Online home goods retailer Overstock (NASDAQ: OSTK) will be announcing earnings results tomorrow before market open. Here's what you need to know.
Last quarter Overstock reported revenues of $381.1 million, down 28.9% year on year, beating analyst revenue expectations by 6.6%. It was a weak quarter for the company, with a decline in its user base and slow revenue growth. The company reported 4.8 million active buyers, down 35.1% year on year.
Is Overstock buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Overstock's revenue to decline 22.4% year on year to $409.7 million, an improvement on the 33.5% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.09 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates five times over the last two years.
Looking at Overstock's peers in the consumer internet segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. Teladoc delivered top-line growth of 10.1% year on year, beating analyst estimates by 0.5% and Netflix reported revenues up 2.72% year on year, missing analyst estimates by 1.24%. Netflix was down 2.97%, and Teladoc was up 7.59%. Read our full analysis of Teladoc's results here and Netflix's results here.
There has been positive sentiment among investors in the consumer internet segment, with the stocks up on average 9.19% over the last month. Overstock is up 27.8% during the same time, and is heading into the earnings with analyst price target of $38.7, compared to share price of $30.76.
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The author has no position in any of the stocks mentioned.