Opendoor Technologies Inc. (OPEN) Gains As Market Dips: What You Should Know
Opendoor Technologies Inc. (OPEN) closed at $2.64 in the latest trading session, marking a +1.15% move from the prior day. This move outpaced the S&P 500's daily loss of 0.27%. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq added 0.14%.
Coming into today, shares of the company had lost 33.08% in the past month. In that same time, the Business Services sector lost 3.36%, while the S&P 500 lost 2.86%.
Opendoor Technologies Inc. will be looking to display strength as it nears its next earnings release. On that day, Opendoor Technologies Inc. is projected to report earnings of -$0.17 per share, which would represent year-over-year growth of 67.31%. Meanwhile, our latest consensus estimate is calling for revenue of $985.97 million, down 70.66% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.22 per share and revenue of $7.23 billion, which would represent changes of -32.61% and -53.58%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Opendoor Technologies Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Opendoor Technologies Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Opendoor Technologies Inc. (OPEN) : Free Stock Analysis Report
