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ONDK

On Deck Capital

$8.81

0.195 (2.26%)

06:20
08/14/18
08/14
06:20
08/14/18
06:20

On Deck Capital downgraded to Sell from Neutral at BTIG

BTIG analyst Mark Palmer downgraded On Deck Capital to Sell from Neutral with a price target of $7 despite the surge in the stock price last week after its Q2 earnings beat and raised FY18 guidance. The analyst points to the company's "overextended" valuation at 17.7-times and 14.8-times respective estimated earnings for FY19 and FY20 and questions whether it will be able to generate "meaningful" EPS growth without assumptions of higher yields or falling charge-offs. Palmer further states that the current valuation would require him to make "essentially blind assumptions" about the growth the company's On Deck as a Service platform, contribution of which the management is yet to break out in its reported results.

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ONDK On Deck Capital
$8.81

0.195 (2.26%)

07/19/18
07/19/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. NEEDHAM CUTS TESLA TO UNDERPERFORM: Needham analyst Rajvindra Gill downgraded Tesla (TSLA) to Underperform from Hold, stating the stock remains overvalued in spite of its 16% decline from the the June 2017 peak. The analyst cited expectations of slower Model S/X sales amid increased competition and possible cannibalization from the Model 3, the expiration of credits, slower gross margins improvement with "persistently high" production costs, lower energy segment revenue after recent restructuring, and Tesla's "unsustainable capital structure." Tesla is down 1.9% in midday trading. CREDIT SUISSE UPGRADES SQUARE: Credit Suisse analyst Paul Condra upgraded Square (SQ) to Outperform from Neutral, saying he believes its growing product eco-system is increasing its ability to penetrate larger merchants. He also said positive data points on Cash-App adoption validate Square's two-sided platform strategy to grow both merchant and consumer use-cases. The analyst also raised his price target on the shares to $81 from $44. MORGAN STANLEY UPS SQUARE TARGET: Morgan Stanley analyst James Faucette sees good potential for upward estimate revisions for Square in the near-term and raised his price target on the stock to $75 from $43. However, Faucette kept an Equal Weight rating on Square, calling its valuation "demanding" and citing his continued view that new services are misvalued. Square is higher by 3.5% at midday. MORGAN STANLEY DOWNGRADES LENDINGCLUB, ON DECK: Morgan Stanley's Faucette downgraded LendingClub (LC) to Equal Weight from Overweight as he thinks the previously disclosed FTC investigation into the company's lending practices will be a drag on new investor interest and involvement in the stock until it is resolved. Faucette lowered his price target on LendingClub shares to $5 from $6. Faucette downgraded On Deck Capital (ONDK) to Underweight from Equal Weight, stating that he sees the company needing a long time to meaningfully scale the "OnDeck-as-a-Service," which he believes will limit the stock's potential for valuation expansion above small-to-mid cap banks. Also, Faucette sees limited upside potential to origination growth estimates given the company's preference for delivering profitability versus growth, he tells investors. PIPER POSITIVE ON CISCO AND ARISTA, CALLS AMAZON FEARS OVERBLOWN: Amazon (AMZN) is not entering the network switching market as speculated on July 13, Piper Jaffray analyst James Fish told investors in a research note. The confirmation by Amazon removes the potential shadow of Amazon on the space. The analyst continued to recommend Cisco (CSCO) and Arista (ANET) as his top networking picks.
07/19/18
MSCO
07/19/18
NO CHANGE
MSCO
Morgan Stanley upgrades Payments and Processing industry to Attractive
Morgan Stanley analyst James Faucette upgraded his view of the Payments and Processing industry to Attractive, citing the firm's U.S. Strategy Team's call for rotation out of Technology and his view that Payments will be seen as an attractive option for investors looking to become more defensive. Investors underappreciate the resilience of consumer spending and Faucette sees the potential for his Payments coverage market-cap weighted earnings growth to accelerate organically to 15% over 2018-2020 from 11% growth over the last three years, he tells investors. In the group, the firm has Overweight ratings on Visa (V), MasterCard (MA), PayPal (PYPL), GreenSky (GSKY), Worldpay (WP) and FleetCor (FLT). Morgan Stanley has Underweight ratings on Western Union (WU) and On Deck Capital (ONDK), having downgraded On Deck this morning.
07/19/18
07/19/18
DOWNGRADE
Target $6

