In the last trading session, 32.86 million shares of the Opendoor Technologies Inc (NASDAQ:OPEN) were traded, and its beta was 2.68. Most recently the company’s share price was $1.99, and it changed around $0.06 or 3.11% from the last close, which brings the market valuation of the company to $1.40B. OPEN currently trades at a discount to its 52-week high of $4.89, offering almost -145.73% off that amount. The share price’s 52-week low was $1.58, which indicates that the current value has risen by an impressive 20.6% since then. We note from Opendoor Technologies Inc’s average daily trading volume that its 10-day average is 32.24 million shares, with the 3-month average coming to 31.35 million.
Opendoor Technologies Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.92. If we narrow it down even further, the data shows that 2 out of 12 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 8 recommended OPEN as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Opendoor Technologies Inc is expected to report earnings per share of -0.14 for the current quarter.
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Opendoor Technologies Inc (NASDAQ:OPEN) trade information
Instantly OPEN has showed a green trend with a performance of 3.11% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 2.1100 on recent trading dayincreased the stock’s daily price by 5.69%. The company’s shares are currently down -55.58% year-to-date, but still down -3.86% over the last five days. We can see from the shorts that 89.58 million shares have been sold at a short interest cover period of 2.67 day(s).
The consensus price target as assigned by Wall Street analysts is $5.75, which translates to bulls needing to increase their stock price by 65.39% 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 fallen -26.30 percent over the past six months and at a 63.03% annual growth rate that is well above the industry average of 18.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -27.30% in revenue this quarter, and will report an increase of 7.10% in the next quarter. The year-over-year growth rate is expected to be -25.70%, down from the previous year.
Consensus estimates provided by 11 financial analysts predict the company will bring in an average of 1.27B in revenue for the current quarter. 11 analysts expect Opendoor Technologies Inc to make 1.2B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 980M and 870M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 29.30%. Forecasts for the next quarter put sales growth at 37.90%.
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 -59.39% in 2024, but the outlook is positive 14.91% per year for the next five years.
OPEN Dividends
Opendoor Technologies Inc’s next quarterly earnings report is expected to be released in November.
Opendoor Technologies Inc (NASDAQ:OPEN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 10.39% of Opendoor Technologies Inc shares, and 59.23% of them are in the hands of institutional investors. The stock currently has a share float of 66.10%. Opendoor Technologies Inc stock is held by 386.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 12.9438% of the shares, which is about 88.34 million shares worth $162.54 million.
BLACKROCK INC., with 7.8073% or 53.28 million shares worth $98.04 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
