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NASDAQ:OPEN

Opendoor Technologies (OPEN) Stock Price, News & Analysis

Opendoor Technologies logo
$2.07 -0.11 (-5.05%)
(As of 04:00 PM ET)

About Opendoor Technologies Stock (NASDAQ:OPEN)

Key Stats

Today's Range
$2.02
$2.14
50-Day Range
$1.60
$2.34
52-Week Range
$1.52
$4.89
Volume
35.01 million shs
Average Volume
25.12 million shs
Market Capitalization
$1.48 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$2.84
Consensus Rating
Hold

Company Overview

Opendoor Technologies Inc. is a San Francisco-based company that aims to transform how people buy and sell homes. Founded in 2014, Opendoor provides an online platform allowing homeowners to sell their homes directly to the company without needing a traditional real estate agent. The company also offers home-buying and financing services to its customers.

Opendoor's mission is to simplify the real estate transaction process, making it easier and faster for homeowners to sell their homes and for buyers to find their dream homes. The company's platform streamlines the home-selling process by providing homeowners with an instant offer for their property, allowing them to sell their homes quickly and hassle-free. Opendoor offers a unique buying experience, providing customers with virtual tours of houses and a flexible closing process.

Opendoor's products and services are primarily targeted at homeowners looking to sell their homes quickly, homebuyers looking for a streamlined buying experience, and real estate investors looking for a hassle-free way to acquire properties. The company operates in several markets across the United States, including Atlanta, Austin, Charlotte, Dallas-Fort Worth, Houston, Las Vegas, Nashville, Orlando, Phoenix, Raleigh-Durham, and Tampa.

Opendoor has received several awards and recognitions for its innovative approach to the real estate industry. In 2020, the company was named to the Forbes' Next Billion-Dollar Startups list and was ranked #1 on the 2020 CNBC Disruptor 50 list.

In December 2022, Opendoor's Chief Executive Officer and co-founder, Eric Wu, stepped back amid uncertainty in the housing market and his mounting financial losses. Wu is a serial entrepreneur with extensive experience in the technology industry. Before founding Opendoor, Wu co-founded Movity.com, a real estate data company that was acquired by Trulia in 2010. Wu continues to work with OpenDoor assuming the role of President of the Marketplace. 

Internally the company's Chief Financial Officer, Carrie Wheeler, took over as CEO in December 2022. Before coming to OpenDoor, Carrie worked with TGP Global for over twenty years. TGP Global is a leading investment firm where Carrie was a partner serving on the boards of several large well-known brands. 

Opendoor went public through a merger with a special purpose acquisition company (SPAC) in December 2020. The company reported revenue of $15.57 billion in 2022, up from $8 billion in 2021. Gross profit is reported to increase yearly, but the company's net loss for the same period has increased by over 50%.

Opendoor operates in the real estate industry, known for its cyclical nature and sensitivity to economic conditions. The sector has experienced significant growth over the past few years, driven by low-interest rates, a strong economy, and a shortage of available housing. However, the industry faces significant challenges, such as rising construction costs, supply chain disruptions, labor shortages, and an uncertain economic lookout for the future.

Recently, the industry has seen new technology-driven players, such as Zillow and Redfin, disrupting traditional real estate brokerage models by offering online marketplaces for buying and selling homes. Opendoor is one of the most prominent companies, leveraging technology to streamline the home buying and selling process.

Opendoor has several growth opportunities that it could pursue to drive future revenue and earnings growth. One such opportunity is to expand its geographic footprint by entering new markets. The company operates in over 40 markets across the United States and plans to expand into additional markets in the coming years. This could help the company increase its revenue base and market share in new regions.

Opendoor faces several risks and challenges that could impact its future performance. One of the company's biggest risks is the cyclicality of the real estate industry. If economic conditions deteriorate, home demand could decline, negatively impacting the company's revenue and earnings.

Another significant risk facing Opendoor is increased competition. The company operates in a highly competitive industry and faces competition from both online real estate marketplaces and traditional real estate brokers. If Opendoor cannot maintain its competitive advantages, its market position could be threatened.

Opendoor also faces regulatory risks, particularly as it expands into new markets. The real estate industry is subject to a complex regulatory framework, and the company could face legal or regulatory challenges if it fails to comply with these regulations.

Opendoor is a relatively new company and has a limited operating history. As such, predicting how the company will perform over the long term is difficult, particularly in changing economic conditions or industry trends.

Opendoor Technologies Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
79th Percentile Overall Score

OPEN MarketRank™: 

Opendoor Technologies scored higher than 79% of companies evaluated by MarketBeat, and ranked 70th out of 324 stocks in the business services sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • Consensus Rating

    Opendoor Technologies has received a consensus rating of Hold. The company's average rating score is 2.20, and is based on 1 buy rating, 4 hold ratings, and no sell ratings.

  • Amount of Analyst Coverage

    Opendoor Technologies has received no research coverage in the past 90 days.

  • Read more about Opendoor Technologies' stock forecast and price target.
  • Earnings Growth

    Earnings for Opendoor Technologies are expected to grow in the coming year, from ($0.56) to ($0.36) per share.

