Double Moving Average Crossover
|Bid||46.99 x 800|
|Ask||47.19 x 3200|
|Day's Range||46.76 - 51.26|
|52 Week Range||2.53 - 51.26|
|Beta (5Y Monthly)||3.80|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 06, 2020 - Aug 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||66.00|
We’ve never seen anything like this. Since the onset of the COVID-induced recession, unprecedented levels of monetary and fiscal stimulus have been pumped into the economy, demonstrating the Federal Reserve’s efforts to support the economic recovery. To prevent the fallout seen during the Great Depression after monetary accommodation was withdrawn too early, the Fed plans to continue this accommodative policy. Against this backdrop, continued volatility could be on tap as the market unpacks the effects of surging COVID-19 cases, the U.S. presidential election, the historic gains from the pandemic-driven low point and economic reopenings. According to some analysts, this combination of continued stimulus and the resulting improvement of the credit market and liquidity sets the stage for growth. We mean business when we say growth. Not just in the short-term, Wall Street pros argue that several names are in it for the long haul, boasting strong growth prospects through 2020 and beyond. Bearing this in mind, we used TipRanks’ database to pinpoint three stocks flagged by members of the Street for their impressive long-term growth narratives, with each Buy-rated ticker sporting over 30% upside potential. This is on top of the huge gains each has already posted in 2020. Arconic (ARNC) Hoping to advance the automotive, aerospace, commercial transportation, industrial and building and construction markets, Arconic offers aluminum sheet, plate and extrusions, as well as cutting-edge architectural products. Even though the company has experienced headwinds in the aerospace sector, it has managed to add 110% to its share price since April 1, with one analyst calling for even more gains. Writing for Credit Suisse, four-star analyst Curt Woodworth believes the third quarter represents “a major inflection point as Ford and GM truck/SUV production sharply accelerates and OEMs need to restock heat-treat plate, which has limited shelf life.” Looking at its Q1 performance, he cites the fact that despite the rough macro conditions, segment EBIT rose 26% year-over-year with margins up 310 basis points. This demonstrates the system-wide restructuring benefit, in Woodworth’s opinion. To support his bullish thesis, Woodworth points out that ARNC has multiple growth levers including its 600 million pounds of excess capacity, which is slated to be absorbed by automotive and even packaging over the next two years. “ARNC won material share on the new 2020 GM SUV launches and should see sharply higher utilization rates at its Tenn. plant by end 2020. Once ARNC’s non-compete with Alcoa expires in 4Q, we expect ARNC to quickly re-qualify for US can sheet production, which could add $40 million to EBITDA,” he added. It should be noted that 737 Max issues at Boeing have taken a toll on demand. While Woodworth’s estimates for aerospace volumes in 2020-2021 are conservative, he stated, “... we expect aerospace will be a material driver in 2022-24 as build rates accelerate, especially for the 737 Max where ARNC has a high margin content share.” Speaking to its valuation, Woodworth thinks it’s compelling given the company’s “strong positions and ~250kt spare capacity.” Adding to the good news, the robust free cash flow could enable the dividend policy to kick off in early 2021. Everything that ARNC has going for it prompted Woodworth to initiate coverage with an Outperform rating and set a $22 price target. This target implies shares could climb 52% higher in the next year. (To watch Woodworth’s track record, click here) Turning now to the rest of the Street, it has been quiet when it comes to other analyst activity. Woodworth’s call is the only recent review, so the consensus rating is a Moderate Buy. (See Arconic stock analysis on TipRanks) Moderna Inc. (MRNA) Biotech company Moderna is no stranger to the spotlight, thanks to its efforts to advance a COVID-19 vaccine. Despite having already gained 220% in 2020, several analysts believe that there’s still plenty of fuel left in the tank. Pointing to the encouraging Phase 1/2 results from Pfizer and BioNTech’s competing mRNA/LNP-based COVID-19 vaccine, five-star analyst George Farmer, of BMO Capital, argues that they are a positive for MRNA. According to the analyst, the data “supports the utility of this technology platform against SARS-CoV-2 and the likelihood of success of MRNA’s mRNA-1273.” Looking specifically at Pfizer/BioNTech’s candidate, BNT162b1, it is one of several mRNA vaccine candidates against SARS-CoV-2. Remarkably, after 28 days, 24 participants receiving two injections of either 10 ug or 30 ug of the vaccine generated neutralizing antibody titers against coronavirus infection that were about 2-3 times what was seen in convalescent sera used as controls. On top of