On Deck Capital, Inc. (NYSE:ONDK) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of On Deck Capital, Inc. (NYSE:ONDK) from a hold rating to a buy rating in a research report report published on Tuesday, July 11th. The brokerage currently has $5.25 price objective on the credit services provider’s stock.
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. “
ONDK has been the topic of several other reports. FBR & Co dropped their target price on On Deck Capital from $5.50 to $5.00 and set a mkt perform rating on the stock in a report on Monday, May 8th. Stifel Nicolaus assumed coverage on On Deck Capital in a report on Wednesday, April 19th. They set a buy rating and a $6.00 price objective on the stock. Jefferies Group LLC dropped their price objective on On Deck Capital from $5.40 to $5.00 and set a hold rating on the stock in a report on Wednesday, May 10th. Finally, ValuEngine upgraded On Deck Capital from a strong sell rating to a sell rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and an average target price of $5.77.
Shares of On Deck Capital (ONDK) traded up 18.48% during midday trading on Tuesday, hitting $5.00. 2,794,646 shares of the stock traded hands. The stock’s market cap is $362.42 million. On Deck Capital has a 12-month low of $3.29 and a 12-month high of $6.46. The company’s 50 day moving average price is $4.49 and its 200-day moving average price is $4.59.
On Deck Capital (NYSE:ONDK) last announced its earnings results on Monday, August 7th. The credit services provider reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04. The business had revenue of $86.70 million for the quarter, compared to the consensus estimate of $88.53 million. On Deck Capital had a negative return on equity of 28.89% and a negative net margin of 25.33%. The company’s revenue was up 24.7% on a year-over-year basis. During the same period last year, the business posted ($0.25) EPS. On average, equities research analysts expect that On Deck Capital will post ($0.03) EPS for the current year.
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In other news, Director Bruce P. Nolop acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were bought at an average price of $3.59 per share, with a total value of $35,900.00. Following the purchase, the director now owns 77,985 shares of the company’s stock, valued at $279,966.15. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Noah Breslow acquired 14,000 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was purchased at an average cost of $3.57 per share, for a total transaction of $49,980.00. Following the purchase, the chief executive officer now directly owns 213,117 shares in the company, valued at approximately $760,827.69. The disclosure for this purchase can be found here. Insiders have acquired a total of 39,000 shares of company stock valued at $139,280 in the last quarter. 25.40% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of ONDK. Schwab Charles Investment Management Inc. increased its stake in On Deck Capital by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 158,009 shares of the credit services provider’s stock worth $737,000 after buying an additional 931 shares in the last quarter. American International Group Inc. increased its stake in On Deck Capital by 7.0% in the first quarter. American International Group Inc. now owns 29,534 shares of the credit services provider’s stock worth $149,000 after buying an additional 1,940 shares in the last quarter. Rhumbline Advisers increased its stake in On Deck Capital by 13.0% in the second quarter. Rhumbline Advisers now owns 57,682 shares of the credit services provider’s stock worth $269,000 after buying an additional 6,620 shares in the last quarter. Alpine Woods Capital Investors LLC increased its stake in On Deck Capital by 40.0% in the second quarter. Alpine Woods Capital Investors LLC now owns 35,010 shares of the credit services provider’s stock worth $163,000 after buying an additional 10,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in On Deck Capital by 8.2% in the first quarter. Bank of New York Mellon Corp now owns 198,316 shares of the credit services provider’s stock worth $1,000,000 after buying an additional 14,957 shares in the last quarter. 58.41% of the stock is currently owned by 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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