Q1 2023 EPS Estimates for Overstock.com, Inc. (NASDAQ:OSTK) Reduced by Wedbush

Overstock.com, Inc. (NASDAQ:OSTKGet Rating) – Investment analysts at Wedbush lowered their Q1 2023 earnings estimates for shares of Overstock.com in a research note issued on Thursday, April 28th. Wedbush analyst M. Pachter now forecasts that the company will earn $0.32 per share for the quarter, down from their previous estimate of $0.44. Wedbush also issued estimates for Overstock.com’s Q4 2023 earnings at $0.44 EPS and FY2024 earnings at $2.03 EPS.

Several other research analysts have also recently issued reports on OSTK. StockNews.com started coverage on shares of Overstock.com in a report on Thursday, March 31st. They set a “hold” rating for the company. Needham & Company LLC reduced their target price on shares of Overstock.com from $150.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, January 25th. DA Davidson reduced their target price on shares of Overstock.com from $161.00 to $152.00 in a report on Thursday, April 21st. Bank of America cut shares of Overstock.com from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $38.00 in a report on Monday, April 25th. Finally, Zacks Investment Research cut shares of Overstock.com from a “hold” rating to a “strong sell” rating and set a $31.00 target price for the company. in a report on Wednesday, February 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Overstock.com presently has a consensus rating of “Hold” and a consensus target price of $87.25.

NASDAQ OSTK opened at $33.56 on Monday. The company has a fifty day simple moving average of $44.64 and a two-hundred day simple moving average of $61.12. The stock has a market cap of $1.60 billion, a P/E ratio of 4.20, a P/E/G ratio of 1.53 and a beta of 3.92. Overstock.com has a 12-month low of $29.67 and a 12-month high of $111.28. The company has a current ratio of 2.03, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05.

Overstock.com (NASDAQ:OSTKGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). The company had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $573.26 million. Overstock.com had a return on equity of 18.98% and a net margin of 14.56%. The company’s quarterly revenue was down 18.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 EPS.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its stake in Overstock.com by 4.8% during the 3rd quarter. Morgan Stanley now owns 5,045,506 shares of the company’s stock worth $393,146,000 after buying an additional 232,898 shares during the period. Invesco Ltd. grew its holdings in Overstock.com by 1.0% during the 4th quarter. Invesco Ltd. now owns 4,797,717 shares of the company’s stock worth $283,112,000 after acquiring an additional 48,049 shares in the last quarter. BlackRock Inc. grew its holdings in Overstock.com by 2.7% during the 4th quarter. BlackRock Inc. now owns 3,529,797 shares of the company’s stock worth $208,295,000 after acquiring an additional 94,069 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Overstock.com by 6.2% during the 4th quarter. William Blair Investment Management LLC now owns 2,963,442 shares of the company’s stock worth $174,873,000 after acquiring an additional 172,843 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Overstock.com by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 741,652 shares of the company’s stock worth $43,764,000 after acquiring an additional 15,205 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Eric Glen Nickle sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $40.03, for a total transaction of $40,030.00. Following the sale, the insider now directly owns 12,979 shares of the company’s stock, valued at approximately $519,549.37. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Krista Dalton sold 8,036 shares of the company’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $43.60, for a total transaction of $350,369.60. Following the sale, the insider now directly owns 7,292 shares in the company, valued at $317,931.20. The disclosure for this sale can be found here. Insiders sold a total of 19,569 shares of company stock worth $899,645 over the last three months. Insiders own 1.10% of the company’s stock.

Overstock.com Company Profile (Get Rating)

Overstock.com, Inc operates as an online retailer in the United States. The company offers furniture, décor, area rug, bedding and bath, home improvement, outdoor, and kitchen and dining items. It provides its products and services through its internet websites comprising overstock.com, o.co, overstock.ca, and overstockgovernment.com.

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Earnings History and Estimates for Overstock.com (NASDAQ:OSTK)

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