Zacks Investment Research upgraded shares of On Deck Capital (NYSE:ONDK) from a hold rating to a buy rating in a research report released on Saturday morning. The firm currently has $5.75 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. “
Several other analysts have also weighed in on ONDK. Jefferies Group restated a hold rating on shares of On Deck Capital in a report on Wednesday, February 14th. BTIG Research restated a hold rating on shares of On Deck Capital in a report on Wednesday, February 14th. Morgan Stanley upped their target price on On Deck Capital from $5.00 to $5.50 and gave the company an equal weight rating in a report on Wednesday, February 14th. BidaskClub downgraded On Deck Capital from a hold rating to a sell rating in a report on Tuesday, October 31st. Finally, Stifel Nicolaus upped their target price on On Deck Capital from $5.00 to $5.50 and gave the company a hold rating in a report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $5.29.
On Deck Capital (NYSE:ONDK) last announced its quarterly earnings data on Tuesday, February 13th. The credit services provider reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The business had revenue of $87.74 million during the quarter, compared to analyst estimates of $87.48 million. On Deck Capital had a negative return on equity of 4.44% and a negative net margin of 3.29%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.50) earnings per share. analysts forecast that On Deck Capital will post 0.08 EPS for the current year.
In related news, CEO Noah Breslow bought 12,000 shares of On Deck Capital stock in a transaction dated Tuesday, November 28th. The stock was acquired at an average cost of $4.94 per share, with a total value of $59,280.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 25.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC raised its position in On Deck Capital by 28.4% during the second quarter. Voya Investment Management LLC now owns 28,067 shares of the credit services provider’s stock valued at $131,000 after buying an additional 6,202 shares during the period. Bank of Montreal Can raised its position in On Deck Capital by 4,393.3% during the fourth quarter. Bank of Montreal Can now owns 24,219 shares of the credit services provider’s stock valued at $139,000 after buying an additional 23,680 shares during the period. MetLife Investment Advisors LLC acquired a new position in On Deck Capital during the fourth quarter valued at $143,000. JPMorgan Chase & Co. raised its position in On Deck Capital by 58.2% during the second quarter. JPMorgan Chase & Co. now owns 31,951 shares of the credit services provider’s stock valued at $149,000 after buying an additional 11,751 shares during the period. Finally, Nationwide Fund Advisors raised its position in On Deck Capital by 13.4% during the second quarter. Nationwide Fund Advisors now owns 33,891 shares of the credit services provider’s stock valued at $158,000 after buying an additional 4,010 shares during the period. 57.60% of the stock is owned by institutional investors and hedge funds.
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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