On Deck Capital’s (ONDK) “Hold” Rating Reaffirmed at Canaccord Genuity
Canaccord Genuity reiterated their hold rating on shares of On Deck Capital, Inc. (NYSE:ONDK) in a research report released on Sunday morning. Canaccord Genuity currently has a $5.00 target price on the credit services provider’s stock.
A number of other equities analysts have also recently issued reports on ONDK. Zacks Investment Research upgraded shares of On Deck Capital from a hold rating to a buy rating and set a $5.50 price objective for the company in a research report on Saturday, August 12th. Jefferies Group LLC reissued a hold rating and issued a $5.00 price objective on shares of On Deck Capital in a research note on Friday, July 14th. Finally, BidaskClub upgraded shares of On Deck Capital from a strong sell rating to a sell rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $5.27.
Shares of On Deck Capital (NYSE:ONDK) traded up 1.50% during trading on Friday, hitting $4.74. 155,239 shares of the company’s stock were exchanged. On Deck Capital has a 1-year low of $3.29 and a 1-year high of $5.88. The stock’s 50-day moving average price is $4.69 and its 200-day moving average price is $4.48. The stock’s market cap is $346.65 million.
On Deck Capital (NYSE:ONDK) last posted its earnings results on Monday, August 7th. The credit services provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $86.70 million during the quarter, compared to analysts’ expectations of $88.53 million. During the same quarter in the prior year, the business earned ($0.25) earnings per share. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, equities analysts expect that On Deck Capital will post ($0.02) earnings per share for the current fiscal year.
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In related news, CRO Andrea Gellert sold 25,147 shares of On Deck Capital stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $4.62, for a total transaction of $116,179.14. Following the sale, the executive now directly owns 154,440 shares in the company, valued at approximately $713,512.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 25.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EJF Capital LLC increased its position in On Deck Capital by 81.2% in the 1st quarter. EJF Capital LLC now owns 5,777,030 shares of the credit services provider’s stock valued at $29,116,000 after acquiring an additional 2,588,550 shares during the period. Vanguard Group Inc. raised its stake in shares of On Deck Capital by 7.7% during 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 acquiring an additional 220,242 shares during the last quarter. State Street Corp raised its stake in shares of On Deck Capital by 10.6% during the second quarter. State Street Corp now owns 814,082 shares of the credit services provider’s stock valued at $3,794,000 after acquiring an additional 78,345 shares during the last quarter. Northern Trust Corp raised its stake in shares of On Deck Capital by 1.2% during the second quarter. Northern Trust Corp now owns 508,431 shares of the credit services provider’s stock valued at $2,369,000 after acquiring an additional 6,047 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of On Deck Capital by 135.8% during the second quarter. Dimensional Fund Advisors LP now owns 399,386 shares of the credit services provider’s stock worth $1,862,000 after purchasing an additional 230,016 shares during the period. Hedge funds and other institutional investors own 53.77% 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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