Maxim Group Keeps Their Buy Rating on Overstockcom (OSTK)

By Ryan Adsit

Maxim Group analyst Allen Klee maintained a Buy rating on Overstockcom (OSTKResearch Report) today and set a price target of $75. The company’s shares closed yesterday at $19.52, close to its 52-week low of $18.99.

Klee commented:

“We expect 3Q18 revenue growth of 3% y/y with better contribution from OSTK’s marketing and search engine optimization (SEO) efforts starting to stabilize and a significant improvement in sequential non-GAAP loss per share due to a ratcheting down of sales and marketing expenses.”

According to TipRanks.com, Klee is a 1-star analyst with an average return of -4.7% and a 35.0% success rate. Klee covers the Technology sector, focusing on stocks such as Net 1 Ueps, Stampscom, and Agilysys.

Overstockcom has an analyst consensus of Moderate Buy, with a price target consensus of $93.50.

See today’s analyst top recommended stocks >>

Based on Overstockcom’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $63.42 million. In comparison, last year the company had a GAAP net loss of $764K.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock.

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. engages in the operation of and 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: Direct, Partner, and Other. The Direct business segment includes sales made to individual consumers and businesses.