On Deck Capital Inc. (ONDK) Stock Rating Upgraded by Zacks Investment Research
On Deck Capital Inc. (NYSE:ONDK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $6.00 price objective on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 10.29% from the company’s previous close.
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 equities research analysts have also 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 target on the stock. Janney Montgomery Scott initiated coverage on On Deck Capital in a research report on Thursday, July 7th. They set a “buy” rating and a $4.89 price target on the stock. Vetr lowered On Deck Capital from a “strong-buy” rating to a “buy” rating and set a $5.81 price target on the stock. in a research report on Wednesday, July 27th. Stifel Nicolaus restated a “buy” rating and set a $7.50 price target (down from $10.00) on shares of On Deck Capital in a research report on Tuesday, August 9th. Finally, Canaccord Genuity restated a “hold” rating and set a $6.00 price target on shares of On Deck Capital in a research report on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. On Deck Capital currently has an average rating of “Hold” and an average target price of $8.04.
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On Deck Capital (NYSE:ONDK) opened at 5.44 on Tuesday. On Deck Capital has a 1-year low of $4.20 and a 1-year high of $12.85. The company’s market cap is $385.82 million. The stock’s 50 day moving average price is $5.97 and its 200 day moving average price is $5.88.
On Deck Capital (NYSE:ONDK) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.04. On Deck Capital had a negative return on equity of 9.58% and a negative net margin of 11.75%. The company had revenue of $69.50 million for the quarter, compared to analyst estimates of $67.83 million. During the same period in the previous year, the company posted $0.10 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts anticipate that On Deck Capital will post ($0.65) earnings per share for the current fiscal year.
In other On Deck Capital news, CFO Howard Katzenberg sold 24,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was 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 $2,031,311.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 35.80% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its stake in shares of On Deck Capital by 81.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 128,006 shares of the company’s stock worth $660,000 after buying an additional 57,564 shares during the last quarter. Elk Creek Partners LLC boosted its stake in shares of On Deck Capital by 15.3% in the second quarter. Elk Creek Partners LLC now owns 1,492,813 shares of the company’s stock worth $7,688,000 after buying an additional 197,732 shares during the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in shares of On Deck Capital during the second quarter worth approximately $195,000. Clearline Capital LP bought a new stake in shares of On Deck Capital during the second quarter worth approximately $3,680,000. Finally, G2 Investment Partners Management LLC bought a new stake in shares of On Deck Capital during the second quarter worth approximately $224,000. Institutional investors and hedge funds 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.
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