Opendoor Technologies Inc (NASDAQ: OPEN): Historical Performance And Trend

In the last trading session, 13.27 million shares of the Opendoor Technologies Inc (NASDAQ:OPEN) were traded, and its beta was 2.65. Most recently the company’s share price was $2.78, and it changed around -$0.13 or -4.47% from the last close, which brings the market valuation of the company to $1.89B. OPEN currently trades at a discount to its 52-week high of $5.41, offering almost -94.6% off that amount. The share price’s 52-week low was $1.25, which indicates that the current value has risen by an impressive 55.04% since then. We note from Opendoor Technologies Inc’s average daily trading volume that its 10-day average is 16.87 million shares, with the 3-month average coming to 20.13 million.

Opendoor Technologies Inc (NASDAQ:OPEN) trade information

Instantly OPEN has showed a red trend with a performance of -4.47% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -37.95% year-to-date, but still down -5.76% over the last five days. On the other hand, Opendoor Technologies Inc (NASDAQ:OPEN) is -10.61% down in the 30-day period. We can see from the shorts that 77.12 million shares have been sold at a short interest cover period of 3.69 day(s).

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The consensus price target as assigned by Wall Street analysts is $5.63, which translates to bulls needing to increase their stock price by 50.62% from its current value. Analyst projections state that OPEN is forecast to be at a low of $2 and a high of $9.

Opendoor Technologies Inc (OPEN) estimates and forecasts

Opendoor Technologies Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 5.30 percent over the past six months and at a 50.42% annual growth rate that is well above the industry average of 17.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 75.00% in revenue this quarter, and will report an increase of 56.70% in the next quarter. The year-over-year growth rate is expected to be -16.10%, down from the previous year.

Consensus estimates provided by 11 financial analysts predict the company will bring in an average of $1.09 billion in revenue for the current quarter. 11 analysts expect Opendoor Technologies Inc to make $1.5 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $3.12 billion and $1.98 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -65.20%. Forecasts for the next quarter put sales growth at -24.30%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 44.03%. Opendoor Technologies Inc earnings are expected to increase by -75.55% in 2024, but the outlook is positive 5.20% per year for the next five years.

OPEN Dividends

Opendoor Technologies Inc’s next quarterly earnings report is expected to be released around May 02 and May 06.

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

Upon looking at major shareholders, it appears that insiders hold 11.00% of Opendoor Technologies Inc shares, and 61.05% of them are in the hands of institutional investors. The stock currently has a share float of 68.60%. Opendoor Technologies Inc stock is held by 397 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 11.30% of the shares, which is about 74.48 million shares worth $299.42 million.

Blackrock Inc., with 7.46% or 49.19 million shares worth $197.75 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Specialized-Real Estate Index Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jul 30, 2023. The former held 21.67 million shares worth $110.73 million, making up 3.29% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 16.34 million shares worth around $65.68 million, which represents about 2.48% of the total shares outstanding.