Overstock.com price target lowered to $29 from $34 at Piper Sandler

Piper Sandler analyst Peter Keith lowered the firm’s price target on Overstock.com to $29 from $34 and keeps an Overweight rating on the shares. The analyst reduced 2023 sales estimate after the company’s Q4 came in below expectations. Similar weakness of sales down 30% is expected to continue into Q1 as Overstock.com continues to lose share, the analyst tells investors in a research note.