2 Hot eCommerce Upgrades Moving Markets Now . Today we're looking at two eCommerce stocks that are well-positioned in their respective arenas and getting attention from analysts.

These Are 2 Underappreciated eCommerce Stocks

The August retail sales figures were remarkably strong versus the expectations and prove the resiliency of the US economy. Within that, eCommerce sales didn't grow quite as strong as they could have but that's only versus the analyst expectations. The 7.5% increase in year-over-year eCommerce sales is on top of strong gains made last year and another sign of its importance in today's retail environment. Today we're looking at two eCommerce stocks that are well-positioned in their respective arenas and getting attention from analysts.

Overstock.com, At The Nexus Of Two Trends

If one secular trend is enough to get us interested in a stock, then two secular trends get us really excited. Overstock.com (NASDAQ: OSTK) is one of those stocks as it represents a fabulous growth story within the eCommerce arena as well as one within the home furnishings arena. Both of those secular tailwinds were strong before the pandemic, both were boosted during the pandemic, and both tailwinds continue to blow strongly now.

Analyst Anna Andreeva at Needham just reiterated their Buy rating on the stock calling it one of the most mispriced names in the eCommerce segment. In her view, the market is too skeptical of the company's turnaround and that structural changes put in place two years ago are paying off. In addition, channel checks reveal strong demand trends in October and September that should support strong results. This is consistent with MarketBeat.com coverage of the furniture and home furnishing sector, a sector that has seen a sustained acceleration of revenue and earnings driven by record backlogs. Her price target for the stock is $150 which assumes more than 100% upside. This compares to the slightly less bullish consensus target of $109 which assumes a little more than 50% upside.

Shares of Overstock.com moved more than 2% higher in the wake of the data and look ready to reverse recent price weakness. There is still some resistance near the $72 level but, once that is overcome, we see price action moving up to the $80 and then to the $90 level. Overstock.com is slated to report earnings at the end of October, an event that could send price action up to the $100 level.

The Doordash Market Just Keeps Getting Bigger

A pillar of Doordash's (NYSE: DASH) growth strategy is expanding into verticals outside of food delivery. The company has been working hard in that area and is getting noticed by the analyst because of it. Bank of America just upped the stock to a buy from neutral citing its growing addressable market and the growing use of mobile. Analyst Michael McGovern says there is upside risk in the consensus estimates for both current year and long-term growth and we agree. In his view, the expanded offerings will help the company gain market share and drive catalysts such as new partnerships and international expansion.

Shares of Doordash are up more than 6% on the news and trading at the highest levels since the IPO. In our view, today's price action is an acceleration of a rally that began earlier this year and will lead to a continuation of that same rally. With price action breaking out to a new high, our target is now $320 or roughly 50% upside from the current price action.