this, the vaccine had a robust safety profile. Turning to mRNA-1273, two injections of Moderna’s experimental vaccine produced neutralizing antibody titers in 8 out of 8 subjects that reached or exceeded titers generally measured in convalescent sera. “In contrast to mRNA-1273, which encodes for a version of the complete trimeric coronavirus Spike protein, BNT162b1 encodes for just the Spike protein receptor binding domain (RBD). Whether this makes a difference in relative potency remains to be seen; however protection conferred by DNA vaccines encoding the RBD or full-length Spike appeared comparable in macaques,” Farmer commented. While Farmer points out that these results set up a “head-to-head competition”, with Pfizer/BioNTech’s timeline and scale matching MRNA’s Phase 3 plans, he remains optimistic. “These results also set up a competitive race between the PFE/BNTX and MRNA vaccines, but the potential market is certainly large enough to accommodate both, in our view,” he said. As a result, Farmer is still giving MRNA a thumbs up, reiterating his Outperform call. In addition, the price target stays at $112. Should the target be met, a twelve-month gain of 79% could be in store. (To watch Farmer’s track record, click here) In general, other analysts are on the same page. 12 Buys and 2 Holds add up to a Strong Buy consensus rating. Based on the $85.36 average price target, the upside potential comes in at 36%. (See Moderna stock analysis on TipRanks) Overstock.com (OSTK) Last but not least, we come across Overstock.com, which is a tech-driven online retailer that sells products ranging from furniture and home décor to apparel and jewelry. Given the strong projections for 2020 sales and its year-to-date gain of 591%, one member of the Street is taking an even more bullish stance. Representing D.A. Davidson, five-star analyst Tom Forte tells clients that several factors have made him more optimistic going forward. First and foremost, separate from COVID-19, the company has made improvements to the business. That’s not to say COVID-19 hasn’t had an impact on OSTK. During the months of April and May, the company reported a 120% gain in sales as a result of the pandemic, with the strength persisting in June. Weighing in on this result, Forte commented, “Further, when considering the valuations for other e-commerce players managing surges in demand from COVID-19, including its closest peer Wayfair (which, according to Capital IQ, trades at more than 1.6x EV/Sales), should Overstock be able to further exploit the opportunity and emerge with faster sales growth than we are currently forecasting, we see the potential for upside to our one-turn multiple.” If that wasn’t enough, Forte highlights the “government contract it won (a $6B annual spend, while recognizing it was one of three providers selected, along with Amazon and Fisher Scientific).” Based on all of the above, Forte assigned a new price target, in addition to staying with the bulls. He didn’t just lift the figure, he set the new Wall Street high when he bumped up the price target from $33 to $66. This new figure conveys his confidence in OSTK’s ability to surge 35% in the next twelve months. (To watch Forte’s track record, click here) Like ARNC, OSTK has stayed relatively under-the-radar, as Forte is the only analyst to have thrown an opinion into the mix recently. To this end, the stock gets a Moderate Buy consensus rating. (See Overstock.com stock analysis on TipRanks)
Overstock.com, Inc. (NASDAQ: OSTK) shares are trading higher on Friday.The Delaware Supreme Court recently ruled in favor of Overstock.com, in its gift card escheatment appeal. The 5-0 decision by the Delaware Supreme Court reversed the lower Delaware Superior Court's judgment for $8.6 million against Overstock.Overstock.com is a U.S-based online retailer that provides products and services through websites. The company offers a broad range of products, including furniture and home decor, jewelry, watches, apparel and accessories, BMMG (like books, magazines, CDs), electronics, and other items. The home and garden product line accounts for a material part of its total revenue.The company operates through direct business that makes sales from the company's own inventory, and partner business that sells merchandise from manufacturers, distributors and other suppliers through the company's websites.Overstock shares were trading up 7.85% at $48.72 on Friday. The stock has a 52-week high of $50.65 and a 52-week low of $2.53.See more from Benzinga * Why Everi's Stock Is Trading Higher Today * Why Unum Therapeutics Is Trading Higher Today * Why Oragenics Stock Is Trading Higher Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
SALT LAKE CITY, July 10, 2020 -- Medici Ventures, the wholly owned blockchain subsidiary of Overstock.com, Inc. (NASDAQ:OSTK), congratulates its blockchain-based company.
SALT LAKE CITY, July 08, 2020 -- The Delaware Supreme Court recently ruled in favor of Overstock.com, Inc. (NASDAQ:OSTK) in its gift card escheatment appeal. The 5-0 decision.
