Streetbeat News

OPEN

Opendoor Technologies Inc.

https://www.opendoor.com

Industry

Real Estate - Services

Opendoor Technologies Inc. operates a digital platform for residential real estate in the United States. The company's platform enables consumers to buy and sell a home online. It also provides title insurance and escrow services. Opendoor Technologies Inc. was incorporated in 2013 and is based in Tempe, Arizona.

Open

1.76

Mkt cap

1.2B

Volume

32M

High

1.77

P/E Ratio

-3.07

52-wk high

4.89

Low

1.65

Div yield

N/A

52-wk low

1.58

Opendoor Technologies shares are trading lower following the company's Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 9:16 pm

Opendoor Technologies (NASDAQ:OPEN) reported Q2 2024 adjusted EPS of $(0.04), beating the $(0.11) estimate, and sales of $1.511 billion, surpassing the $1.468 billion estimate. Despite the positive earnings surprise, sales decreased by 23.53% year-over-year.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 8:52 pm

The upcoming week is crucial for tech stocks as major companies like Apple, Amazon, Microsoft, and Meta are set to report their earnings. Last week's earnings were mixed, with Tesla, Alphabet, and STMicroelectronics disappointing investors. However, IBM saw positive reactions due to strong AI bookings. Analysts are optimistic about the tech sector's future, especially with significant AI investments expected. The Invesco QQQ Trust and SPDR S&P 500 ETF Trust showed mixed performance last week.

Portfolio Pulse from Shanthi Rexaline

July 29, 2024 | 10:25 am

Mortgage rates have hit their lowest point since February 2024, driven by investor expectations of upcoming Fed rate cuts. Despite this, mortgage demand remains inconsistent, with a recent decline in mortgage applications. The Vanguard Real Estate ETF (VNQ) remained flat, while the SPDR Homebuilders ETF (XHB) fell 0.5% and the VanEck Mortgage REIT Income ETF (MORT) rose 0.5%. Several real estate stocks, including Gladstone Land Corporation (LAND) and Compass, Inc. (COMP), saw significant declines in premarket trading.

Portfolio Pulse from Piero Cingari

July 24, 2024 | 12:57 pm

US home sales experienced a significant decline of 5.4% in June 2024, the sharpest monthly drop in 1.5 years, due to record high prices. The median home price reached an all-time high of $426,900. Real estate stocks showed mixed reactions, with some gaining and others declining.

Portfolio Pulse from Piero Cingari

July 23, 2024 | 2:46 pm

Shares of Match Group (NASDAQ:MTCH) rose sharply in pre-market trading due to Starboard Value's 6.5% stake and potential advocacy for a sale. Other notable pre-market movers include Conduit Pharmaceuticals (NASDAQ:CDT), Meiwu Technology (NASDAQ:WNW), and AEON Biopharma (NYSE:AEON).

Portfolio Pulse from Avi Kapoor

July 16, 2024 | 9:51 am

A cooler-than-expected U.S. inflation report has led to a rally in small caps, real estate, and regional banks, with traders anticipating potential Fed rate cuts. The iShares Russell 2000 ETF (IWM) saw a significant rise, along with sector-specific ETFs like VNQ, XLB, XHB, TAN, KRE, and XBI. Top-performing stocks included Sunrun Inc. (RUN), Array Technologies Inc. (ARRY), and Opendoor Technologies Inc. (OPEN).

Portfolio Pulse from Piero Cingari

June 12, 2024 | 2:09 pm

Opendoor Technologies (NYSE:OPEN) has seen a 7.77% increase in its short percent of float, now at 13.17%. This is significantly higher than its peers' average of 5.48%. The company has 76.52 million shares sold short, which would take traders 3.26 days to cover. This rise in short interest could indicate bearish sentiment among investors.

Portfolio Pulse from Benzinga Insights

June 06, 2024 | 2:00 pm

Opendoor Technologies (NASDAQ: OPEN) has been the subject of mixed analyst reviews over the past three months, with a shift towards a more cautious outlook recently. The average 12-month price target for OPEN has been adjusted downward to $3.94, reflecting a 5.52% decrease from the previous target of $4.17. Analysts from UBS and JMP Securities have adjusted their ratings and price targets, indicating a nuanced view of the company's financial health and market performance. Despite a significant revenue decline of -62.15% as of March 31, 2024, Opendoor Technologies maintains strong profitability indicators such as net margin and ROE, but faces challenges with a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

May 14, 2024 | 4:01 pm

UBS analyst Lloyd Walmsley maintains a Neutral rating on Opendoor Technologies (OPEN) and lowers the price target from $3 to $2.75.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 3:14 pm

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