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Opendoor Technologies Inc. (NASDAQ: OPEN) Is Decrease -62.78%, So Here’s What We Can Expect On The Upswing

During the last session, Opendoor Technologies Inc. (NASDAQ:OPEN)’s traded shares were 17.47 million. At the end of the trading day, the stock’s price was $2.52, reflecting an intraday gain of 4.13% or $0.1. The 52-week high for the OPEN share is $8.08, that puts it down -220.63 from that peak though still a striking 63.49% gain since the share price plummeted to a 52-week low of $0.92. The company’s market capitalization is $1.64B, and the average intraday trading volume over the past 10 days was 21.78 million shares, and the average trade volume was 22.93 million shares over the past three months.

Opendoor Technologies Inc. (OPEN) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.80. OPEN has a Sell rating from 2 analyst(s) out of 12 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.39.

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Opendoor Technologies Inc. (NASDAQ:OPEN) trade information

Opendoor Technologies Inc. (OPEN) registered a 4.13% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.13% in intraday trading to $2.52 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 6.78%, and it has moved by 89.47% in 30 days. Based on these gigs, the overall price performance for the year is -62.78%. The short interest in Opendoor Technologies Inc. (NASDAQ:OPEN) is 62.35 million shares and it means that shorts have 3.43 day(s) to cover.

The consensus price target of analysts on Wall Street is $2.57, which implies an increase of 1.95% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.00 and $8.00 respectively. As a result, OPEN is trading at a discount of -217.46% off the target high and 60.32% off the low.

Opendoor Technologies Inc. (OPEN) estimates and forecasts

Statistics show that Opendoor Technologies Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Opendoor Technologies Inc. (OPEN) shares have gone up 49.11% during the last six months, with a year-to-date growth rate less than the industry average at -41.30% against 18.80. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -333.30% this quarter and then jump 85.70% in the quarter after that. In the rating firms’ projections, revenue will decrease -49.20% compared to the previous financial year.

Revenue for the current quarter is expected to be $1.83 billion as predicted by 10 analyst(s). Meanwhile, a consensus of 10 analyst(s) estimates revenue growth to $1.48 billion by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $4.2 billion and $2.94 billion respectively. In this case, analysts expect current quarter sales to shrink by -56.40% and then drop by -49.70% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -69.20%. While earnings are projected to return -93.10% in 2023, the next five years will return 5.20% per annum.

OPEN Dividends

Opendoor Technologies Inc. is due to release its next quarterly earnings on May 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Opendoor Technologies Inc. insiders own 17.22% of total outstanding shares while institutional holders control 68.81%, with the float percentage being 83.13%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 364 institutions own stock in it. As of Mar 30, 2023, the company held over 67.99 million shares (or 10.48% of all shares), a total value of $119.66 million in shares.

The next largest institutional holding, with 33.54 million shares, is of Sylebra Capital Ltd’s that is approximately 5.17% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $59.02 million.

Also, the Mutual Funds coming in first place with the largest holdings of Opendoor Technologies Inc. (OPEN) shares are Vanguard Specialized-Real Estate Index Fund and Vanguard Total Stock Market Index Fund. Data provided on Jan 30, 2023 indicates that Vanguard Specialized-Real Estate Index Fund owns about 18.2 million shares. This amounts to just over 2.83 percent of the company’s overall shares, with a $39.87 million market value. The same data shows that the other fund manager holds slightly less at 16.34 million, or about 2.54% of the stock, which is worth about $18.96 million.

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