Overstock.com (OSTK, $17.82) gets a re-iterated 'buy' rating from DA Davidson
Overstock.com shares jumped Tuesday, following a re-iteration of buy rating from a DA Davidson analyst.
Reiterating a $48 price target on the stock, DA Davidson's Tom Forte said that the internet retail company is experiencing improving trends in its legacy retail business. He also indicated his sanguine view of the company’s blockchain investments.
On Monday, Overstock.com CEO Patrick Byrne raised the company’s full-year EBITDA expectation to $17.5 million. He said that better-than-expected financial results point towards the company's retail business' ability to generate enough cash to cover Blockchain's operating cash burn.
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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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General Information
a provider of on-line shopping commercial site
Industry InternetRetail
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