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Fly News Breaks for March 20, 2019
OSTK
Mar 20, 2019 | 07:48 EDT
DA Davidson analyst Tom Forte kept his Buy rating and $51 price target on Overstock.com after its 10-K filing release, which anticipates Q1 revenue to decline by 17%-19% from last year's levels and implies $361M-$370M vs. $421M consensus. The analyst cites the management's "intention to continue to scale back sales and marketing expenses and increase operating efficiencies" with staff reductions, but also remains positive on its Medici Ventures vision to develop blockchain technology, as highlighted in the company's Q4 earnings call.
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