The stock of Opendoor Technologies Inc (NASDAQ:OPEN) last traded at $2.43, down -5.45% from the previous session.
Data from the available sources indicates that Opendoor Technologies Inc (NASDAQ:OPEN) is covered by 11 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $5.00 and a low of $1.00, we find $2.50. Given the previous closing price of $2.57, this indicates a potential downside of -2.72 percent. OPEN stock price is now -35.26% away from the 50-day moving average and -0.65% away from the 200-day moving average. The market capitalization of the company currently stands at $1.60B.
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In total, 4 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $2.76 as their price target over the next twelve months.
With the price target of $4.25, Morgan Stanley recently initiated with Equal-Weight rating for Opendoor Technologies Inc (NASDAQ: OPEN).
In other news, Schwartz Christina, insider sold 8,493 shares of the company’s stock on Sep 19. The stock was sold for $27,035 at an average price of $3.18. Upon completion of the transaction, the insider now directly owns 676,966 shares in the company, valued at $1.65 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 15, Chief Executive Officer WHEELER CARRIE sold 613,286 shares of the business’s stock. A total of $1,983,980 was realized by selling the stock at an average price of $3.23. This leaves the insider owning 17,341,832 shares of the company worth $42.14 million. Insiders disposed of 19,233,605 shares of company stock worth roughly $46.74 million over the past 1 year. A total of 19.45% 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 BROAD PEAK INVESTMENT HOLDINGS LTD. during the first quarter worth $13,631,000. MACQUARIE GROUP LTD invested $2,054,000 in shares of OPEN during the first quarter. In the first quarter, JACOBS LEVY EQUITY MANAGEMENT, INC acquired a new stake in Opendoor Technologies Inc valued at approximately $1,245,000. ETF MANAGERS GROUP, LLC acquired a new stake in OPEN for approximately $867,000. ALGERT GLOBAL LLC purchased a new stake in OPEN valued at around $815,000 in the second quarter. In total, there are 383 active investors with 60.87% ownership of the company’s stock.
With an opening price of $2.4500 on Monday morning, Opendoor Technologies Inc (NASDAQ: OPEN) set off the trading day. During the past 12 months, Opendoor Technologies Inc has had a low of $0.92 and a high of $5.41. The fifty day moving average price for OPEN is $3.7134 and a two-hundred day moving average price translates $2.4510 for the stock.
The latest earnings results from Opendoor Technologies Inc (NASDAQ: OPEN) was released for Jun, 2023. According to the Real Estate Services Company, earnings per share came in at -$0.3, beating analysts’ expectations of -$0.38 by 0.08. This compares to -$0.08 EPS in the same period last year. The net profit margin was -12.42% and return on equity was -81.64% for OPEN. The company reported revenue of $1.98 billion for the quarter, compared to $4.2 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -52.93 percent. For the current quarter, analysts expect OPEN to generate $1B in revenue.
