Zacks Investment Research Downgrades On Deck Capital (ONDK) to Hold

On Deck Capital (NYSE:ONDK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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. “

ONDK has been the subject of several other reports. Stephens reaffirmed a “hold” rating and issued a $8.00 target price on shares of On Deck Capital in a research note on Wednesday, August 8th. B. Riley set a $14.00 target price on shares of On Deck Capital and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Janney Montgomery Scott set a $12.00 target price on shares of On Deck Capital and gave the stock a “buy” rating in a research note on Tuesday. ValuEngine raised shares of On Deck Capital from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, UBS Group lifted their target price on shares of On Deck Capital from $6.50 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, August 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. On Deck Capital currently has an average rating of “Hold” and a consensus price target of $9.36.

ONDK stock opened at $8.14 on Thursday. The company has a market capitalization of $663.66 million, a price-to-earnings ratio of -50.88 and a beta of 1.54. The company has a debt-to-equity ratio of 2.72, a current ratio of 26.85 and a quick ratio of 26.85. On Deck Capital has a one year low of $4.11 and a one year high of $9.41.

On Deck Capital (NYSE:ONDK) last released its earnings results on Tuesday, November 6th. The credit services provider reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.11. The firm had revenue of $103.00 million during the quarter, compared to analysts’ expectations of $98.32 million. On Deck Capital had a net margin of 4.97% and a return on equity of 9.53%. On Deck Capital’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.01) EPS. As a group, sell-side analysts expect that On Deck Capital will post 0.28 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of On Deck Capital by 5.0% during the 3rd quarter. BlackRock Inc. now owns 3,589,836 shares of the credit services provider’s stock valued at $27,174,000 after buying an additional 169,668 shares during the period. PNC Financial Services Group Inc. purchased a new stake in shares of On Deck Capital during the 3rd quarter valued at $808,000. Bank of New York Mellon Corp grew its stake in shares of On Deck Capital by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 176,250 shares of the credit services provider’s stock valued at $1,335,000 after buying an additional 6,652 shares during the period. EAM Global Investors LLC purchased a new stake in shares of On Deck Capital during the 3rd quarter valued at $1,310,000. Finally, EAM Investors LLC purchased a new stake in shares of On Deck Capital during the 3rd quarter valued at $1,039,000. 78.62% of the stock is owned by institutional investors.

About On Deck Capital

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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