After Wedbush and Piper Sandler gave Overstock (NASDAQ: OSTK) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Rick Patel assigned a Buy rating to Overstock today and set a price target of $110.00. The company’s shares closed last Wednesday at $72.93.
According to TipRanks.com, Patel is a 4-star analyst with an average return of 22.7% and a 47.7% success rate. Patel covers the Consumer Goods sector, focusing on stocks such as Lululemon Athletica, Columbia Sportswear, and Capri Holdings.
Overstock has an analyst consensus of Strong Buy, with a price target consensus of $129.00, representing a 61.1% upside. In a report issued on February 22, Wedbush also maintained a Buy rating on the stock with a $126.00 price target.
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Based on Overstock’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $732 million and net profit of $23.39 million. In comparison, last year the company earned revenue of $347 million and had a GAAP net loss of $30.94 million.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OSTK in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Overstock.com, Inc. operates on online shopping commercial site. The firm also sells these products through www.overstock.com, www.o.com, and www.o.biz. It operates through the following business segments: Retail, tZERO, and Other. The Retail Segment engages in e-commerce sales through its website. The tZERO Segment focuses on securities transaction through its broker-dealers. The Other Segment consists of Medici business. The company was founded by Patrick Michael Byrne on May 5, 1997 and is headquartered in headquartered in Salt Lake City, UT.