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Orchard Platform's Week In Review: 'Continued, Positive Deal Flow'

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Orchard Platform's Week In Review: 'Continued, Positive Deal Flow'
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Orchard Platform, a technology and data provider for the online lending space, publishes a weekly review of the online lending sector.

The latest report, for the week ending September 16, noted a "continued, positive deal flow" for the online lending industry. Of note, GreenSky, an online home improvement and large-ticket retail lender, raised $50 million in working capital at a $3.6 billion valuation, which will make it the most valuable privately held fintech startup.

In addition, Financeit and Concentra, two Canadian fintech firms, announced the acquisition of TD Bank Group's indirect home improvement financing assets.

Here is a summary of the some of the major indicators the report follows.

  1. The Orchard Index, an index designed to measure the performance of direct online lending to U.S. consumers, last read 1,469.58, up from 1,463.19 a month ago. The index tracks the performance of the aggregate amount of loans to consumers originated and funded on U.S.-based online lending platforms.
  2. The KBW/Nasdaq Fintech Index, an index that tracks the performance of companies that specialize in combining technology with financial products and services, last read 1,050.45, up from 1,027.79 a month ago. The index was just launched in July of this year.
  3. The Liberum/AltFi Financial Disruptors Index (LAFDI) tracks companies that are considered to be disrupting banks and financial services by using new approaches. The index last read 1,817.80, which is down from 1,953.00 a month ago.
  4. Below are the five stocks Orchard tracks and their recent opens.

    • LendingClub Corp (NYSE: LC) opened at $6.50 on Monday and traded at $5.63 a month ago.
    • On Deck Capital Inc (NYSE: ONDK) opened at $5.99 on Monday and traded at $6.16 a month ago.
    • Yirendai Ltd - ADR (NYSE: YRD) opened at $22.60 on Monday and traded at $33.40 a month ago.
    • Lendingtree Inc (NASDAQ: TREE) opened at $96.30 on Monday and traded at $106.24 a month ago.
    • Square Inc (NYSE: SQ) opened at $11.46 on Monday and traded at $11.64 a month ago.

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Latest Ratings for LC

DateFirmActionFromTo
Nov 2017Canaccord GenuityMaintainsBuy
Nov 2017OppenheimerMaintainsOutperform
Nov 2017Credit SuisseMaintainsNeutral

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Posted-In: Fintech Fintech Starts GreenSky Online LendingAnalyst Color Fintech Analyst Ratings Personal Finance Best of Benzinga

 

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