Piper Sandler Begins Coverage on Overstock.com (NASDAQ:OSTK)

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Piper Sandler began coverage on shares of Overstock.com (NASDAQ:OSTK) in a report published on Monday morning, Benzinga reports. The firm issued an overweight rating and a $140.00 target price on the stock. Piper Sandler also issued estimates for Overstock.com’s Q3 2020 earnings at $0.18 EPS, Q4 2020 earnings at $0.06 EPS, FY2020 earnings at $0.47 EPS, Q1 2021 earnings at $0.12 EPS, Q2 2021 earnings at $0.54 EPS, Q3 2021 earnings at $0.46 EPS, Q4 2021 earnings at $0.37 EPS, FY2021 earnings at $1.27 EPS and FY2022 earnings at $1.78 EPS.

A number of other equities analysts have also recently issued reports on OSTK. ValuEngine cut shares of Overstock.com from a buy rating to a hold rating in a research report on Thursday, July 2nd. BidaskClub cut shares of Overstock.com from a strong-buy rating to a buy rating in a research report on Thursday, August 13th. Finally, DA Davidson increased their price objective on shares of Overstock.com from $66.00 to $103.00 and gave the stock a buy rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Overstock.com currently has a consensus rating of Buy and a consensus price target of $73.75.

Shares of Overstock.com stock opened at $122.32 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $66.49 and a two-hundred day moving average price of $25.83. Overstock.com has a 1-year low of $2.53 and a 1-year high of $128.50.

Overstock.com (NASDAQ:OSTK) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.96. Overstock.com had a negative return on equity of 21.29% and a negative net margin of 2.05%. The firm had revenue of $783.00 million during the quarter, compared to the consensus estimate of $680.20 million. During the same period last year, the business posted ($0.69) EPS. The business’s revenue was up 109.8% compared to the same quarter last year. On average, sell-side analysts forecast that Overstock.com will post 0.47 earnings per share for the current year.

In related news, insider Meghan Tuohig sold 750 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $36.20, for a total value of $27,150.00. Following the transaction, the insider now owns 13,985 shares of the company’s stock, valued at approximately $506,257. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Joel Weight sold 435 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $114.91, for a total transaction of $49,985.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,764 shares of company stock worth $830,082. 1.30% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC bought a new position in Overstock.com in the 2nd quarter valued at about $49,000. Rockbridge Investment Management LCC purchased a new position in Overstock.com in the 2nd quarter valued at approximately $62,000. Strs Ohio purchased a new position in Overstock.com in the 2nd quarter valued at approximately $73,000. Private Advisor Group LLC purchased a new position in Overstock.com in the 2nd quarter valued at approximately $81,000. Finally, Bank of Montreal Can grew its stake in Overstock.com by 65.2% in the 2nd quarter. Bank of Montreal Can now owns 3,354 shares of the company’s stock valued at $152,000 after buying an additional 1,324 shares in the last quarter. 40.50% of the stock is currently owned by institutional investors and hedge funds.

About Overstock.com

Overstock.com, Inc operates as an online retailer in the United States and internationally. It operates through Retail and tZERO segments. The company offers furniture; and home d├ęcor, including rugs, bedding and bath, home improvement, kitchen items, and other related products. It also operates Worldstock Fair Trade, a store that provides handcrafted products; Pet Adoptions, a free service and portal to display pets available for adoption; and Overstock Hotels, a portal that enables customers to search and book properties within its Website.

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