On Deck Capital Receives a Hold from Canaccord Genuity

By Carrie Williams

Canaccord Genuity analyst Michael Graham reiterated a Hold rating on On Deck Capital (NYSE: ONDK) today and set a price target of $6. The company’s shares opened today at $4.09, close to its 52-week low of $4.06.

Graham noted:

“We continue to view ONDK’s flexible hybrid funding model favorably and expect the newer ODaaS initiatives can strengthen the model over time. We believe it will be a close call for the company to hit positive EBITDA next year, but 2018 should be stronger as ODaaS revenue kicks in.”

According to TipRanks.com, Graham is a 5-star analyst with an average return of 7.3% and a 49.4% success rate. Graham covers the Technology sector, focusing on stocks such as IAC/InterActiveCorp, Spark Networks Plc, and Angie’s List Inc.

Currently, the analyst consensus on On Deck Capital is Hold and the average price target is $6.25, representing a 52.8% upside.

In a report issued on October 31, BTIG also reiterated a Hold rating on the stock.

Based on On Deck Capital’s latest earnings report from June 30, the company posted quarterly revenue of $69.5M and quarterly net profit of -$17.9M. In comparison, last year the company earned revenue of $67.4M and had a net profit of $3.73M.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2015, Cory Kampfer, the CLO of ONDK bought 4,791 shares for a total of $2,612.

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. Its proprietary data and analytics engine aggregates and analyzes the online and offline data attributes and the relationships among those attributes to assess the creditworthiness of a small business in real time. The company was founded on May 4, 2006 and is headquartered in New York, NY.