Overstock.com price target lowered to $91 from $98 at DA Davidson

DA Davidson analyst Tom Forte lowered the firm’s price target on Overstock.com to $91 from $98 after its Q4 earnings miss but keeps a Buy rating on the shares. The company’s home-ecommerce trends remain challenged as revenue in the segment declined 34% compared to a 33% decrease in the September quarter, and the management suggested it was on track for another quarter of more than a 30% decline in revenue, the analyst tells investors in a research note. The firm adds however that Overstock has catalysts for the next 12 months, which include a rebound in e-commerce sales and an exit in one of more of its investments in blockchain technology.