Opendoor Technologies Inc. (OPEN) Exceeds Market Returns: Some Facts to Consider
Opendoor Technologies Inc. (OPEN) closed the most recent trading day at $2.69, moving +0.75% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.43%. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.71%.
Prior to today's trading, shares of the company had lost 27.64% over the past month. This has lagged the Business Services sector's loss of 2.36% and the S&P 500's loss of 2.1% in that time.
The investment community will be paying close attention to the earnings performance of Opendoor Technologies Inc. in its upcoming release. The company is slated to reveal its earnings on November 2, 2023. The company's upcoming EPS is projected at -$0.17, signifying a 67.31% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $985.97 million, down 70.66% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$1.22 per share and a revenue of $7.23 billion, demonstrating changes of -32.61% and -53.58%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Opendoor Technologies Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Opendoor Technologies Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 83, positioning it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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Opendoor Technologies Inc. (OPEN) : Free Stock Analysis Report
