FBR Capital Starts On Deck Capital (ONDK) at Outperform

FBR Capital initiates coverage on On Deck Capital (NYSE: ONDK) with a Outperform rating and a price target of $14.00.

Analyst Bob Ramsey commented, "We initiate coverage of On Deck Capital, Inc. (ONDK) with an Outperform rating and a 12-month price target of $14 per share, equal to 28x our 2017 EPS estimate of $0.50 and 19x EV/2017E EBITDA. OnDeck is a marketplace lender that makes small loans (<$250,000) to businesses, a borrower segment that is relatively underserved by traditional lenders. Growth has been strong, with originations growing 68% year over year in 2Q15 and 144% in 2014. Shares are trading 65% lower than the post-IPO trading high (S&P 500 down 1.2% over the same period) on concerns about effective interest yield and origination outlook, which we consider overblown."

For an analyst ratings summary and ratings history on On Deck Capital click here. For more ratings news on On Deck Capital click here.

Shares of On Deck Capital closed at $9.12 yesterday.

You May Also Be Interested In

• BofA Securities Starts GE Vernova (GEV) at Neutral, 'Multiyear turnaround amid positive demand backdrop'
• Boston Scientific (BSX) PT Raised to $80 at BTIG
• TE Connectivity (TEL) PT Raised to $150 at Stifel