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What's in the Cards for Opendoor Technologies' (OPEN) Q4 Earnings?

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Opendoor Technologies Inc. (OPEN - Free Report) is slated to release fourth-quarter and full-year 2020 earnings on Mar 4, after the closing bell.

Based in San Francisco, CA, Opendoor Technologies Inc. provides a digital platform for residential real estates. The company develops service models for real estate buying and selling on mobile devices.

Notably, in December 2020, Opendoor Labs Inc., the online homes marketplace and pioneer in iBuying, and Social Capital Hedosophia Holdings Corp. II, a publicly-traded special purpose acquisition company, completed their transaction to make Opendoor public.

Opendoor presently operates in a growing number of cities and neighborhoods across the country. The company is focused on capitalizing on the shift in consumer preference for online buying and selling of homes, which has gathered a higher momentum amid the pandemic.

In the fourth quarter, the company is likely to have benefited from a strong housing market. It is expected to have gained from a higher number of homes sold. Also, appreciation in home prices is likely to have aided the company’s performance in the quarter to be reported.

Moreover, this February, the company reported preliminary results for the year ended Dec 31, 2020. Opendoor expects to report revenues of $2,578-$2,583 million for the year ended Dec 31, 2020. Management projected adjusted EBITDA for the year at -$103 million to -$98 million. Further, it estimated an adjusted EBITDA margin of -4.0% to -3.8% for the year.

The Zacks Consensus Estimate for the quarterly revenues is pegged at $220.09 million. The company is estimated to report a loss per share of 15 cents for the quarter in review.

For full-year 2020, the consensus mark for revenues is currently pinned at $2.55 billion. The Zacks Consensus Estimate for the loss per share is projected at $1.30.

Here is what our quantitative model predicts:

Our proven model predicts an earnings surprise for Opendoor Technologies this season. The combination of a positive Earnings ESP, and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Opendoor Technologies currently carries a Zacks Rank of 3 and has an Earnings ESP of +31.03%.

Other Stocks to Consider

Here are a few other stocks in the broader real estate sector that you may want to consider:

CBRE Group’s (CBRE - Free Report) Zacks Consensus Estimate for 2021 earnings per share per share has moved up 13.5% to $3.70 over the past week. The company currently carries a Zacks Rank of 2.You can see the complete list of today’s Zacks #1 Rank stocks here.

Colliers International Group’s (CIGI - Free Report) earnings per share estimate for the current year has been revised upward by 4.7% to $5.11 over the past month. The company carries a Zacks Rank of 2, currently.

FirstService Corporation’s (FSV - Free Report) Zacks Consensus Estimate for the ongoing-year earnings per share has moved marginally north to $3.71 in a month’s time. The company holds a Zacks Rank of 2, at present.

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