Stocks of Opendoor Technologies Inc. (NASDAQ:OPEN) traded higher last session on Wall Street, up 2.54% to $2.42.
According to the data, Opendoor Technologies Inc. (NASDAQ:OPEN) has 12 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $8.00 and a low of $1.00, we find $1.75. Given the previous closing price of $2.36, this indicates a potential downside of -25.85 percent. OPEN stock price is now 46.94% away from the 50-day moving average and 0.91% away from the 200-day moving average. The market capitalization of the company currently stands at $1.69B.
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A total of 5 analysts have issued a hold rating and 4 have given it a buy rating. Brokers who have rated the stock have averaged $2.42 as their price target over the next twelve months.
With the price target reduced from $3.50 to $1.70, Wedbush Downgraded its rating from Outperform to Neutral for Opendoor Technologies Inc. (NASDAQ: OPEN)., while ‘Oppenheimer’ rates the stock as ‘Perform’.
In other news, Wu Eric Chung-Wei, Director sold 49,082 shares of the company’s stock on May 15. The stock was sold for $95,303 at an average price of $1.94. Upon completion of the transaction, the Director now directly owns 30,630,676 shares in the company, valued at $74.13 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 18, See Remarks Schwartz Christina sold 3,456 shares of the business’s stock. A total of $5,729 was realized by selling the stock at an average price of $1.66. This leaves the insider owning 753,771 shares of the company worth $1.82 million. Insiders disposed of 8,675,912 shares of company stock worth roughly $21.0 million over the past 1 year. A total of 6.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OPEN stock. A new stake in Opendoor Technologies Inc. shares was purchased by SCHRODER INVESTMENT MANAGEMENT GROUP during the first quarter worth $9,625,000. HRT FINANCIAL LP invested $3,736,000 in shares of OPEN during the first quarter. In the first quarter, LONG POND CAPITAL, LP acquired a new stake in Opendoor Technologies Inc. valued at approximately $2,783,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND acquired a new stake in OPEN for approximately $2,653,000. DIMENSIONAL FUND ADVISORS LP purchased a new stake in OPEN valued at around $2,181,000 in the second quarter. In total, there are 364 active investors with 69.00% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $2.4700 for Opendoor Technologies Inc. (NASDAQ: OPEN). During the past 12 months, Opendoor Technologies Inc. has had a low of $0.92 and a high of $8.08. As of last week, the company has a debt-to-equity ratio of 3.82, a current ratio of 11.20, and a quick ratio of 6.40. The fifty day moving average price for OPEN is $1.6641 and a two-hundred day moving average price translates $2.3859 for the stock.
The latest earnings results from Opendoor Technologies Inc. (NASDAQ: OPEN) was released for Mar, 2023. According to the Real Estate Services Company, earnings per share came in at -$0.64, beating analysts’ expectations of -$0.66 by 0.02. This compares to $0.04 EPS in the same period last year. The net profit margin was -10.90% and return on equity was -99.40% for OPEN. The company reported revenue of $3.12 billion for the quarter, compared to $5.15 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -39.43 percent. For the current quarter, analysts expect OPEN to generate $1.83B in revenue.
Opendoor Technologies Inc.(OPEN) Company Profile
Opendoor Technologies Inc. operates an e-commerce platform for residential real estate transactions in the United States. It buys and sells homes. The company’s product offerings comprise 1P Product that enables homeowners to sell their home directly to it and resell the home to a home buyer; and 3P Product that connects the home seller with an institutional or retail buyer. It also provides real estate brokerage, title insurance and settlement, and escrow services, as well as property and casualty insurance, and construction services. Opendoor Technologies Inc. was incorporated in 2013 and is based in Tempe, Arizona.
