Analysts gave the Overstock.com, Inc. (OSTK) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2. If we narrow down to specifics, the data shows that none out of 5 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, none recommended OSTK as a Hold, 5 felt it is a Buy and none rated the stock as Underweight. Overstock.com, Inc.’s EPS for the current quarter is expected to be -$0.03.
Instantly OSTK was in green as seen at the end of in last trading. With action 3.11%, the performance over the past five days has been red. The jump to weekly highs of $58.31 on Monday, Dec 28 added 15.18% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.03%, with the 5-day performance at -0.13% in the red. However, in the 30-day time frame, Overstock.com, Inc. (NASDAQ:OSTK) is -0.21% down. Looking at the short shares, we see there were 7.08 Million shares sold at short interest cover period of 1.95 days.
The consensus price target for the stock as assigned by Wall Street analysts is $106, meaning bulls need an upside of 114.31% from its current market value. According to analyst projections, OSTK’s forecast low is $91 with $140 as the target high. To hit the forecast high, the stock’s price needs a +183.06% upsurge from its current level, while the stock would need to tank 83.99% for it to hit the projected low.
Overstock.com, Inc. (OSTK) estimates and forecasts
Data shows that the Overstock.com, Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +26.3% over the past 6 months. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Overstock.com, Inc. will rise +95.9%, while the growth in revenue is estimated to hit 29.3% for the next quarter. Year-over-year growth is forecast to reach 72.3% up from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $648.58 Million. 5 analysts are of the opinion that Overstock.com, Inc.’s revenue for the quarter ending March 01, 2021 will be $506.97 Million. The company’s revenue for the corresponding quarters a year ago was $370.88 Million and $351.57 Million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 74.9%. The estimates for the next quarter sales put growth at 44.2%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -63%. The 2021 estimates are for Overstock.com, Inc. earnings to increase by 49.4%, but the outlook for the next 5-year period is at 0% per year.
Overstock.com, Inc. (NASDAQ:OSTK)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.15% of Overstock.com, Inc. shares while 67.08% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 67.87%. There are 256 institutions holding the Overstock.com, Inc. stock share, with Morgan Stanley the top institutional holder. As of Sep 29, 2020, the company held 11.74% of the shares, roughly 5.02 Million OSTK shares worth $364.62 Million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.63% or 3.26 Million shares worth $236.92 Million as of Sep 29, 2020.
Among Mutual Funds, the top two as of Aug 30, 2020 were Morgan Stanley Insight Fund and Vanguard Total Stock Market Index Fund. With 2124299 shares estimated at $185.88 Million under it, the former controlled 4.97% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.66% of the shares, roughly 1.14 Million shares worth around $82.79 Million.
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