B of A Securities downgraded its rating of Overstock.com (NASDAQ:OSTK) to Neutral with a price target of $38.00, changing its price target from $85.00 to $38.00.
Shares of Overstock.com are trading down 5.79% over the last 24 hours, at $31.74 per share.
A move to $38.00 would account for a 19.72% increase from the current share price.
About Overstock.com
Overstock.com Inc is an 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 account for a material part of its total revenue. The company operates through a direct business that makes sales from the company's own inventory, and a partner business that sells merchandise from manufacturers, distributors and other suppliers through the company's websites. The company generates the majority of its total revenue from partner business in terms of business format, and from the U.S. in terms of market.
About Analyst Ratings
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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
