Shares of online furniture and home furnishings provider Overstock.com (NASDAQ:OSTK) are inching upward today after the company posted better-than-anticipated first-quarter numbers.
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While revenue declined 28.9% year-over-year to $381 million, the figure still came in ahead of estimates by $20 million. Net loss per share at $0.10 too came in narrower than estimates by $0.05. The company has been seeing a month-on-month sales improvement in the recent quarter alongside gains in home-only revenue.
During the quarter, Overstock delivered 1.7 million orders at an average order value of $220. This was a 29% year-over-year drop in order deliveries while the number of orders per active customer witnessed a 6% decline as compared to the year-ago period.
Despite subdued unit metrics, Overstock has faired well on the bottom line front in a challenging macroeconomic backdrop. Overall, the Street has a $35.30 consensus price target on Overstock, pointing to a mouth-watering 95.3% potential upside in the stock.
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