Stocks of Opendoor Technologies Inc (NASDAQ:OPEN) traded higher last session on Wall Street, down -2.29% to $2.13.
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 $5.00 and a low of $1.00, we find $2.48. Given the previous closing price of $2.18, this indicates a potential upside of 13.76 percent. OPEN stock price is now -30.06% away from the 50-day moving average and -17.13% away from the 200-day moving average. The market capitalization of the company currently stands at $1.40B.
A total of 6 analysts have issued a hold rating and 3 have given it a buy rating. Brokers who have rated the stock have averaged $2.74 as their price target over the next twelve months.
With the price target of $2.75, UBS recently initiated with Neutral rating for Opendoor Technologies Inc (NASDAQ: OPEN).
In other news, Schwartz Christina, insider sold 3,562 shares of the company’s stock on Oct 18. The stock was sold for $8,071 at an average price of $2.27. Upon completion of the transaction, the insider now directly owns 651,917 shares in the company, valued at $1.39 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 16, President, Sell Direct & Svcs. Meyer Megan D. sold 27,471 shares of the business’s stock. A total of $65,532 was realized by selling the stock at an average price of $2.39. This leaves the insider owning 2,637,998 shares of the company worth $5.62 million. Insiders disposed of 20,389,355 shares of company stock worth roughly $43.43 million over the past 1 year. A total of 19.37% 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 $11,948,000. MACQUARIE GROUP LTD invested $1,800,000 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 $1,092,000. ETF MANAGERS GROUP, LLC acquired a new stake in OPEN for approximately $760,000. ALGERT GLOBAL LLC purchased a new stake in OPEN valued at around $714,000 in the second quarter. In total, there are 383 active investors with 60.69% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $2.1000 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 $5.41. The fifty day moving average price for OPEN is $3.0453 and a two-hundred day moving average price translates $2.5703 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 $1.02B 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.
