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Seeking Alpha 2021-04-28 20:37:46

Overstock earnings getting extra interest amid crypto fever

Overstock (OSTK) is set to report Q1 earnings before the bell Thursday, with renewed interest in the stock given its exposure to cryptocurrency.Shares are up 0.9% premarket.The consensus EPS Estimate is $0.07 (+117.5% Y/Y) and the consensus revenue estimate is $582.35M (+65.6% Y/Y).Two weeks ago, Wedbush initiated coverage of the stock with an Overweight rating and a $95 price target."Over time, we think that Overstock is well positioned to grow its top line by double digits, and over the course of the next 24 months, we expect to see meaningful contribution from the planned expansion into Canada and from increased traction of sales to the General Services Administration (Federal) and to state and local governments," analyst Michael Pachter wrote in a note. "While the contribution from each of these is expected to be small, we think expansion into Canada could add 10% or more to already robust revenue growth, and think government

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