Wall Street brokerages expect Overstock.com Inc (NASDAQ:OSTK) to report $677.30 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Overstock.com’s earnings. The lowest sales estimate is $607.40 million and the highest is $747.20 million. Overstock.com posted sales of $347.10 million in the same quarter last year, which suggests a positive year over year growth rate of 95.1%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, November 10th.
On average, analysts expect that Overstock.com will report full year sales of $2.50 billion for the current financial year, with estimates ranging from $2.33 billion to $2.66 billion. For the next year, analysts forecast that the firm will post sales of $2.91 billion, with estimates ranging from $2.87 billion to $2.95 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Overstock.com.
Overstock.com (NASDAQ:OSTK) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.96. The business had revenue of $783.00 million during the quarter, compared to analyst estimates of $680.20 million. Overstock.com had a negative return on equity of 21.29% and a negative net margin of 2.05%. Overstock.com’s quarterly revenue was up 109.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.69) EPS.
OSTK has been the subject of several research reports. Needham & Company LLC initiated coverage on Overstock.com in a research report on Monday, September 14th. They issued a “buy” rating and a $96.00 target price for the company. BofA Securities initiated coverage on Overstock.com in a research report on Friday, September 4th. They issued a “neutral” rating and a $78.00 target price for the company. Piper Sandler initiated coverage on Overstock.com in a research report on Monday, August 17th. They issued an “overweight” rating and a $140.00 target price for the company. Bank of America initiated coverage on Overstock.com in a research report on Friday, September 4th. They issued a “neutral” rating and a $78.00 target price for the company. Finally, Wedbush initiated coverage on Overstock.com in a research report on Tuesday, September 15th.
They issued an “outperform” rating and a $92.00 target price for the company. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Overstock.com has a consensus rating of “Buy” and an average price target of $86.25.
In related news, insider Meghan Tuohig sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $50.00, for a total value of $75,000.00. Following the sale, the insider now owns 10,235 shares in the company, valued at approximately $511,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Joel Weight sold 435 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $114.91, for a total value of $49,985.85. The disclosure for this sale can be found here. Insiders sold a total of 10,514 shares of company stock worth $823,832 in the last 90 days. 1.30% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. boosted its stake in Overstock.com by 12.6% during the 1st quarter. Victory Capital Management Inc. now owns 6,681 shares of the company’s stock valued at $33,000 after purchasing an additional 749 shares during the last quarter. Parallel Advisors LLC purchased a new stake in Overstock.com during the 2nd quarter valued at $49,000. Deutsche Bank AG boosted its stake in Overstock.com by 23.8% during the 1st quarter. Deutsche Bank AG now owns 11,216 shares of the company’s stock valued at $55,000 after purchasing an additional 2,157 shares during the last quarter. Rockbridge Investment Management LCC purchased a new stake in Overstock.com during the 2nd quarter valued at $62,000. Finally, SG Americas Securities LLC purchased a new stake in Overstock.com during the 1st quarter valued at $64,000. Institutional investors and hedge funds own 61.38% of the company’s stock.
OSTK opened at $74.48 on Tuesday. The business has a 50 day simple moving average of $89.46 and a two-hundred day simple moving average of $38.18. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of -63.12 and a beta of 4.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.05. Overstock.com has a one year low of $2.53 and a one year high of $128.50.
Overstock.com Company Profile
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.
