On February 8, 2023, Barclays initiated coverage of Overstock.com with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 94.83% Upside
As of February 8, 2023, the average one-year price target for Overstock.com is $45.08. The forecasts range from a low of $20.20 to a high of $102.90. The average price target represents an increase of 94.83% from its latest reported closing price of $23.14.
The projected annual revenue for Overstock.com is $1,959MM, a decrease of 8.33%. The projected annual EPS is $0.54.
What are large shareholders doing?
Invesco holds 2,647,042 shares representing 5.79% ownership of the company. In it’s prior filing, the firm reported owning 2,822,199 shares, representing a decrease of 6.62%. The firm decreased its portfolio allocation in OSTK by 2.99% over the last quarter.
Simcoe Capital Management holds 1,746,855 shares representing 3.82% ownership of the company. In it’s prior filing, the firm reported owning 2,457,435 shares, representing a decrease of 40.68%. The firm decreased its portfolio allocation in OSTK by 28.16% over the last quarter.
D. E. Shaw & holds 1,539,282 shares representing 3.37% ownership of the company. In it’s prior filing, the firm reported owning 1,372,997 shares, representing an increase of 10.80%. The firm decreased its portfolio allocation in OSTK by 19.99% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,408,598 shares representing 3.08% ownership of the company. In it’s prior filing, the firm reported owning 1,266,300 shares, representing an increase of 10.10%. The firm increased its portfolio allocation in OSTK by 12.89% over the last quarter.
NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 1,160,366 shares representing 2.54% ownership of the company. In it’s prior filing, the firm reported owning 1,089,147 shares, representing an increase of 6.14%. The firm increased its portfolio allocation in OSTK by 8.17% over the last quarter.
Fund Sentiment
There are 409 funds or institutions reporting positions in Overstock.com. This is a decrease of 34 owner(s) or 7.67%.
Average portfolio weight of all funds dedicated to US:OSTK is 0.1620%, a decrease of 5.1917%. Total shares owned by institutions decreased in the last three months by 8.80% to 33,941K shares.
Overstock.com Background Information
(This description is provided by the company.)
Overstock.com, Inc / Series A-1 Preferred Stock (tZERO ATS:OSTKO) / Series B Preferred Stock is an online retailer and technology company based in Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new home products at low prices, including furniture, décor, rugs, bedding, home improvement, and more. The online shopping site, which is visited by tens of millions of customers a month, also features a marketplace providing customers access to millions of products from third-party sellers. Overstock was the first major retailer to accept cryptocurrency in 2014, and in the same year founded Medici Ventures, its wholly owned subsidiary dedicated to the development and acceleration of blockchain technologies to democratize capital, eliminate middlemen, and re-humanize commerce.
This article originally appeared on Fintel
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