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 research report issued on Tuesday. The brokerage presently has a $6.00 target price on the stock. Zacks Investment Research’s target price suggests 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 analysts have also recently issued reports about the company. Chardan Capital assumed coverage on On Deck Capital in a report on Thursday, August 4th. They issued a “buy” rating and a $5.08 target price on the stock. JPMorgan Chase & Co. reduced their target price on On Deck Capital from $8.00 to $6.50 and set a “neutral” rating on the stock in a report on Tuesday, August 9th. Vetr upgraded On Deck Capital from a “buy” rating to a “strong-buy” rating and set a $5.95 target price on the stock in a report on Tuesday, July 19th. FBR & Co reiterated a “market perform” rating and issued a $6.50 target price on shares of On Deck Capital in a report on Monday, June 13th. Finally, Janney Montgomery Scott assumed coverage on On Deck Capital in a report on Thursday, July 7th. They issued a “buy” rating and a $4.89 target price on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. On Deck Capital has an average rating of “Hold” and an average price target of $8.04.
Shares of On Deck Capital (NYSE:ONDK) opened at 5.44 on Tuesday. The firm’s market capitalization is $385.82 million. The stock has a 50 day moving average of $5.97 and a 200-day moving average of $5.88. On Deck Capital has a 12-month low of $4.20 and a 12-month high of $12.85.
On Deck Capital (NYSE:ONDK) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.20) earnings per share (EPS) 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 earned $69.50 million during the quarter, compared to the consensus estimate of $67.83 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that On Deck Capital will post ($0.65) EPS for the current fiscal year.
In other news, CFO Howard Katzenberg sold 24,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $5.23, for a total transaction 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 approximately $2,031,311.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 35.80% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC acquired a new stake in shares of On Deck Capital during the second quarter valued at about $107,000. Nisa Investment Advisors LLC acquired a new stake in shares of On Deck Capital during the second quarter valued at about $118,000. 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 in the last quarter. Board of Trustees of The Leland Stanford Junior University acquired a new stake in shares of On Deck Capital during the second quarter valued at about $124,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of On Deck Capital during the first quarter valued at about $201,000. 79.33% of the stock is owned by hedge funds and other institutional investors.
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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