On Deck Capital (ONDK) Raised to “Strong-Buy” at Zacks Investment Research
On Deck Capital (NYSE:ONDK) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $9.25 price objective on the credit services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 17.68% 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. “
A number of other analysts have also commented on the company. Morgan Stanley lowered On Deck Capital from an “equal weight” rating to an “underweight” rating and set a $5.50 target price for the company. in a research report on Thursday, July 19th. BTIG Research raised On Deck Capital from a “sell” rating to a “neutral” rating and set a $7.00 target price for the company in a research report on Monday, October 8th. ValuEngine lowered On Deck Capital from a “buy” rating to a “hold” rating in a research report on Monday, September 24th. UBS Group boosted their target price on On Deck Capital from $6.50 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, August 30th. Finally, B. Riley initiated coverage on On Deck Capital in a research report on Wednesday, August 22nd. They issued a “buy” rating and a $14.00 target price for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. On Deck Capital has an average rating of “Hold” and an average price target of $9.25.
On Deck Capital (NYSE:ONDK) last issued its earnings results on Tuesday, November 6th. The credit services provider reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. On Deck Capital had a return on equity of 9.36% and a net margin of 4.97%. The business had revenue of $103.00 million during the quarter, compared to analyst estimates of $98.32 million. During the same period in the previous year, the company posted ($0.01) EPS. The firm’s revenue was up 23.1% compared to the same quarter last year. Analysts expect that On Deck Capital will post 0.38 EPS for the current fiscal year.
In other On Deck Capital news, Director David Hartwig sold 105,825 shares of On Deck Capital stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $8.30, for a total transaction of $878,347.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 21.40% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in On Deck Capital by 103.8% during the 3rd quarter. AQR Capital Management LLC now owns 32,259 shares of the credit services provider’s stock valued at $244,000 after purchasing an additional 16,427 shares during the last quarter. Mackenzie Financial Corp boosted its stake in On Deck Capital by 676.3% during the 3rd quarter. Mackenzie Financial Corp now owns 195,622 shares of the credit services provider’s stock valued at $1,481,000 after purchasing an additional 170,422 shares during the last quarter. MetLife Investment Advisors LLC boosted its stake in On Deck Capital by 54.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 39,297 shares of the credit services provider’s stock valued at $297,000 after purchasing an additional 13,861 shares during the last quarter. Matarin Capital Management LLC acquired a new position in On Deck Capital during the 3rd quarter valued at about $1,380,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in On Deck Capital during the 3rd quarter valued at about $474,000. Institutional investors and hedge funds own 76.80% of the company’s stock.
On Deck Capital Company Profile
On Deck Capital, Inc operates an online platform for small business lending in the United States, Canada, and Australia. It offers term loans and lines of credit. The company was incorporated in 2006 and is headquartered in New York, New York.
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