Opendoor Technologies Inc (NASDAQ:OPEN): A Fundamentally Weighted Stock for Long-Term Investors

The stock of Opendoor Technologies Inc (NASDAQ:OPEN) last traded at $2.00, down -4.31% from the previous session.

Data from the available sources indicates that Opendoor Technologies Inc (NASDAQ:OPEN) is covered by 12 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $4.00 and a low of $1.00, we find $2.35. Given the previous closing price of $2.09, this indicates a potential upside of 12.44 percent. OPEN stock price is now -28.58% away from the 50-day moving average and -23.17% away from the 200-day moving average. The market capitalization of the company currently stands at $1.34B.

In total, 6 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $2.44 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, Meyer Megan D., President, Sell Direct & Svcs. sold 4,808 shares of the company’s stock on Oct 26. The stock was sold for $9,904 at an average price of $2.06. Upon completion of the transaction, the President, Sell Direct & Svcs. now directly owns 2,633,190 shares in the company, valued at $5.27 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 18, Schwartz Christina sold 3,562 shares of the business’s stock. A total of $8,071 was realized by selling the stock at an average price of $2.27. This leaves the insider owning 651,917 shares of the company worth $1.3 million. Insiders disposed of 20,389,355 shares of company stock worth roughly $40.78 million over the past 1 year. A total of 19.37% of the company’s stock is owned by insiders.

With an opening price of $2.1700 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 $2.8003 and a two-hundred day moving average price translates $2.6033 for the stock.

The latest earnings results from Opendoor Technologies Inc (NASDAQ: OPEN) was released for Sep, 2023. The net profit margin was -6.53% and return on equity was -46.49% for OPEN. The company reported revenue of $980.0 million for the quarter, compared to $3.36 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -70.84 percent.

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.

Related Posts