Shares of Overstock.com (NASDAQ:OSTK) fell today after it reported earnings for its fourth quarter of Fiscal Year 2022. Adjusted earnings per share came in at -$0.04, which missed analysts’ consensus estimate of $0.02 per share. Sales decreased by 33.9% year-over-year, with revenue hitting $404.89 million. This was more than $43 million below expectations.
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However, net revenue per active customer increased by 9% for the last 12 months when compared to the previous year. In addition, the average order value jumped to $215, equating to a 4% increase. Nevertheless, it was order volume that hit the company hard, as it delivered 1.9 million orders. This was 37% lower than the prior year.
Overall, Wall Street analysts have a consensus price target of $28.80 on OSTK stock, implying 44.22% upside potential, as indicated by the graphic above.