A look at the shareholders of Overstock.com, Inc. (NASDAQ:OSTK) can tell us which group is most powerful. Institutions...
Stormy Simon, the former CEO of HighTimes Holdings and former president of Overstock.com Inc (NASDAQ: OSTK), is currenly a 2020 candidate for the District 21 seat in the Utah State House of Representatives.She's alao launching a new podcast.The series, Lunch with Stormy, debuts Tuesday and is expected to bring a powerful perspective to state governance, global commerce, and the advancement of equity in America. It will also feature conversations with tastemakers and unexpected thought leaders, delving into topics including reinvention, unique business practices, and the role that modern spirituality plays in our daily lives. "I've always loved storytelling and I've been on a perpetual quest for reinvention of self since I left the top post at Overstock.com in 2016, to venture into the cannabis industry," Simon told Benzinga. "Lunch with Stormy allows me to be the conduit for sharing other people's stories of transformation while creating a meaningful platform for diverse voices to be heard." See also: Former NBA Star John Salley Joins Insurance Pro Daron Phillips To Offer Cannabis CoverageSimon's worldview, signature humor, and natural curiosity with featured guests will be featured each week in hour-long episodes.The First Episode The premiere episode is an in-depth interview with producer, actress and Skinny Bish Keto author Torrei Hart."Torrei truly epitomizes transformation and reinvention as the world is learning to cope with COVID-19 and stretch our collective selves with the powerful reckoning that is Black Lives Matter," said Simon. Simon and Hart first met at a Visionary Women event celebrating International Women's Day in March of this year, right before COVID-19 halted all in-person events. An Los Angeles-based non-profit focused on the empowerment of women, the event benefited Visionary Women and honored Jane Fonda for her lifetime of activism and outreach. See also: New Podcast: 'Field Tripping: Epic Trips In Psychedelics'Stormy's Story Simon began her tenure at Overstock.com as a temp and eventually became president. While at the company, she built Overstock's branding, marketing and customer service departments.Under Simon's guidance, Overstock was named to Forbes' list of "America's 100 Most Trustworthy Companies," and received multiple Mobile Web and Stevie awards. By 2013, Overstock was valued at nearly $2 billion. Stormy garnered numerous distinctions for her efforts in customer service including ranking in the top 4 AMEX/NRF Customer Choice Awards for six years in a row. She was honored as Power Player on The List 2016 by the National Retail Federation, was named the Customer Champion by Gartner 1to1 Media, and awarded Top Innovator by Utah Women in Tech in 2015. A devoted mentor to her female employees and a longtime advocate for women overall, one of her proudest achievements was growing the ranks of female executives at Overstock from 7% to 33%. Before Overstock, Simon delved into radio, where a mentor encouraged her to podcast. "The minute I sat down in front of a mic, after many years away, it all came flooding back to me," Simon said. "I love the intimacy of communicating with listeners through this medium -- it's an elevated version of the traditional radio experience." Lunch With Stormy premieres today online at www.stormysimon.com where listeners can subscribe to the podcast using their favorite platforms.Noticias sobre cannabis en Español en El Planteo.See more from Benzinga * NCIA Offers Complimentary Membership To Social Equity Cannabis Applicants, Licensees(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Overstock.com, Inc. (OSTK) was awarded a U.S. government contract with the General Services Administration (GSA) as one of three online retailers providing business-to-business (B2B) e-commerce capabilities for federal agencies. The GSA Commercial e-Marketplace Acquisition contract leverages Overstock’s technology and 20 years of experience in B2B and B2C e-commerce to the government with easy access to furniture, supplies, and other commercial off-the-shelf (COTS) goods. “We’re thrilled GSA has selected us for this exclusive group of online retailers to participate in this proof-of-concept pilot program which will allow us to supply key items like office furniture and equipment to government agencies,” said Jonathan Johnson, CEO of Overstock.com.
