On Deck Capital, Inc. (NYSE: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 Saturday. The firm currently has a $5.50 price objective on the credit services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 15.30% from the stock’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. “
Several other equities research analysts have also issued reports on ONDK. BidaskClub raised shares of On Deck Capital from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Jefferies Group LLC reissued a “hold” rating and set a $5.00 target price on shares of On Deck Capital in a research note on Friday, July 14th. Stifel Nicolaus lowered shares of On Deck Capital from a “buy” rating to a “hold” rating and lowered their target price for the stock from $6.00 to $4.50 in a research note on Tuesday, May 9th. FBR & Co lowered their target price on shares of On Deck Capital from $5.50 to $5.00 and set a “mkt perform” rating on the stock in a research note on Monday, May 15th. Finally, ValuEngine raised shares of On Deck Capital from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $5.72.
On Deck Capital (NYSE:ONDK) traded down 1.45% during midday trading on Friday, reaching $4.77. The company’s stock had a trading volume of 466,702 shares. The stock’s 50 day moving average price is $4.57 and its 200-day moving average price is $4.59. On Deck Capital has a one year low of $3.29 and a one year high of $6.46. The stock’s market cap is $348.84 million.
On Deck Capital (NYSE:ONDK) last posted its quarterly earnings results on Monday, August 7th. The credit services provider reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.09. On Deck Capital had a negative net margin of 19.20% and a negative return on equity of 24.09%. The company had revenue of $86.70 million for the quarter, compared to analyst estimates of $88.53 million. During the same period in the prior year, the company earned ($0.25) earnings per share. The firm’s revenue was up 24.7% on a year-over-year basis. On average, analysts forecast that On Deck Capital will post ($0.02) EPS for the current fiscal year.
In related news, Director Bruce P. Nolop purchased 10,000 shares of On Deck Capital stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average price of $3.59 per share, for a total transaction of $35,900.00. Following the transaction, the director now directly owns 77,985 shares in the company, valued at $279,966.15. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Noah Breslow purchased 14,000 shares of On Deck Capital stock in a transaction that occurred on Friday, May 26th. The shares were bought at an average price of $3.57 per share, with a total value of $49,980.00. Following the transaction, the chief executive officer now owns 213,117 shares in the company, valued at $760,827.69. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 39,000 shares of company stock valued at $139,280. Insiders own 25.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EJF Capital LLC increased its position in On Deck Capital by 81.2% in the first quarter. EJF Capital LLC now owns 5,777,030 shares of the credit services provider’s stock valued at $29,116,000 after buying an additional 2,588,550 shares during the period. Vanguard Group Inc. increased its position in On Deck Capital by 7.7% in the first quarter. Vanguard Group Inc. now owns 3,094,022 shares of the credit services provider’s stock valued at $15,593,000 after buying an additional 220,242 shares during the period. Tricadia Capital Management LLC increased its position in On Deck Capital by 8.2% in the first quarter. Tricadia Capital Management LLC now owns 1,233,637 shares of the credit services provider’s stock valued at $6,218,000 after buying an additional 93,643 shares during the period. State Street Corp increased its position in On Deck Capital by 4.0% in the fourth quarter. State Street Corp now owns 714,346 shares of the credit services provider’s stock valued at $3,305,000 after buying an additional 27,493 shares during the period. Finally, Northern Trust Corp increased its position in On Deck Capital by 1.2% in the second quarter. Northern Trust Corp now owns 508,431 shares of the credit services provider’s stock valued at $2,369,000 after buying an additional 6,047 shares during the period. Hedge funds and other institutional investors own 58.41% 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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