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Investing.com — Overstock.com (NASDAQ:OSTK) jumped 8.6% after Wedbush added it to its best ideas list.
Shares of the online home goods retailer are up over 1,000% in 2020, but the research firm still sees upside. The stock is down about 37% since mid-August.
“Our bias for substantial upside to consensus Q3 expectations, and the stock’s historical trading pattern around earnings suggest that there could be meaningful upside from current levels, with shares down 43% from their all-time high of $128.50 on August 19,” Wedbush said, according to Seeking Alpha. “Our proprietary survey results, industry tailwinds, and continued WFH/Shelter-in-place rules suggest to us that Q3 revenue will be closer to flat sequentially than to down 26% as currently implied by consensus estimates.”
Wedbush isn’t alone. The stock has five buy ratings, one hold and nary a sell in sight.
