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Opendoor Technologies Inc. (OPEN) Short-Term Forecasts And Estimates

Opendoor Technologies Inc. (NASDAQ:OPEN) has seen 25.19 million shares traded in the last trading session. The company, currently valued at $1.03B, closed the last trade at $1.74 per share which meant it gained $0.14 on the day or 8.75% during that session. The OPEN stock price is -554.6% off its 52-week high price of $11.39 and 47.13% above the 52-week low of $0.92. If we look at the company’s 10-day average daily trading volume, we find that it stood at 25.43 million shares traded. The 3-month trading volume is 25.93 million shares.

The consensus among analysts is that Opendoor Technologies Inc. (OPEN) is an Overweight stock at the moment, with a recommendation rating of 2.40. 2 analysts rate the stock as a Sell, while 0 rate it as Overweight. 3 out of 14 have rated it as a Hold, with 8 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.52.

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Opendoor Technologies Inc. (NASDAQ:OPEN) trade information

Sporting 8.75% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the OPEN stock price touched $1.74 or saw a rise of 7.69%. Year-to-date, Opendoor Technologies Inc. shares have moved 50.00%, while the 5-day performance has seen it change 4.82%. Over the past 30 days, the shares of Opendoor Technologies Inc. (NASDAQ:OPEN) have changed 38.10%. Short interest in the company has seen 79.82 million shares shorted with days to cover at 3.9.

Wall Street analysts have a consensus price target for the stock at $4.32, which means that the shares’ value could jump 59.72% from current levels. The projected low price target is $1.00 while the price target rests at a high of $13.00. In that case, then, we find that the current price level is -647.13% off the targeted high while a plunge would see the stock lose 42.53% from current levels.

Opendoor Technologies Inc. (OPEN) estimates and forecasts

Figures show that Opendoor Technologies Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -66.34% over the past 6 months, with this year growth rate of -330.00%, compared to 12.90% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -477.80% and -58.60% for the next quarter. Revenue growth from the last financial year stood is estimated to be 82.50%.

12 analysts offering their estimates for the company have set an average revenue estimate of $2.6 billion for the current quarter. 12 have an estimated revenue figure of $2.69 billion for the next quarter concluding in Dec 2022.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -67.40% over the past 5 years. Earnings growth for 2023 is a modest -138.80% while over the next 5 years, the company’s earnings are expected to increase by 5.20%.

OPEN Dividends

Opendoor Technologies Inc. is expected to release its next earnings report between February 22 and February 27 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Opendoor Technologies Inc. (NASDAQ:OPEN)’s Major holders

Insiders own 15.42% of the company shares, while shares held by institutions stand at 72.82% with a share float percentage of 86.10%. Investors are also buoyed by the number of investors in a company, with Opendoor Technologies Inc. having a total of 412 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 61.26 million shares worth more than $288.54 million. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 9.74% of shares outstanding.

The other major institutional holder is Price (T.Rowe) Associates Inc, with the holding of over 52.49 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $247.24 million and represent 8.35% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Specialized-Real Estate Index Fund and Price (T.Rowe) Blue Chip Growth Fund Inc. As of Jul 30, 2022, the former fund manager holds about 2.96% shares in the company for having 18.59 million shares of worth $91.26 million while later fund manager owns 14.08 million shares of worth $66.32 million as of Jun 29, 2022, which makes it owner of about 2.24% of company’s outstanding stock.

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