B.Riley FBR analyst Scott Buck maintained a Buy rating on On Deck Capital Inc (ONDK) today and set a price target of $6. The company’s shares closed yesterday at $3.04, close to its 52-week low of $2.88.
Buck said:
“Buy-rated OnDeck Capital, Inc. (ONDK) reported softer-than-expected 2Q19 results, before the market open on 7/29, of $0.09 below both B. Riley FBR and consensus estimates of $0.11. The miss to our forecast was almost entirely on higher credit costs, and tax rate in the quarter as both revenue and operating expenses were largely consistent with our forecast. Higher-than- expected provisioning costs were the result of a shift in strategy, aiming to fund higher credit quality loans over a longer term with lower payments, though provisioning is still accounted for upfront. In concert with the 2Q19 print, the company updated its full-year operating guidance, bringing its full year adj.”
According to TipRanks.com, Buck is ranked #4881 out of 5257 analysts.
Currently, the analyst consensus on On Deck Capital Inc is a Moderate Buy with an average price target of $7.31, representing a 140.5% upside. In a report released today, BTIG also upgraded the stock to Buy with a $4.25 price target.
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On Deck Capital Inc’s market cap is currently $230.8M and has a P/E ratio of 7.18. The company has a Price to Book ratio of 0.74.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ONDK in relation to earlier this year.
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On Deck Capital, Inc. engages in online small business lending. It offers financing solution for small businesses, including short term loans, long term loans, and lines of credit. The company was founded on May 4, 2006 and is headquartered in New York, NY.
