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Opendoor Technologies Inc. (OPEN) Gains But Lags Market: What You Should Know
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Opendoor Technologies Inc. (OPEN - Free Report) closed at $2.48 in the latest trading session, marking a +1.43% move from the prior day. This move lagged the S&P 500's daily gain of 2.65%. Meanwhile, the Dow gained 1.86%, and the Nasdaq, a tech-heavy index, added 0.24%.
Heading into today, shares of the company had lost 39.78% over the past month, lagging the Business Services sector's loss of 14.11% and the S&P 500's loss of 8.99% in that time.
Opendoor Technologies Inc. will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. On that day, Opendoor Technologies Inc. is projected to report earnings of -$0.37 per share, which would represent a year-over-year decline of 1750%. Meanwhile, our latest consensus estimate is calling for revenue of $2.43 billion, up 7.43% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.24 per share and revenue of $14.26 billion. These totals would mark changes of -20% and +77.79%, respectively, from last year.
Any recent changes to analyst estimates for Opendoor Technologies Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.55% lower within the past month. Opendoor Technologies Inc. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Opendoor Technologies Inc. (OPEN) Gains But Lags Market: What You Should Know
Opendoor Technologies Inc. (OPEN - Free Report) closed at $2.48 in the latest trading session, marking a +1.43% move from the prior day. This move lagged the S&P 500's daily gain of 2.65%. Meanwhile, the Dow gained 1.86%, and the Nasdaq, a tech-heavy index, added 0.24%.
Heading into today, shares of the company had lost 39.78% over the past month, lagging the Business Services sector's loss of 14.11% and the S&P 500's loss of 8.99% in that time.
Opendoor Technologies Inc. will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. On that day, Opendoor Technologies Inc. is projected to report earnings of -$0.37 per share, which would represent a year-over-year decline of 1750%. Meanwhile, our latest consensus estimate is calling for revenue of $2.43 billion, up 7.43% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.24 per share and revenue of $14.26 billion. These totals would mark changes of -20% and +77.79%, respectively, from last year.
Any recent changes to analyst estimates for Opendoor Technologies Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.55% lower within the past month. Opendoor Technologies Inc. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.