On Deck Capital Inc (ONDK) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on May 5, 2016.
Many Wall Street Analysts have commented on On Deck Capital Inc. On Deck Capital Inc was Downgraded by Jefferies to ” Hold” on May 4, 2016. Shares were Downgraded by FBR Capital on May 3, 2016 to ” Mkt Perform” and Lowered the Price Target to $ 6.50 from a previous price target of $11 .Shares were Reiterated by Compass Point on May 3, 2016 to “Neutral” and Lowered the Price Target to $ 6 from a previous price target of $7.50 .
On the company’s financial health, On Deck Capital Inc reported $-0.18 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on May 2, 2016. Analyst had a consensus of $-0.08. The company had revenue of $62.60 million for the quarter, compared to analysts expectations of $69.37 million. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.
On Deck Capital Inc closed down -0.39 points or -7.09% at $5.11 with 38,03,019 shares getting traded on Wednesday. Post opening the session at $5.56, the shares hit an intraday low of $4.93 and an intraday high of $5.56 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on May 4, 2016, Nicholas A Sinigaglia (SVP/Principal Accounting Ofcr) sold 1,000 shares at $8.54 per share price. According to the SEC, on Dec 22, 2015, Howard Katzenberg (Chief Financial Officer) sold 25,000 shares at $10.77 per share price.
On Deck Capital Inc. is an online platform for small business lending. The Company aggregates and analyzes data points from disparate data sources to assess the creditworthiness of small businesses. Small businesses apply for a term loan or line of credit on the Company’s Website and using its OnDeck Score the Company makes a funding decision and transfers the funds. The Company offers two products to small businesses to access capital: term loans and lines of credit. The Company’s end-to-end integrated platform includes the Company’s Website which allows small businesses to apply for a loan in minutes around the clock; data and analytics engine analyzes thousands of data attributes from disparate sources to assess the real-time creditworthiness of a small business; the technology which offers seamless funding of loans and daily and weekly collections and ongoing servicing system.