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Why On Deck Capital (ONDK) Could Be Positioned for a Surge?

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On Deck Capital, Inc. (ONDK - Free Report) is a miscellaneous financial services industry stock that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ONDK’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that On Deck Capital could be a solid choice for investors.

Current Quarter Estimates for ONDK

In the past 30 days, 4 estimates have gone higher for On Deck Capital while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing down from a loss of 9 cents a share 30 days ago, to a loss of 6 cents today, a move of 33.3%.

Current Year Estimates for ONDK

Meanwhile, On Deck Capital’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to 2 lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 27 cents per share 30 days ago to a loss of 23 cents per share today, a move of 14.8%.
 
Bottom Line

The stock has also started to move higher lately, adding 12.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
 
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