Why is overstock dropping?
Will Overstock stock go back up?
Is Overstock stock a good buy?
Is Overstock stock overvalued?
Is Ostk a buy or sell?
Is Ostk a good stock to buy?
Overstock.com Q4 Earnings & Revenues Lag Estimates
Quarter Details
Overstock.com reported fourth-quarter 2020 earnings of 26 cents per share that missed the Zacks Consensus Estimate by 13.3%. Notably, the company had reported loss of 73 cents in the year-ago quarter.#N#Revenues of $684 million jumped 84.4% year over year. The figure also lagged the consensus mark by 6.4%.
Key Q1 Development
Retail revenues (98% of revenues) were $669.7 million, up 83.9% year over year. Home furnishings were more than 90% of fourth-quarter sales.#N#Markedly, growth in new customers was 94% year over year in the quarter under review.
Outlook
On Jan 25, 2021, Overstock.com entered into a partnership with Pelion Venture Partners, a third-party venture capital firm, to oversee Medici Ventures’ blockchain assets.
How much did Overstock lose in 2020?
Overstock.com expects steady EBITDA margin performance in the mid-single digits range over the long term.
Is Overstock a partnership?
Notably, the company had reported loss of 73 cents in the year-ago quarter.
Is Overstock a partnership?
On Jan 25, 2021, Overstock.com entered into a partnership with Pelion Venture Partners, a third-party venture capital firm, to oversee Medici Ventures’ blockchain assets. Per the agreement, MediciVentures, Overstock.com’s wholly owned blockchain-focused subsidiary, will be converted to a limited partnership (the Fund), which will have an eight-year life and a total capital commitment of $45 million.
How much is Overstock worth in 2020?
On Jan 25, 2021, Overstock.com entered into a partnership with Pelion Venture Partners, a third-party venture capital firm, to oversee Medici Ventures’ blockchain assets. Per the agreement, MediciVentures, Overstock.com’s wholly owned blockchain-focused subsidiary, will be converted to a limited partnership (the Fund), which will have an eight-year life and a total capital commitment of $45 million.
Highlights from Overstock's Q3 earnings
As of Dec 31, 2020, Overstock.com had cash and cash equivalents worth $521 million compared with $529.7 million as of Sep 30, 2020. Long-term debt as of Dec 31, 2020, was $41.3 million compared with $42.1 million as of Sep 30, 2020. Story continues. Key Q1 Development.
Why is Overstock stock going down?
Overstock released its third-quarter earnings on Thursday before the opening bell. The company reported revenue of $732 million, which increased 111 percent from a year ago and handily beat the consensus estimate at $586 million. Overstock delivered an EPS of $0.50, which improved from -$0.89 a year ago and beat the consensus estimate at -$0.02.
What can investors expect from OSTK stock?
Despite Overstock’s generally strong earnings, the stock still fell. The decline in OSTK stock seems to have nothing to do with the quality of the earnings. Instead, factors like the U.S. election next week and some investors booking profits may explain why OSTK stock is going down.
The high-flying e-commerce and blockchain technology stock had some wind taken out of its sails in October
The most bullish analyst sees a 125 percent upside in OSTK stock from the current level to $140. Even the most bearish OSTK stock price target of $78 implies a 25 percent upside potential. Is the stock right for your portfolio? Overstock has been the subject of discussion on Stocktwits, Reddit, and other social spaces that bring together investors.
What happened
Anders Bylund is a Foolish Technology and Entertainment Specialist. Where the two markets intersect, you'll find his wheelhouse. He has been an official Fool since 2006 but a jester all his life.
So what
Shares of Overstock.com ( NASDAQ:OSTK) fell 22.8% in October 2020, according to data from S&P Global Market Intelligence. The online home furnishings retailer and blockchain technology researcher published its third-quarter results on Oct. 29, setting off a thrilling roller-coaster ride.
Now what
The earnings report richly deserved the morning's big jump. Overstock's third-quarter sales rose 111% year over year to $732 million, while the bottom line swung from a loss to positive earnings of $0.50 per share. Your average analyst would have settled for a net loss of $0.23 per share on roughly $580 million in top-line sales.
