On Deck Capital Inc. (ONDK) Upgraded by Zacks Investment Research to “Buy”
On Deck Capital Inc. (NYSE:ONDK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $6.00 price target on the stock. Zacks Investment Research’s price objective suggests a potential upside of 10.29% from the company’s current price.
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 analysts have also issued reports on the stock. Vetr upgraded shares of On Deck Capital from a “buy” rating to a “strong-buy” rating and set a $5.75 price objective on the stock in a report on Tuesday, August 2nd. FBR & Co cut their price target on shares of On Deck Capital from $6.50 to $6.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 9th. 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. Jefferies Group reiterated a “hold” rating on shares of On Deck Capital in a research note on Monday, July 11th. Finally, Oppenheimer Holdings Inc. assumed coverage on shares of On Deck Capital in a research note on Thursday, August 4th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $8.04.
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On Deck Capital (NYSE:ONDK) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. The firm had revenue of $69.50 million for the quarter, compared to analysts’ expectations of $67.83 million. On Deck Capital had a negative net margin of 11.75% and a negative return on equity of 9.58%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.
In other news, CFO Howard Katzenberg sold 24,000 shares of the 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 completion of the sale, the chief financial officer now directly owns 388,396 shares of the company’s stock, valued at $2,031,311.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 35.80% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of ONDK. State Street Corp increased its stake in On Deck Capital by 7.2% in the first quarter. State Street Corp now owns 181,899 shares of the company’s stock valued at $1,419,000 after buying an additional 12,288 shares during the last quarter. BlackRock Advisors LLC increased its stake in 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 last quarter. Geode Capital Management LLC increased its stake in On Deck Capital by 7.2% in the first quarter. Geode Capital Management LLC now owns 227,683 shares of the company’s stock valued at $1,773,000 after buying an additional 15,344 shares during the last quarter. Parametric Portfolio Associates LLC purchased a new stake in On Deck Capital during the second quarter valued at $107,000. Finally, American International Group Inc. increased its stake in On Deck Capital by 307.3% in the second quarter. American International Group Inc. now owns 27,624 shares of the company’s stock valued at $142,000 after buying an additional 20,842 shares during the last quarter. 79.33% of the stock is owned by institutional investors and hedge funds.
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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