Overstock.com (OSTK) Given New $110.00 Price Target at DA Davidson

Overstock.com (NASDAQ:OSTK) had its target price upped by DA Davidson from $85.00 to $110.00 in a research report sent to investors on Monday morning. They currently have a buy rating on the stock. DA Davidson also issued estimates for Overstock.com’s FY2022 earnings at $0.65 EPS.

Separately, BidaskClub upgraded shares of Overstock.com from a hold rating to a buy rating in a research note on Saturday, December 16th.

Overstock.com (NASDAQ:OSTK) traded up $0.90 on Monday, hitting $80.60. 4,624,900 shares of the company traded hands, compared to its average volume of 6,248,188. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 0.86. Overstock.com has a 1 year low of $13.75 and a 1 year high of $89.80. The firm has a market cap of $2,010.00, a PE ratio of -187.44 and a beta of 1.36.

Overstock.com (NASDAQ:OSTK) last posted its earnings results on Wednesday, November 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.06. Overstock.com had a negative net margin of 0.61% and a negative return on equity of 4.95%. The firm had revenue of $424.00 million during the quarter, compared to analysts’ expectations of $452.60 million. Overstock.com’s quarterly revenue was down 4.0% on a year-over-year basis. analysts forecast that Overstock.com will post -0.47 earnings per share for the current fiscal year.

In other Overstock.com news, insider Jonathan E. Johnson III sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $64.10, for a total transaction of $256,400.00. Following the completion of the transaction, the insider now directly owns 34,092 shares in the company, valued at $2,185,297.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Amit Goyal sold 2,762 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $55.49, for a total transaction of $153,263.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,386 shares of company stock valued at $1,279,021. Company insiders own 28.90% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. GSA Capital Partners LLP acquired a new position in Overstock.com during the third quarter worth $215,000. Cubist Systematic Strategies LLC acquired a new position in Overstock.com during the third quarter worth $448,000. Cornerstone Capital Management Holdings LLC. raised its position in Overstock.com by 46.9% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 171,338 shares of the company’s stock worth $5,088,000 after acquiring an additional 54,700 shares during the period. Partnervest Advisory Services LLC acquired a new position in Overstock.com during the third quarter worth $244,000. Finally, Dimensional Fund Advisors LP raised its position in Overstock.com by 3.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,631,200 shares of the company’s stock worth $48,446,000 after acquiring an additional 53,031 shares during the period. Institutional investors own 47.74% of the company’s stock.

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About Overstock.com

Overstock.com, Inc is an online retailer and incubator of blockchain technology. Through its online retail business, the Company offers a range of price-competitive brand name, non-brand name and closeout products, including furniture, home decor, bedding and bath, housewares, jewelry and watches, apparel and designer accessories, health and beauty products, electronics and computers, and sporting goods.

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