On May 26, 2023, research analysts at StockNews.com announced that they upgraded Overstock.com (NASDAQ:OSTK) from a “sell” rating to a “hold” rating in a note issued to investors last Friday. This announcement comes after the company’s quarterly earnings report on Thursday, April 27th, where it reported beating analyst estimates with an EPS of ($0.10) and revenue of $381.10 million during the quarter.
Overstock.com is an online shopping site that operates through several websites such as www.overstock.com, www.o.com, and www.o.biz. The company also has three business segments: Retail, tZERO, and MVI. The Retail Segment focuses on e-commerce sales through its website while the tZERO Segment specializes in securities transaction through its broker-dealers.
Despite experiencing a decline in its quarterly revenue by 28.9% year-over-year, Overstock.com had a positive return on equity of 1.20%, and sell-side analysts predict that the company will post -0.28 EPS for the current year.
With this new hold rating from StockNews.com, investors may be wondering if now is the time to invest in Overstock.com or hold off for further developments. As with any investment opportunity, careful consideration must be taken before making any decisions.
In conclusion, while there are uncertainties surrounding its future earnings reports and performance sustainability across all three business segments amid challenging market conditions; with proper guidance from experienced financial advisors combined with diligent research using trusted sources like StockNews.com , prospective investors can make informed decisions based on due diligence rather than speculation or conjecture alone.
Overview of Overstock.com’s Market Capitalization and Stock Ratings
Overstock.com, Inc is an online shopping site operator that sells its products through various websites including www.overstock.com, www.o.com and www.o.biz. As of May 26, 2023, the company had a market capitalization of $800.49 million, a P/E ratio of -14.06 and a beta of 3.35. The stock opened at $17.71 on Friday, which is lower than its 1-year high of $35.20.
Analysts have expressed their opinion about Overstock.com’s shares in several research reports. Piper Sandler raised the price objective for Overstock.com’s shares from $19 to $20 while Wedbush reiterated its “outperform” rating with a price target of $26. However, Barclays set an “equal weight” rating for the company with a lowered price target from $23 to $19 as DA Davidson decreased its target price from $98 to $91 and issued a “buy” rating for Overstock.com.
Interestingly, TheStreet downgraded Overstock.com’s shares from a “c-” rating to a “d+” rating in one of its reports on Friday, March 10th. Overall, nine analysts gave the company’s stock a hold rating while two assigned it with a buy rating according to data from Bloomberg.com.
The online retailer operates through three business segments: Retail, tZERO and MVI. Its Retail segment focuses on e-commerce sales through its website while the tZERO segment engages in securities transaction through broker-dealers.
Eric Glen Nickle, an insider at Overstock.com sold 2,000 shares in the firm’s stock valued at approximately $34,380 on March 13th this year at an average price of $17.19 per share.
During Q1 FY2023 Rhumbline Advisers raised its holdings by 1% after purchasing additional 430 shares in Overstock.com’s stock valued at $1,968,000. FMR LLC increased its holdings by 40% after purchasing an extra 502 shares valued at $36,000 while Captrust Financial Advisors increased its holdings by 61.7% with the purchase of another 640 shares at a value of $42,000.
As of May 2023, institutional investors and hedge funds own approximately 62.13% of Overstock.com’s stock.
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