On Deck Capital Inc. (ONDK) Downgraded by Zacks Investment Research to Sell
On Deck Capital Inc. (NYSE:ONDK) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Wednesday.
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. “
A number of other research firms have also commented on ONDK. Vetr raised shares of On Deck Capital from a “hold” rating to a “buy” rating and set a $6.60 price objective for the company in a research note on Monday, September 26th. Janney Montgomery Scott reiterated a “fair value” rating and issued a $6.12 target price (down previously from $7.00) on shares of On Deck Capital in a research report on Wednesday, August 24th. Jefferies Group reiterated a “hold” rating and issued a $6.50 target price on shares of On Deck Capital in a research report on Monday, July 25th. FBR & Co cut their target price on shares of On Deck Capital from $6.50 to $6.00 and set a “market perform” rating for the company in a research report on Tuesday, August 9th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $6.00 target price on shares of On Deck Capital in a research report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. On Deck Capital has a consensus rating of “Hold” and a consensus price target of $8.04.
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On Deck Capital (NYSE:ONDK) opened at 5.22 on Wednesday. The company has a 50-day moving average price of $5.95 and a 200 day moving average price of $5.88. On Deck Capital has a 12 month low of $4.20 and a 12 month high of $12.85. The firm’s market cap is $370.22 million.
On Deck Capital (NYSE:ONDK) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. On Deck Capital had a negative net margin of 11.75% and a negative return on equity of 9.58%. The firm earned $69.50 million during the quarter, compared to analyst estimates of $67.83 million. During the same quarter last year, the business posted $0.10 EPS. The company’s revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that On Deck Capital will post ($0.65) EPS for the current year.
In related news, CFO Howard Katzenberg sold 24,000 shares of On Deck Capital stock in a transaction 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 transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 35.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. State Street Corp raised 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 valued at $1,419,000 after buying an additional 12,288 shares during the period. BlackRock Advisors LLC raised 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. Geode Capital Management LLC raised 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 valued at $1,773,000 after buying an additional 15,344 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in shares of On Deck Capital during the second quarter valued at $107,000. Finally, American International Group Inc. raised its stake in shares of 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 period. Institutional investors own 79.33% 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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