Overstock (OSTK, $19.47) gets a re-iterated 'buy' from DA Davidson analyst, on interim CEO's leadership potential

Overstock shares climbed at the close of trading on Monday, following D.A. Davidson’s rating.

A  D.A. Davidson analyst reiterated a buy rating on the internet retailer’s stock. The analyst’s price target on the shares is $48.

Senior research analyst Tom Forte indicated in a note that DA Davidson  believes that Overstock's Interim CEO, Jonathan Johnson (who is also the chairman of tZero) is well positioned to lead Overstock (including its Medici Ventures' effort that includes tZero). In recent times, Overstock is looking to branch out (from its e-commerce business) to offer blockchain services, including its tZero cryptocurrency.

Last month, Overstock’s long-time CEO Patrick Byrne resigned citing distraction and fallout related to his involvement in a Federal Bureau of Investigation Russian espionage probe.

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Sergey Savastiouk|Expert

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.