(Bloomberg) -- Overstock.com Inc. became a household name as an e-commerce pioneer, but in recent years excitement in the investment community was focused more on the company’s blockchain efforts. The pandemic has changed all that.With demand from online shoppers soaring, sales at Overstock’s retail business have helped transform a moribund stock to one of the Covid-era’s best performers, an irony for a unit that had long been considered for sale. Overstock shares have gained nearly 11-fold since closing at a record low on March 16, vaulting the company into the top five stocks in the Nasdaq Composite Index over that period. With virus cases on the rise again in the U.S., that trend is showing no signs of slowing.“This is an e-commerce pandemic play on steroids,” said Tom Forte, an analyst at D.A. Davidson. He is one of the few analysts on Wall Street to track the stock, which gained another 5% on Tuesday.Overstock’s revival is the latest turn in the company’s tumultuous history, which until last year took place under the leadership of founder Patrick Byrne. Byrne stepped down as chief executive officer after disclosing a tryst with a Russian operative in conspiracy-tinged statements. More recently, Overstock’s first-of-its kind digital dividend has added another element of controversy with the company insisting trading in the dividend take place on its tZERO venue.Byrne was an early devotee of cryptocurrencies and steered Overstock into blockchain investments that helped briefly send the stock soaring in late 2017 at the height of cryptocurrency mania, which downgraded the importance of the retail business in the minds of some investors.The growth in online shopping has changed that calculus, and CEO Jonathan Johnson said he has “no interest” in selling the e-commerce business. Last month, Overstock said retail sales had more than doubled in the second quarter on booming demand for furnishings from customers confined to their homes. The trend of strong sales has continued in June and with new customers flocking to Overstock the company is confident it can continue to gain market share, Johnson said in an interview.“It’s going to be a long time before people go back to showrooms to look at home furnishings,” said Johnson, who has led Overstock since August. “I think there will have been a significant shift in people’s comfort level of buying home goods online.” The company is expected to report second-quarter financial results sometime in August.The Overstock rally is an extreme example of a trend that has been seen broadly across e-commerce stocks over the past few months, especially in decor and home improvement. Analysts have said the increased demand for shopping online -- which Baird estimated could represent a $200 billion annual tailwind -- could be a permanent shift in consumer behavior.“Fundamentally, e-commerce remains on a tear,” wrote Marvin Fong, an analyst at BTIG, who noted that trends were holding up even as parts of the country reopen. “Even if local governments lift restrictions, fear of a resurgent level of infections could keep consumers staying at home and buying from their computers throughout the summer and possibly longer.”Among other winners, Wayfair Inc. is up nearly 800% from a March low and analysts expect more gains. Amazon.com Inc. is up more than 60% from a recent low, while EBay Inc. has climbed nearly 90% and both Etsy Inc. and Fiverr International have more than tripled. Chewy Inc., an online retailer of pet products, is up about 120% from a March low. All are at or near record levels, as is the Amplify Online Retail ETF, an exchange-traded fund that has nearly doubled since March and which has seen its strongest two months of inflows since 2018, according to data compiled by Bloomberg.(Updates shares in second and third paragraphs.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Overstock.com Inc (NASDAQ: OSTK) said its retail sales in April and May were up 120% year-over-year as the company is a beneficiary from the stay-at-home environment and the company expects to see continued momentum in the near-term, Overstock CEO Jonathan Johnson said during a Fox Business interview.What To Know: Many people "still aren't ready" to return to furnishing stores to test couches, beds, and other furniture due to the coronavirus pandemic, Johnson said. The online venue clearly remains "the place" to buy home furnishing items.Despite the lockdown easing across the U.S., the company is still seeing "really nice" sales growth since the start of June, he said.Why It's Important: Shopping habits clearly changed since the start of the pandemic and the company continues to expect to see a "strong" double-digit growth rate through the summer.Johnson is putting his money where his mouth is and said he bought Overstock's stock in March when shares were "way undervalued.""I will tell you this," he said, "we are benefiting from the tailwind of stay-at-home mandates but I do think over the last nine months, our increased focus on execution has really helped."What's Next: Overstock is a better business today than it was a year ago and "there is a lot of growth potential" moving forward, Johnson said.Overstock traded around @22.91 per share at time of publication. The stock has a 52-week high of $29.75 and a 52-week low of $2.53.Related Links:Pro: Apple Shares Have Room To Run To 0Beyond Meat's Stock Gains After Launching Affordable 'Cookout Classic' LineSee more from Benzinga * Beyond Meat's Stock Gains After Launching Affordable 'Cookout Classic' Line * Pro: Apple Shares Have Room To Run To 0 * DraftKings Takes Advantage Of 'Favorable Market Conditions' With Share Offering(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Board of Directors of Overstock.com, Inc. (OSTK) appointed William Nettles as a new independent director as of June 12, 2020. Nettles is a co-founder and managing partner of Invictus Growth Partners, a private equity firm located in San Francisco, CA that invests in and advises automation-enabled technology companies. “We welcome William to the Overstock board,” said Overstock Chairwoman of the Board Allison Abraham.
Slowly, Americans are migrating back to a very different world — offices designed to accommodate social distancing, staggered schedules, temperature checks, daily deep cleanings, contact tracing and potential testing.