Underweight
Morgan Stanley sees On Deck needing time to ramp ODaaS, cuts to Underweight
As previously reported, Morgan Stanley analyst James Faucette downgraded On Deck Capital to Underweight from Equal Weight, stating that he sees the company needing a long time to meaningfully scale the "OnDeck-as-a-Service," which he believes will limit the stock's potential for valuation expansion above small-to-mid cap banks. Also, Faucette sees limited upside potential to origination growth estimates given the company's preference for delivering profitability versus growth, he tells investors. He maintains a $6 price target on On Deck shares.
07/19/18
MSCO
07/19/18
DOWNGRADE
MSCO
Underweight
On Deck Capital downgraded to Underweight from Equal Weight at Morgan Stanley

TODAY'S FREE FLY STORIES

ISRG

Intuitive Surgical

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UBER

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FIX

Comfort Systems USA

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0.06 (0.10%)

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NSANY

Nissan

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Nissan to cut global output by 15% in FY19/20, Nikkei reports »

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FE

FirstEnergy

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0.28 (0.70%)

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FirstEnergy CEO 'pleased' FES submitted revised disclosure statement »

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TSLA

Tesla

$273.25

2.13 (0.79%)

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Tesla CEO, SEC granted one more week to resolve tweet dispute, WSJ says »

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EXPO

Exponent

$56.39

0.23 (0.41%)

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ISRG

Intuitive Surgical

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PBCT

People's United

$17.12

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I

Intelsat

$19.48

0.235 (1.22%)

LLY

Eli Lilly

$115.20

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PFE

Pfizer

$39.37

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FIVE

Five Below

$141.65

1.82 (1.30%)

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Five Below CEO: There is potential for 2,500+ stores in the U.S »

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LBRT

Liberty Oilfield Services

$16.60

-0.59 (-3.43%)

18:39
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Liberty Oilfield Services CFO sells 90,000 Class A common shares »

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VNO

Vornado

$67.02

0.77 (1.16%)

18:37
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Vornado sells 45% equity in flagship NYC assets to institutional investors »

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CHKP

Check Point

$120.01

-9.56 (-7.38%)

18:26
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Check Point analyst commentary at Jefferies »

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  • 18

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CAG

Conagra Brands

$30.53

0.405 (1.34%)

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Conagra Brands director Gregor buys 10K shares of common stock »

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  • 18

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UNP

Union Pacific

$176.70

7.5 (4.43%)

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Periodicals
Union Pacific halts construction of $550M facility in Texas, WSJ reports »

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  • 18

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SO

Southern Company

$51.95

-0.22 (-0.42%)

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Southern Company to sell Nacogdoches Generating Facility for $460M »

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TSLA

Tesla

$273.25

2.13 (0.79%)

17:46
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Periodicals
Tesla CEO Musk, SEC ask for extension to settle tweet dispute, Reuters says »

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  • 22

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GLD

SPDR Gold Shares

$120.40

0.09 (0.07%)

17:44
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SPDR Gold Shares holdings fall to 751.68MT from 752.86MT »

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OSW

OneSpaWorld

$13.77

(0.00%)

17:37
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Syndicate
Breaking Syndicate news story on OneSpaWorld »

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SCHW

Charles Schwab

$45.57

-0.53 (-1.15%)

17:36
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Charles Schwab EVP Murtagh sells 23.2K shares of common stock »

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OSW

OneSpaWorld

$13.77

(0.00%)

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SHLD

Sears

$0.00

(0.00%)

17:32
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Sears delays filing 10-K form »

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LB

L Brands

$25.68

0.02 (0.08%)

17:25
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L Brands board supports declassification, enters into pact with Barington »

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  • 16

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TSLA

Tesla

$273.25

2.13 (0.79%)

17:17
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Periodicals
Breaking Periodicals news story on Tesla »

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  • 22

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AMBR

Amber Road

$8.55

-0.31 (-3.50%)

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  • 07

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CYCN

Cyclerion Therapeutics

$15.57

-0.68 (-4.18%)

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Breaking Syndicate news story on Cyclerion Therapeutics »

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ACDVF

Air Canada

$0.00

(0.00%)

, BA

Boeing

$380.02

2.48 (0.66%)

17:10
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17:10
Periodicals
Air Canada says will review plane systems on Boeing's MAX, Reuters says »

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ACDVF

Air Canada

$0.00

(0.00%)

BA

Boeing

$380.02

2.48 (0.66%)

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