Overstock.com (NASDAQ:OSTK) Given a $38.00 Price Target at DA Davidson

DA Davidson set a $38.00 price target on Overstock.com (NASDAQ:OSTK) in a research note published on Monday, TipRanks reports. The firm currently has a buy rating on the stock.

OSTK has been the topic of a number of other reports. BidaskClub upgraded shares of Overstock.com from a hold rating to a buy rating in a research note on Wednesday, July 31st. Zacks Investment Research raised shares of Overstock.com from a sell rating to a hold rating in a research report on Thursday, July 11th. Maxim Group set a $40.00 target price on shares of Overstock.com and gave the company a buy rating in a research note on Monday, August 26th. Finally, ValuEngine raised shares of Overstock.com from a hold rating to a buy rating in a research report on Saturday, August 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Overstock.com currently has an average rating of Buy and a consensus price target of $39.00.

Shares of OSTK traded up $1.44 during trading on Monday, reaching $22.76. The company’s stock had a trading volume of 9,201,650 shares, compared to its average volume of 3,562,223. The company has a market cap of $803.18 million, a price-to-earnings ratio of -3.67 and a beta of 2.50. The company has a quick ratio of 0.82, a current ratio of 0.88 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average of $19.53 and a two-hundred day moving average of $16.08. Overstock.com has a twelve month low of $8.96 and a twelve month high of $28.95.



Overstock.com (NASDAQ:OSTK) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.23. The business had revenue of $373.70 million during the quarter, compared to analyst estimates of $376.66 million. Overstock.com had a negative net margin of 9.43% and a negative return on equity of 66.84%. The business’s revenue was down 22.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.20) earnings per share.

In related news, insider John Paul Knab sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $21.06, for a total transaction of $31,590.00. Following the sale, the insider now directly owns 14,612 shares of the company’s stock, valued at approximately $307,728.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jonathan E. Johnson III purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average cost of $15.98 per share, for a total transaction of $31,960.00. Following the completion of the transaction, the chief executive officer now owns 45,494 shares in the company, valued at approximately $726,994.12. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 3,000 shares of company stock worth $67,817. 19.40% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its holdings in shares of Overstock.com by 100.5% during the fourth quarter. Bank of America Corp DE now owns 33,725 shares of the company’s stock worth $458,000 after purchasing an additional 16,907 shares during the period. Deutsche Bank AG lifted its position in shares of Overstock.com by 35.3% in the 4th quarter. Deutsche Bank AG now owns 56,225 shares of the company’s stock worth $762,000 after buying an additional 14,682 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Overstock.com by 6.0% in the 1st quarter. Rhumbline Advisers now owns 29,533 shares of the company’s stock valued at $491,000 after buying an additional 1,666 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in shares of Overstock.com in the 1st quarter valued at about $389,000. Finally, Equitec Specialists LLC acquired a new position in shares of Overstock.com in the 2nd quarter valued at about $42,000. Hedge funds and other institutional investors own 56.61% of the company’s stock.

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 décor, 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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