janney Montgomery Scott reiterated a fair value rating and set a $6.12 price objective (down previously from $7.00) on shares of On Deck Capital in a research note on Wednesday, August 24th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $8.04.
On Deck Capital (NYSE:ONDK) opened at 4.63 on Wednesday. On Deck Capital has a 12-month low of $4.20 and a 12-month high of $12.85. The stock’s market cap is $328.37 million. The firm’s 50-day moving average price is $5.81 and its 200-day moving average price is $5.80.
On Deck Capital (NYSE:ONDK) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.04. The firm had revenue of $69.50 million for the quarter, compared to analyst estimates of $67.83 million. On Deck Capital had a negative net margin of 11.75% and a negative return on equity of 9.58%. On Deck Capital’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. On average, equities analysts predict that On Deck Capital will post ($0.65) EPS 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 shares were sold at an average price of $5.23, for a total value of $125,520.00. Following the completion of the sale, the chief financial officer now owns 388,396 shares in the company, valued at approximately $2,031,311.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 35.80% of the company’s stock.
Large investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC purchased a new stake in shares of On Deck Capital during the second quarter valued at approximately $107,000. Nisa Investment Advisors LLC purchased a new stake in shares of On Deck Capital during the second quarter valued at approximately $118,000. BlackRock Advisors LLC increased 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 valued at $121,000 after buying an additional 13,905 shares during the period. Board of Trustees of The Leland Stanford Junior University purchased a new stake in shares of On Deck Capital during the second quarter valued at approximately $124,000. Finally, KCG Holdings Inc. purchased a new stake in shares of On Deck Capital during the second quarter valued at approximately $137,000. Institutional investors and hedge funds own 79.34% of the company’s stock.
About On Deck Capital
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.
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