In the latest trading session, 2.03 million Opendoor Technologies Inc. (NASDAQ:OPEN) shares changed hands as the company’s beta touched 2.20. With the company’s most recent per share price at $3.24 changing hands around $0.02 or 0.78% at last look, the market valuation stands at $2.24B. OPEN’s current price is a discount, trading about -66.98% off its 52-week high of $5.41. The share price had its 52-week low at $0.92, which suggests the last value was 71.6% up since then. When we look at Opendoor Technologies Inc.’s average trading volume, we note the 10-day average is 15.24 million shares, with the 3-month average coming to 22.20 million.
Analysts gave the Opendoor Technologies Inc. (OPEN) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.00. If we narrow down to specifics, the data shows that 3 out of 12 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended OPEN as a Hold, 4 felt it is a Buy and 1 rated the stock as Underweight. Opendoor Technologies Inc.’s EPS for the current quarter is expected to be -$0.16.
Opendoor Technologies Inc. (NASDAQ:OPEN) trade information
Instantly OPEN is in green as seen in intraday trades today. With action -12.06%, the performance over the past five days has been red. The jump to weekly highs of 3.78 on Friday, 09/15/23 added 0.78% to the stock’s daily price. The company’s shares are showing year-to-date upside of 179.74%, with the 5-day performance at -12.06% in the red. However, in the 30-day time frame, Opendoor Technologies Inc. (NASDAQ:OPEN) is -0.46% down. Looking at the short shares, we see there were 66.23 million shares sold at short interest cover period of 3.5 days.
The consensus price target for the stock as assigned by Wall Street analysts is $3.31, meaning bulls need an upside of 2.11% from its recent market value. According to analyst projections, OPEN’s forecast low is $1.00 with $7.00 as the target high. To hit the forecast high, the stock’s price needs a -116.05% plunge from its current level, while the stock would need to tank 69.14% for it to hit the projected low.
Opendoor Technologies Inc. (OPEN) estimates and forecasts
Data shows that the Opendoor Technologies Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 101.55% over the past 6 months, a -32.61% in annual growth rate that is considerably lower than the industry average of 17.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Opendoor Technologies Inc. will rise 89.10%, while the growth in revenue is estimated to hit 79.40% for the next quarter. Year-over-year growth is forecast to reach -53.70% down from the last financial year.
Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $999.66 million. 9 analysts are of the opinion that Opendoor Technologies Inc.’s revenue for the quarter ending Dec 2023 will be $1.15 billion. The company’s revenue for the corresponding quarters a year ago was $2.94 billion and $2.86 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -66.00%. The estimates for the next quarter sales put growth at -59.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -69.20%. The 2023 estimates are for Opendoor Technologies Inc. earnings to decrease by -93.10%, but the outlook for the next 5-year period is at 5.20% per year.
Opendoor Technologies Inc. is expected to release its next quarterly earnings report between November 01 and November 06.
Opendoor Technologies Inc. (NASDAQ:OPEN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 13.24% of Opendoor Technologies Inc. shares while 60.90% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 70.19%. There are 60.90% institutions holding the Opendoor Technologies Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 11.30% of the shares, roughly 74.48 million OPEN shares worth $299.42 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.46% or 49.19 million shares worth $197.75 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Apr 29, 2023 were Vanguard Specialized-Real Estate Index Fund and Vanguard Total Stock Market Index Fund. With 18.08 million shares estimated at $24.95 million under it, the former controlled 2.74% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.48% of the shares, roughly 16.34 million shares worth around $65.68 million.