On Deck Capital Inc (ONDK) Launches Mobile App

On Deck Capital Inc (NYSE:ONDK), a leading platform for small business lending, today announced the launch of a new mobile app that allows small business owners the versatility to manage their OnDeck accounts on the go. Among other features, customers can use the app to securely draw funds, check account balances and transaction history, make payments and contact customer service, all from their mobile devices.

“We are always striving to improve the lives of busy small business owners who are constantly on the go,” said Pamela Rice, senior vice president of technology, OnDeck. “Since 2007, our proprietary technology has streamlined the small business loan process and our new mobile app represents our overall mobile strategy – to deliver the highest quality interaction with small business owners, wherever they are, and wherever they’re going.”

The OnDeck app offers customers an enhanced mobile experience and supports the company’s 360-degree approach to customer service and communication with computer, tablet and mobile device access. It is currently available on Android devices for both OnDeck’s Line of Credit and Term Loan customers.

OnDeck will be rolling out an iOS version of the app later this year and will continue adding functionality to further enhance the customer experience. For more information on the OnDeck mobile app, please visit the Google Play store(Original Source)

Shares of On Deck Capital closed yesterday at $12.31. ONDK has a 1-year high of $28.98 and a 1-year low of $11.42. The stock’s 50-day moving average is $12.63 and its 200-day moving average is $16.79.

On the ratings front, On Deck has been the subject of a number of recent research reports. In a report released yesterday, BTIG analyst Mark Palmer reiterated a Buy rating on ONDK, with a price target of $25, which implies an upside of 103.1% from current levels. Separately, on July 16, Deutsche Bank’s Ross Sandler maintained a Buy rating on the stock and has a price target of $18.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Mark Palmer and Ross Sandler have a total average return of -3.4% and 11.1% respectively. Palmer has a success rate of 46.8% and is ranked #3432 out of 3718 analysts, while Sandler has a success rate of 57.4% and is ranked #304.

The street is mostly Bullish on ONDK stock. Out of 5 analysts who cover the stock, 3 suggest a Buy rating, 1 suggest a Sell and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $26.00, which implies an upside of 111.2% from current levels.

On Deck Capital Incalong with its subsidiaries is engaged in providing financing products to small businesses located throughout the United States, including term loans and lines of credit.

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