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Overstock.com (OSTK) to Report Q1 Earnings: What's in Store?
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Overstock.com is set to report first-quarter 2021 results on Apr 29.
For the quarter, the Zacks Consensus Estimate for earnings has increased by 75% to 7 cents per share over the past 30 days. The figure indicates a 117.5% surge from the year-ago reported figure.
The consensus mark for revenues, pegged at $611.4 million, implies 74% growth from the year-ago reported figure.
Let’s see how things are shaping up for this announcement.
Factors to Consider
Overstock.com’s first-quarter 2021 results are expected to have benefited from strong demand for e-commerce service amid shelter-in-place guidelines resulting from the coronavirus outbreak. Ongoing shift to buying home-furnishing products online is expected to have benefited top-line growth.
Moreover, the company’s expanding clientele is likely to have driven top-line growth. Markedly, in fourth-quarter, new customer growth was 94%. The momentum is expected to have continued in the going-to-be reported quarter.
Additionally, tZERO continues to gain market share. An expanding partner base with the addition of the likes of Realio and DigiShares in the to-be-reported quarter is a noteworthy development. Moreover, growing tZERO crypto app user base is expected to boost results.
Further, gross margin is expected to have benefited from improved operating efficiencies.
Key Q1 Development
On Jan 25, 2021, Overstock.com entered into a partnership with Pelion Venture Partners – a third-party venture capital firm – to oversee Medici Ventures’ blockchain assets. Per the agreement, MediciVentures, Overstock.com’s wholly owned blockchain-focused subsidiary, will be converted to a limited partnership (the Fund) which will have an eight-year life and a total capital commitment of $45 million.
Overstock.com will be a limited partner in the Fund while Pelion will act as general partner. The Fund will return invested capital to Overstock.com first and then split profits on successful exits as outlined in its Limited Partnership Agreement.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case.
Overstock.com has an Earnings ESP of +192.31% but a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering as per our model, as these have the right combination of elements to beat on earnings this reporting cycle:
CDW Corporation (CDW - Free Report) has an Earnings ESP of +0.51% and a Zacks Rank #2.
Citrix Systems has an Earnings ESP of +0.15% and a Zacks Rank #2.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Image: Bigstock
Overstock.com (OSTK) to Report Q1 Earnings: What's in Store?
Overstock.com is set to report first-quarter 2021 results on Apr 29.
For the quarter, the Zacks Consensus Estimate for earnings has increased by 75% to 7 cents per share over the past 30 days. The figure indicates a 117.5% surge from the year-ago reported figure.
The consensus mark for revenues, pegged at $611.4 million, implies 74% growth from the year-ago reported figure.
Overstock.com, Inc. Price and EPS Surprise
Overstock.com, Inc. price-eps-surprise | Overstock.com, Inc. Quote
Let’s see how things are shaping up for this announcement.
Factors to Consider
Overstock.com’s first-quarter 2021 results are expected to have benefited from strong demand for e-commerce service amid shelter-in-place guidelines resulting from the coronavirus outbreak. Ongoing shift to buying home-furnishing products online is expected to have benefited top-line growth.
Moreover, the company’s expanding clientele is likely to have driven top-line growth. Markedly, in fourth-quarter, new customer growth was 94%. The momentum is expected to have continued in the going-to-be reported quarter.
Additionally, tZERO continues to gain market share. An expanding partner base with the addition of the likes of Realio and DigiShares in the to-be-reported quarter is a noteworthy development. Moreover, growing tZERO crypto app user base is expected to boost results.
Further, gross margin is expected to have benefited from improved operating efficiencies.
Key Q1 Development
On Jan 25, 2021, Overstock.com entered into a partnership with Pelion Venture Partners – a third-party venture capital firm – to oversee Medici Ventures’ blockchain assets. Per the agreement, MediciVentures, Overstock.com’s wholly owned blockchain-focused subsidiary, will be converted to a limited partnership (the Fund) which will have an eight-year life and a total capital commitment of $45 million.
Overstock.com will be a limited partner in the Fund while Pelion will act as general partner. The Fund will return invested capital to Overstock.com first and then split profits on successful exits as outlined in its Limited Partnership Agreement.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case.
Overstock.com has an Earnings ESP of +192.31% but a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering as per our model, as these have the right combination of elements to beat on earnings this reporting cycle:
Etsy (ETSY - Free Report) has an Earnings ESP of +1.19% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
CDW Corporation (CDW - Free Report) has an Earnings ESP of +0.51% and a Zacks Rank #2.
Citrix Systems has an Earnings ESP of +0.15% and a Zacks Rank #2.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>