Strong fundamental momentum pushes Overstock.com Inc. (OSTK) higher – Marketing Sentinel

Strong fundamental momentum pushes Overstock.com Inc. (OSTK) higher

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The consensus among analysts is that Overstock.com Inc. (OSTK) is a Buy stock at the moment, with a recommendation rating of 1.6. None of the analysts rate the stock as a Sell, while none rate it as Overweight. None out of 5 have rated it as a Hold, with 5 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.46.

Overstock.com Inc. (NASDAQ:OSTK) trade information

Sporting 9.44% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Thursday, Apr 29 when the OSTK stock price touched $88.40- or saw a rise of 7.81%. Year-to-date, Overstock.com Inc. shares have moved 69.9%, while the 5-day performance has seen it change 16.16%. Over the past 30 days, the shares of Overstock.com Inc. (NASDAQ:OSTK) have changed 25.15%. Short interest in the company has seen 3.48 Million shares shorted with days to cover at 1.18.

Wall Street analysts have a consensus price target for the stock at $120, which means that the shares’ value could jump 47.24% from current levels. The projected low price target is $105 while the price target rests at a high of $140. In that case, then, we find that the current price level is +71.78% off the targeted high while a plunge would see the stock lose 28.83% from current levels.

Overstock.com Inc. (OSTK) estimates and forecasts

Figures show that Overstock.com Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +13.23% over the past 6 months, with this year growth rate of 20.16%, compared to 14.6% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are -48.9% and -16% for the next quarter. Revenue growth from the last financial year stood is estimated to be +11.1%.

5 analysts offering their estimates for the company have set an average revenue estimate of $765.34 Million for the current quarter. 5 have an estimated revenue figure of $714.02 Million for the next quarter concluding in September 01, 2021. Year-ago sales stood $597.6 Million and $579.89 Million respectively for this quarter and the next, and analysts expect sales will grow by 28.1% for the current quarter and 23.1% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +65.7% over the past 5 years. Earnings growth for 2021 is a modest +135.8%.

Overstock.com Inc. (NASDAQ:OSTK)’s Major holders

Insiders own 0.93% of the company shares, while shares held by institutions stand at 65.77% with a share float percentage of 66.39%. Investors are also buoyed by the number of investors in a company, with Overstock.com Inc. having a total of 299 institutions that hold shares in the company. The top two institutional holders are Morgan Stanley with over 4.31 Million shares worth more than $206.9 Million. As of December 30, 2020, Morgan Stanley held 9.07% of shares outstanding.

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The other major institutional holder is Blackrock Inc., with the holding of over 3.55 Million shares as of December 30, 2020. The firm’s total holdings are worth over $170.24 Million and represent 7.46% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are Morgan Stanley Insight Fund and Vanguard Total Stock Market Index Fund. As of December 30, 2020, the former fund manager holds about 3.1% shares in the company for having 1473980 shares of worth $70.71 Million while later fund manager owns 1.15 Million shares of worth $54.99 Million as of December 30, 2020, which makes it owner of about 2.41% of company’s outstanding stock.

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