On Deck Capital Inc. (NYSE:ONDK) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report released on Wednesday.
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. “
Other equities analysts have also issued research reports about the stock. Vetr lowered shares of On Deck Capital from a “strong-buy” rating to a “buy” rating and set a $5.81 target price on the stock. in a report on Wednesday, July 27th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $7.00 target price on shares of On Deck Capital in a report on Thursday, September 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of On Deck Capital in a report on Thursday, August 11th. Canaccord Genuity reaffirmed a “hold” rating and set a $6.00 target price on shares of On Deck Capital in a report on Tuesday, July 26th. Finally, Chardan Capital began coverage on shares of On Deck Capital in a report on Thursday, August 4th. They set a “buy” rating and a $5.08 target price on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $8.04.
On Deck Capital (NYSE:ONDK) opened at 4.91 on Wednesday. The firm’s market cap is $348.23 million. The stock’s 50 day moving average is $5.89 and its 200 day moving average is $5.86. On Deck Capital has a one year low of $4.20 and a one year high of $12.85.
On Deck Capital (NYSE:ONDK) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.04. The firm had revenue of $69.50 million for the quarter, compared to analysts’ expectations of $67.83 million. On Deck Capital had a negative net margin of 11.75% and a negative return on equity of 9.58%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $0.10 EPS. On average, analysts predict that On Deck Capital will post ($0.65) earnings per share for the current fiscal year.
In related news, CFO Howard Katzenberg sold 24,000 shares of On Deck Capital stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $5.23, for a total transaction of $125,520.00. Following the completion of the transaction, the chief financial officer now directly owns 388,396 shares of the company’s stock, valued at approximately $2,031,311.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 35.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ONDK. State Street Corp boosted its position in shares of On Deck Capital by 7.2% in the first quarter. State Street Corp now owns 181,899 shares of the company’s stock valued at $1,419,000 after buying an additional 12,288 shares during the period. Geode Capital Management LLC boosted its position in shares of On Deck Capital by 7.2% in the first quarter. Geode Capital Management LLC now owns 227,683 shares of the company’s stock valued at $1,773,000 after buying an additional 15,344 shares during the period. Renaissance Technologies LLC purchased a new position in shares of On Deck Capital during the first quarter valued at about $597,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of On Deck Capital during the first quarter valued at about $201,000. Finally, First Republic Investment Management Inc. boosted its position in shares of On Deck Capital by 122.9% in the first quarter. First Republic Investment Management Inc. now owns 615,766 shares of the company’s stock valued at $4,797,000 after buying an additional 339,498 shares during the period. 79.33% of the stock is owned by institutional investors.
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.