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 $96.00. The company’s shares closed last Thursday at $82.23.
According to TipRanks.com, Patel is a 3-star analyst with an average return of 4.2% and a 44.4% success rate. Patel covers the Consumer Goods sector, focusing on stocks such as Columbia Sportswear, G-III Apparel Group, and Lululemon Athletica.
Currently, the analyst consensus on Overstock is a Strong Buy with an average price target of $100.00, which is a 16.7% upside from current levels. In a report issued on October 1, Wedbush also reiterated a Buy rating on the stock with a $92.00 price target.
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The company has a one-year high of $128.50 and a one-year low of $2.53. Currently, Overstock has an average volume of 6.74M.
Based on the recent corporate insider activity of 61 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.