A new rapid COVID-19 test has investors reversing the stay-at-home trades
The third-quarter report was actually very impressive. The tZERO blockchain-based trading platform saw trading volumes grow 20-fold compared to the year-ago period and cryptocurrency prices are generally on the rise, underscoring the potential of Overstock's blockchain technologies.
What happened
Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years.
So what
The share price of online retailer Overstock.com ( NASDAQ:OSTK) dropped 17% earlier today, before closing down just over 12%. And the reason may have nothing directly to do with the retail sector.
Now what
Overstock.com is one of the companies that has benefited from the impacts of the coronavirus pandemic. Americans who have been stuck at home have been spending money to spruce up and improve their living spaces.
Why is Overstock going up this year?
Overstock CEO Jonathan Johnson commented after the second-quarter earnings release, "Importantly, our customers are buying our core products -- home furnishings -- from the safety of their homes as part of the country's new normal."
What is Overstock's stock price today?
Households have started shopping online during the COVID-19 pandemic. The change has boosted business for e-commerce companies. They have been reporting big jumps in their earnings. As a result, investors are accumulating e-commerce stocks .
Overstock.com Q4 Earnings & Revenues Lag Estimates
- Overstock.com reported fourth-quarter 2020 earnings of 26 cents per share that missed the Zacks Consensus Estimate by 13.3%. Notably, the company had reported loss of 73 cents in the year-ago quarter. Revenues of $684 million jumped 84.4% year over year. The figure also lagged the consensus mark by 6.4%.
Quarter Details
- Retail revenues (98% of revenues) were $669.7 million, up 83.9% year over year. Home furnishings were more than 90% of fourth-quarter sales. Markedly, growth in new customers was 94% year over year in the quarter under review. Moreover, new-customer repeat-purchase rate increased more than 6%. Additionally, orders placed on a mobile device were 50% of gross merchandise sa…
Key Q1 Development
- On Jan 25, 2021, Overstock.com entered into a partnership with Pelion Venture Partners, a third-party venture capital firm, to oversee Medici Ventures’ blockchain assets. Per the agreement, MediciVentures, Overstock.com’s wholly owned blockchain-focused subsidiary, will be converted to a limited partnership (the Fund), which will have an eight-year life and a total capital commitm…
Outlook
- Overstock.com expects steady EBITDA margin performance in the mid-single digits range over the long term. How Have Estimates Been Moving Since Then? In the past month, investors have witnessed a downward trend in estimates review. The consensus estimate has shifted -84.91% due to these changes. VGM Scores At this time, Overstock has a strong Growth...
Overstock.com Q4 Earnings & Revenues Lag Estimates
- Overstock.com reported fourth-quarter 2020 earnings of 26 cents per share that missed the Zacks Consensus Estimate by 13.3%. Notably, the company had reported loss of 73 cents in the year-ago quarter. Revenues of $684 million jumped 84.4% year over year. The figure also lagged the consensus mark by 6.4%.
Quarter Details
- Retail revenues (98% of revenues) were $669.7 million, up 83.9% year over year. Home furnishings were more than 90% of fourth-quarter sales. Markedly, growth in new customers was 94% year over year in the quarter under review. Moreover, new-customer repeat-purchase rate increased more than 6%. Additionally, orders placed on a mobile device were 50% of gross merchandise sa…
Key Q1 Development
- On Jan 25, 2021, Overstock.com entered into a partnership with Pelion Venture Partners, a third-party venture capital firm, to oversee Medici Ventures’ blockchain assets. Per the agreement, MediciVentures, Overstock.com’s wholly owned blockchain-focused subsidiary, will be converted to a limited partnership (the Fund), which will have an eight-year life and a total capital commitm…
Outlook
- Overstock.com expects steady EBITDA margin performance in the mid-single digits range over the long term. How Have Estimates Been Moving Since Then? In the past month, investors have witnessed a downward trend in estimates review. The consensus estimate has shifted -84.91% due to these changes. VGM Scores At this time, Overstock has a strong Growth...