In yesterday’s Wall Street session, Opendoor Technologies Inc (NASDAQ:OPEN) shares traded at $2.75, up 5.36% from the previous session.
As of this writing, 13 analysts cover Opendoor Technologies Inc (NASDAQ:OPEN). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $3.50 and a low of $1.00, we find $2.20. Given the previous closing price of $2.61, this indicates a potential downside of -15.71 percent. OPEN stock price is now 14.48% away from the 50-day moving average and 5.14% away from the 200-day moving average. The market capitalization of the company currently stands at $1.84B.
There are 7 analysts who have given it a hold rating, whereas 3 have given it a buy rating. Brokers who have rated the stock have averaged $2.29 as their price target over the next twelve months.
With the price target of $2.80, Deutsche Bank recently initiated with Hold rating for Opendoor Technologies Inc (NASDAQ: OPEN).
In other news, Wu Eric Chung-Wei, Director sold 70,201 shares of the company’s stock on Nov 15. The stock was sold for $172,919 at an average price of $2.46. Upon completion of the transaction, the Director now directly owns 19,009,219 shares in the company, valued at $52.28 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 10, Chief Legal Officer Schaub Sydney sold 20,078 shares of the business’s stock. A total of $41,196 was realized by selling the stock at an average price of $2.05. This leaves the insider owning 1,280,373 shares of the company worth $3.52 million. Insiders disposed of 15,821,814 shares of company stock worth roughly $43.51 million over the past 1 year. A total of 19.36% of the company’s stock is owned by insiders.
Monday morning saw Opendoor Technologies Inc (NASDAQ: OPEN) opened at $2.6500. 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 $2.4022 and a two-hundred day moving average price translates $2.6156 for the stock.
The latest earnings results from Opendoor Technologies Inc (NASDAQ: OPEN) was released for Sep, 2023. According to the Real Estate Services Company, earnings per share came in at -$0.11, beating analysts’ expectations of -$0.15 by 0.04. This compares to -$1.47 EPS in the same period last year. 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. For the current quarter, analysts expect OPEN to generate $918.26M 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.
