Maxim Group Thinks Overstockcom’s Stock is Going to Recover

By Carrie Williams

Maxim Group analyst Allen Klee initiated coverage with a Buy rating on Overstockcom (NASDAQ: OSTK) today and set a price target of $75. The company’s shares closed on Friday at $26, close to its 52-week low of $23.10.

Klee observed:

“We expect new initiatives will prompt a shift to profitability in the Retail segment. We believe the Market is underestimating the changes and potential upside from a segment sale.”

According to, Klee is a 2-star analyst with an average return of 3.8% and a 40.7% success rate. Klee covers the Technology sector, focusing on stocks such as Helios & Matheson North America Inc, Net 1 Ueps, and Stampscom.

Overstockcom has an analyst consensus of Moderate Buy, with a price target consensus of $112.

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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 $7.3 million.

Based on the recent corporate insider activity of 62 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., Inc. engages in the operation of and online shopping commercial site. The firm also sells these products through,, and It operates through the following business segments: Direct, Partner, and Other. The Direct business segment includes sales made to individual consumers and businesses.