Needham & Company Starts On Deck Capital (ONDK) at Buy

Needham & Company initiates coverage on On Deck Capital (NYSE: ONDK) with a Buy rating and a price target of $28.00.

Analyst Mayank Tandon comments, "We initiate coverage of OnDeck, a leading online platform for small business lending, with a Buy rating and a $28 target price. We believe that the small business lending market is large and underserved by traditional lenders, and that it is ripe for disruption. We see ONDK as well positioned to capture a meaningful piece of the market by virtue of its proprietary credit-scoring system, which enables ONDK to generate strong growth in loan originations with low loss rates. With strong multi-year growth trends and the potential to generate substantial operating leverage as the business scales, we see ONDK as a good fit for small-cap aggressive growth portfolios."

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 $22.69 yesterday.

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