Overstock.com (OSTK) Shares Look Cheap Ahead of a Major Catalyst - Piper Sandler

Piper Sandler analyst Peter Keith reiterated an Overweight rating and $140.00 price target on Overstock.com (NASDAQ: OSTK) on the belief that the upcoming launch of tZero Crypto 2.0 should unlock to much higher Crypto trading activity and if NFTs are securitized, this could be a major opportunity for tZero as tZero is essentially the only platform where they would be traded currently. Combined, these two dynamics could cause significant upward re-valuation for tZero.

The analyst estimates estimate tZero is worth $500-750M and stated "with OSTK trading at <1.0x 2021E EV/S, we continue to believe shareholders are essentially receiving upside potential in tZero for free."

For an analyst ratings summary and ratings history on Overstock.com click here. For more ratings news on Overstock.com click here.

Shares of Overstock.com closed at $73.72 yesterday.

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