Opendoor Technologies Inc. (OPEN) Registers a Bigger Fall Than the Market: Important Facts to Note
The most recent trading session ended with Opendoor Technologies Inc. (OPEN) standing at $3.35, reflecting a -0.89% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a loss of 0.07% for the day. Meanwhile, the Dow experienced a rise of 0.16%, and the technology-dominated Nasdaq saw a decrease of 0.36%.
The company's shares have seen a decrease of 27.62% over the last month, not keeping up with the Business Services sector's gain of 1.03% and the S&P 500's gain of 3.05%.
The investment community will be closely monitoring the performance of Opendoor Technologies Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on February 15, 2024. The company is forecasted to report an EPS of -$0.18, showcasing a 75.68% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $831.24 million, reflecting a 70.91% fall from the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Opendoor Technologies Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Opendoor Technologies Inc. boasts a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Opendoor Technologies Inc. (OPEN) : Free Stock Analysis Report
