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 to clients and investors on Friday, May 12th. The brokerage currently has a $4.50 price target on the credit services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 7.40% from the stock’s current price.
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 research firms have also recently weighed in on ONDK. Canaccord Genuity reissued a “hold” rating and set a $6.00 price objective on shares of On Deck Capital in a report on Wednesday, March 1st. FBR & Co reissued a “hold” rating on shares of On Deck Capital in a report on Friday, March 24th. Stifel Nicolaus assumed coverage on shares of On Deck Capital in a report on Wednesday, April 19th. They set a “buy” rating and a $6.00 price objective for the company. Finally, Jefferies Group LLC decreased their price objective on shares of On Deck Capital from $5.40 to $5.00 and set a “hold” rating for the company in a report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $5.63.
On Deck Capital (NYSE ONDK) traded down 0.48% on Friday, reaching $4.19. The company’s stock had a trading volume of 1,021,330 shares. The stock’s 50 day moving average price is $4.01 and its 200 day moving average price is $4.59. The company’s market cap is $303.70 million. On Deck Capital has a 12 month low of $3.29 and a 12 month high of $6.46.
On Deck Capital (NYSE:ONDK) last issued its earnings results on Monday, May 8th. The credit services provider reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.05. The firm had revenue of $92.90 million for the quarter, compared to the consensus estimate of $90.18 million. On Deck Capital had a negative net margin of 25.33% and a negative return on equity of 28.89%. The business’s revenue was up 48.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. Equities research analysts forecast that On Deck Capital will post ($0.03) earnings per share for the current year.
In related news, CEO Noah Breslow bought 14,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average price of $3.57 per share, for a total transaction of $49,980.00. Following the completion of the transaction, the chief executive officer now owns 213,117 shares in the company, valued at $760,827.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce P. Nolop bought 10,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 77,985 shares of the company’s stock, valued at approximately $279,966.15. The disclosure for this purchase can be found here. Over the last three months, insiders bought 39,000 shares of company stock valued at $139,280. Corporate insiders own 25.40% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY acquired a new position in On Deck Capital during the first quarter valued at approximately $182,000. EJF Capital LLC raised 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. Schwab Charles Investment Management Inc. raised its position in On Deck Capital by 50.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 157,078 shares of the credit services provider’s stock valued at $792,000 after buying an additional 52,428 shares during the period. Dimensional Fund Advisors LP raised its position in On Deck Capital by 364.8% in the first quarter. Dimensional Fund Advisors LP now owns 169,370 shares of the credit services provider’s stock valued at $853,000 after buying an additional 132,927 shares during the period. Finally, Geode Capital Management LLC raised its position in On Deck Capital by 17.4% in the first quarter. Geode Capital Management LLC now owns 334,040 shares of the credit services provider’s stock valued at $1,683,000 after buying an additional 49,524 shares during the period. Hedge funds and other institutional investors own 58.37% of the company’s stock.
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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