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OSTK

Overstock.com

$80.60

0.9 (1.13%)

15:42
01/12/18
01/12
15:42
01/12/18
15:42

Overstock says will fight 'brash attempt' by SD to 'evade constitution'

Overstock.com said that it recognizes the attention that South Dakota's sales tax case has generated, and looks forward to the opportunity to convince the Supreme Court to confirm its prior rulings protecting the free flow of interstate commerce from overreaching state tax laws. South Dakota's appeal to the U.S. Supreme Court seeks to reverse a lower court decision rejecting the state's effort to abrogate Quill Corp v. North Dakota. South Dakota's petition strives to permit the state to expand its tax authority beyond its borders and impose obligations on out-of-state sellers with no physical presence in the state. "We're confident that as the Supreme Court delves deeper into the issue, it will confirm that the doctrine stated in Quill Corp. v. North Dakota is clear and fair on this matter," said Jonathan Johnson, president of Overstock's subsidiary, Medici Ventures, Inc., and a member of Overstock's board of directors, "That said, unless Congress intercedes, under the U.S. Constitution any retailer without a physical presence in South Dakota cannot be required to collect and remit state sales tax." "States do not have power to conscript individuals or organizations that do not have a physical presence within their state to do the state's job of collecting sales tax," continued Johnson. "It's a straightforward notion. And, disregard for the precedent would have severe consequences for future businesses and individuals." "We will confidently stand shoulder to shoulder with our competitors to fight this brash attempt by the State of South Dakota to evade constitutional law," concluded Johnson.

OSTK Overstock.com
$80.60

0.9 (1.13%)

11/09/17
DADA
11/09/17
NO CHANGE
Target $85
DADA
Overstock.com price target raised to $87 on a potential sale at DA Davidson
DA Davidson analyst Tom Forte raised Buy rated Overstock's price target to $87 from $57 following management comments indicating it was considering strategic alternatives for its home e-commerce business. The analyst believes there is potential to unlock value in its two most significant assets, home e-commerce and Medici Ventures. Forte said his new price target reflects a $58 valuation for the home e-commerce business and $27 for Medici Ventures.
12/01/17
DADA
12/01/17
NO CHANGE
Target $85
DADA
Buy
Overstock.com offers a lot of value, says DA Davidson
DA Davidson analyst Tom Forte keeps his Buy rating and $85 price target on Overstock.com despite the 26% decline in stock price since Friday. Forte says his price target includes $58 valuation for the home e-commerce business based on the price that QVC (QVCA) paid for Zulily in 2015, and $27 for the Medici Ventures subsidiary. The analyst says that much like the "strategic" QVC acquisition, the purchase of Overstock.com e-commerce business could provide a lot of value to larger firms like T.J. Maxx (TJX) or Costco (COST).
12/06/17
BARD
12/06/17
NO CHANGE
BARD
Baird identifies 13 areas of opportunity for Blockchain technology
Baird analyst Colin Sebastian has identified 13 areas of opportunity for Blockchain technology to have an impact. He sees Blockchain as platform enhancing in IoT, virtual goods, cloud storage, online gaming, and eSports. He sees the Blockchain as platform disruptive in online marketing, e-commerce, ride-sharing, digital music/media, and peer-to-peer payments. Sebastian believes technology companies will be talking more about it as they become more engaged in the areas he has mentioned and noted companies such as Amazon (AMZN), Oracle (ORCL) and VMware (VMW) have already recruited engineers with Blockchain experience.
01/08/18
DADA
01/08/18
NO CHANGE
Target $110
DADA
Buy
Overstock.com price target raised to $110 from $85 at DA Davidson
DA Davidson analyst Tom Forte raised his price target on Overstock.com to $110 from $85, citing increased valuation on the company's Medici Ventures - "Overstock's portfolio of investments in ten companies that to varying degrees leverage the blockchain". Forte says the price target increase primarily reflects the view on the company's blockchain investments since its legacy home e-commerce business is valued around $58, adding that it "owns, by far, the best portfolio of blockchain-related assets among current publicly-traded equities". Forte keeps his Buy rating on Overstock.com.

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MET

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CVE

Cenovus Energy

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UTX

United Technologies

$135.52

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Allergan

$187.32

-0.83 (-0.44%)

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HPE

HP Enterprise

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RHHBY

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SQ

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