The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]
Shares of Overstock (NASDAQ: OSTK) have jumped today, up by 8% as of 1:45 p.m. EDT, after the company said that its tZERO ATS cryptocurrency trading platform saw record engagement last month. Following the distribution of a digital dividend to Overstock shareholders last month, tZERO saw transactions in May jump by fourfold to 423,000. Transaction volumes have increased by almost 50% year to date through May, according to Overstock.
Shares of Overstock jumped Wednesday amid a surge of interest in the online retailer's cryptocurrency trading platform tZero and its cryptocurrency app. Overstock's stock price surged 6.01% to $23.28 a share after the internet shopping giant reported that its tZero digital currency trading platform handled a record number of transactions in May. The platform, tZero ATS (Alternative Trading System), saw 423,000 digital securities traded last month, four times the volume of last May and a internal record.
tZERO, the global leader in blockchain innovation for capital markets, announced today several records following the successful issuance of Overstock’s innovative dividend (OSTKO). Last month, the tZERO ATS recorded its strongest month ever, transacting over 423,000 digital securities, a 4x increase compared to May 2019. Year-to-date through May, the volume is up nearly 50% compared to the same period last year.
tZERO, the global leader in blockchain innovation for capital markets, announced today that it has won the 2020 FTF News Technology Innovation Award for the ‘Best Blockchain Solution of the Year’ category. As the securities industry is moving ahead with new solutions that use distributed ledger technology (DLT), this award honors the breakthrough systems that will advance the operations of the securities industry the most.
Overstock.com, Inc. (OSTK) distributed a stockholder dividend paid in shares of its Digital Voting Series A-1 Preferred Stock, OSTKO, on May 19, 2020. Since that issuance, the company has received numerous questions from investors regarding the Digital Voting Series A-1 Preferred Stock and is reiterating its key attributes in response to those questions, which have been previously disclosed in stockholder materials in connection with the dividend.
What happened Overstock.com (NASDAQ: OSTK) shareholders dramatically outperformed the stock market last month. The stock rose 46% in May compared to a 4.5% increase in the S&P 500, according to data provided by S&P Global Market Intelligence.
tZERO, the global leader in blockchain innovation for capital markets, announced today that broker-dealers ChoiceTrade and a multinational, publicly-traded investment bank and financial services company focused on institutional brokerage are now live and trading on the tZERO ATS. These broker-dealers join Dinosaur Financial Group, LLC as subscribers to the tZERO ATS. Customers of those broker-dealers are now able to trade Overstock’s innovative Series A-1 dividend shares, which were issued to Overstock shareholders last week. These firms and their customers are expected to have access to TZROP (tZERO's preferred equity security) and other assets that trade on the tZERO ATS in the near future. The tZERO ATS now has three active subscribers and has signed four additional agreements with progressive broker-dealers interested in trading securities.
On May 19, 2020, Overstock.com, Inc. (OSTK) paid a dividend to stockholders of record as of April 27, 2020 in the form of shares of Digital Voting Series A-1 Preferred Stock, OSTKO, which is registered with the Securities Exchange Commission under the Securities Act of 1933. “It has come to the company’s attention that shares of Series A-1 Preferred Stock are being sold on platforms other than the alternative trading system (ATS), operated by tZERO ATS, LLC,” said Overstock Chief Executive Officer Jonathan Johnson.
Overstock.com, Inc. (OSTK) announces that it has successfully completed the issuance of its Digital Voting Series A-1 Preferred Stock (“Series A-1”) (OSTKO) digital dividend on May 19, 2020, as expected. The dividend was issued in Series A-1 shares on a 1:10 basis to all Overstock shareholders as of the record date of April 27, 2020. Overstock distributed the dividend shares though its transfer agent, Computershare, to investors’ brokerage or other custodial accounts in which they hold their Overstock securities, and no action by shareholders was necessary for them to receive the dividend.
Shares of Overstock (NASDAQ: OSTK) were flying higher once again on Tuesday, after shares of its digital dividend were distributed. As of 1:45 p.m. EDT, shares of its common stock were trading an impressive 19% higher on the Nasdaq exchange. While the digital dividend is today's news specifically tied to Overstock, it's also possible the stock is moving higher as investors continue to favor e-commerce companies.
At Overstock's annual meeting last week, CEO Jonathan Johnson said that quarter-to-date sales were up 130% year over year, with new customers up 260% during the period, as more consumers than ever were embracing online shopping. Peloton's sales -- and shares -- have surged since March. Peloton has a similar story to tell.