Opendoor Technologies Inc. (OPEN) Stock Declines While Market Improves: Some Information for Investors
Opendoor Technologies Inc. (OPEN) closed the most recent trading day at $3.68, moving -0.54% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.57%. At the same time, the Dow added 0.46%, and the tech-heavy Nasdaq gained 0.75%.
Heading into today, shares of the company had gained 7.56% over the past month, outpacing the Business Services sector's gain of 2.21% and the S&P 500's gain of 3.4% in that time.
Investors will be eagerly watching for the performance of Opendoor Technologies Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 15, 2024. In that report, analysts expect Opendoor Technologies Inc. to post earnings of -$0.18 per share. This would mark year-over-year growth of 75.68%. Our most recent consensus estimate is calling for quarterly revenue of $831.24 million, down 70.91% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Opendoor Technologies Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Opendoor Technologies Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow OPEN in the coming trading sessions, be sure to utilize Zacks.com.
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Opendoor Technologies Inc. (OPEN) : Free Stock Analysis Report
