Maxim Group analyst Michael Diana maintained a Hold rating on On Deck Capital Inc (ONDK) yesterday. The company’s shares closed yesterday at $3.60, close to its 52-week low of $2.88.
Diana observed:
“2Q19 results were disappointing: consistent with consensus on gross revenue, but below consensus on adjusted EBITDA and adjusted net income (non-GAAP EPS). Management lowered 2019 guidance on adjusted net income (there is no guidance on adjusted EBITDA). Management also announced: that JPMorgan Chase (JPM – NR) would be exiting its partnership program with ONDK; that ONDK would be “actively pursuing” a bank charter (though with an unspecified timeline); and a $50M share repurchase program. We are maintaining our Hold rating, based on even lower earnings expectations than previously, and uncertainty as to ONDK’s business model.”
According to TipRanks.com, Diana is a 5-star analyst with an average return of 6.9% and a 62.3% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
On Deck Capital Inc has an analyst consensus of Moderate Buy, with a price target consensus of $5.81, which is a 61.4% upside from current levels. In a report issued on July 15, BTIG also initiated coverage with a Hold rating on the stock.
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The company has a one-year high of $9.41 and a one-year low of $2.88. Currently, On Deck Capital Inc has an average volume of 687.4K.
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.
