Analysts Just Trimmed Price Targets for These 5 Stocks

01. Overstock.com, Inc. (NASDAQ:OSTK)

Price Reaction after the Price Target Cut: -6.44 (-23.48%)

DA Davidson has lowered its target for Overstock.com, Inc. (NASDAQ:OSTK). The previous target of $87.00 has been adjusted downward to $85.00, reflecting a decrease of approximately 2.3%. This target adjustment has been met with a market reaction, with the stock price declining by approximately 23.5% in response to the revised target. The significant drop in the stock price indicates that investors have reacted negatively to the lowered target by DA Davidson. This reaction may be influenced by concerns about the company’s future performance, industry dynamics, or broader market sentiment. The new target of $85.00 suggests a slightly more cautious outlook than the previous assessment, but it still implies some potential upside from the current market price of $20.99.

Bireme Capital made the following comment about Overstock.com, Inc. (NASDAQ:OSTK)  in its Q4 2022 investor letter:

“Overstock.com, Inc. (NASDAQ:OSTK) was down 21% in Q4, as investors have finally realized that the company’s bitcoin-trading pivot was a farce and they are left with a COVID-era “winner” that faces major headwinds as the pandemic subsides. Current Street estimates predict a -28% sales decline for 2022, EBITDA margins of just 3%, and essentially zero net profit. Arguably Overstock’s largest asset is the cash on its balance sheet, rather than its marginally profitable, zero-growth namesake eCommerce site.”

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