Overstock Reported an Earnings Beat and Zendesk Announced an Acquisition
Overstock is an online retailer located in Salt Lake City, Utah. They offer things like home improvement products through their online website, and they have a market cap of $4 billion, a lot coming from their crazy COVID recovery.
On Thursday, Overstock reported their third quarter earnings. Earnings per share sat at 63 cents, which rocked analyst expectations of 47 cents, and sales did dip from last year, but that’s because online retail was at its peak back then. One important data piece was their active customer count, which increased by 5%, showing that consumers are still sticking to the company. As a result, Overstock rose to $93.00, up 20.53%.
Zendesk is a technology company that works in the software industry, being a software-as-a-service (SaaS) business globally. The San Francisco-based company has a market cap of $14.284 billion, making it a large-cap.
Zendesk announced their third quarter earnings on Thursday, and it wasn’t the greatest. Earnings per share met expectations with 17 cents per share, and sales of $347 million matched the analyst expectations too. They also announced the acquisition of Momentive Global, a move that was pressured by activist investors, which hampered the earnings as investors weren’t too confident in the deal. This confidence was shown in their stock price as it fell 15.98% after hours to $99.99.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.