  • Price to Earnings Ratio vs. the Market

    The P/E ratio of Opendoor Technologies is -3.83, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

  • Price to Earnings Ratio vs. Sector

    The P/E ratio of Opendoor Technologies is -3.83, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

  • Price to Book Value per Share Ratio

    Opendoor Technologies has a P/B Ratio of 1.45. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

  • Percentage of Shares Shorted

    10.07% of the outstanding shares of Opendoor Technologies have been sold short.
  • Short Interest Ratio / Days to Cover

    Opendoor Technologies has a short interest ratio ("days to cover") of 2, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Opendoor Technologies has recently decreased by 16.50%, indicating that investor sentiment is improving significantly.
  • Dividend Yield

    Opendoor Technologies does not currently pay a dividend.

  • Dividend Growth

    Opendoor Technologies does not have a long track record of dividend growth.

  • Percentage of Shares Shorted

    10.07% of the outstanding shares of Opendoor Technologies have been sold short.
  • Short Interest Ratio / Days to Cover

    Opendoor Technologies has a short interest ratio ("days to cover") of 2, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Opendoor Technologies has recently decreased by 16.50%, indicating that investor sentiment is improving significantly.
  • News Sentiment

    Opendoor Technologies has a news sentiment score of 0.40. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.66 average news sentiment score of Business Services companies.
  • News Coverage This Week

    MarketBeat has tracked 3 news articles for Opendoor Technologies this week, compared to 5 articles on an average week.
  • Search Interest

    Only 27 people have searched for OPEN on MarketBeat in the last 30 days. This is a decrease of -16% compared to the previous 30 days.
  • MarketBeat Follows

    Only 2 people have added Opendoor Technologies to their MarketBeat watchlist in the last 30 days. This is a decrease of -67% compared to the previous 30 days.
  • Insider Buying vs. Insider Selling

    In the past three months, Opendoor Technologies insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,623,543.00 in company stock.

  • Percentage Held by Insiders

    Only 3.63% of the stock of Opendoor Technologies is held by insiders.

  • Percentage Held by Institutions

    62.36% of the stock of Opendoor Technologies is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

  • Read more about Opendoor Technologies' insider trading history.
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OPEN Stock News Headlines

1 Growth Stock Down 93% to Buy Right Now
Two halves of the same soul…
What I’m about to tell you is a story that is so ironic and unexpected that it’s almost inconceivable. It’s the story of two men, who live 2,400 miles away from one another. One is in California. The other, Ohio. And now, for the first time, the lives of these two men have intersected on a single investment.
Why Opendoor Stock Popped Today
Opendoor: Beaten And Forgotten
See More Headlines

OPEN Stock Analysis - Frequently Asked Questions

Opendoor Technologies' stock was trading at $4.48 at the beginning of the year. Since then, OPEN stock has decreased by 53.8% and is now trading at $2.07.
View the best growth stocks for 2024 here
.

Opendoor Technologies Inc. (NASDAQ:OPEN) announced its quarterly earnings results on Thursday, November, 7th. The technology company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.05. The technology company earned $1.38 billion during the quarter, compared to analyst estimates of $1.26 billion. Opendoor Technologies had a negative trailing twelve-month return on equity of 45.67% and a negative net margin of 7.49%.

Opendoor Technologies subsidiaries include RedDoor, Pro.com, OS National, Open Listings, Digital Opendoor Insurance Services LLC, OD Arizona D LLC, OD Equity Owner D LLC, and more.

Opendoor Technologies' top institutional investors include Sylebra Capital LLC (2.96%), Geode Capital Management LLC (2.26%), State Street Corp (2.03%) and Charles Schwab Investment Management Inc. (1.37%). Insiders that own company stock include Eric Chung-Wei Wu, Carrie Wheeler, Megan D Meyer, Ah Kee Andrew Low, Daniel Morillo, Sydney Schaub and Christina Schwartz.
View institutional ownership trends
.

Shares of OPEN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Based on aggregate information from My MarketBeat watchlists, some other companies that Opendoor Technologies investors own include CRISPR Therapeutics (CRSP), Pure Storage (PSTG), Symbotic (SYM), JPMorgan Nasdaq Equity Premium Income ETF (JEPQ), Enovix (ENVX), COMPASS Pathways (CMPS) and Luminar Technologies (LAZR).

Company Calendar

Last Earnings
11/07/2024
Today
12/10/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Real estate agents & managers
Sub-Industry
Internet Software & Services
Current Symbol
NASDAQ:OPEN
CUSIP
68372A10
Fax
N/A
Employees
1,982
Year Founded
2014

Price Target and Rating

Average Stock Price Target
$2.84
High Stock Price Target
$3.50
Low Stock Price Target
$1.85
Potential Upside/Downside
+37.1%
Consensus Rating
Hold
Rating Score (0-4)
2.20
Research Coverage
5 Analysts

Profitability

Net Income
$-275,000,000.00
Pretax Margin
-7.47%

Debt

Sales & Book Value

Annual Sales
$6.95 billion
Book Value
$1.43 per share

Miscellaneous

Free Float
689,113,000
Market Cap
$1.48 billion
Optionable
Optionable
Beta
2.88

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This page (NASDAQ:OPEN) was last updated on 12/10/2024 by MarketBeat.com Staff
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