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What Awaits Opendoor Technologies (OPEN) in Q1 Earnings?
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Opendoor Technologies Inc. (OPEN - Free Report) is scheduled to release first-quarter 2021 results on May 11, after market close.
Let’s check out the expectations in detail.
Q1 Expectations
The Zacks Consensus Estimate for revenues is pegged at $623.01 million, indicating significant growth of more than 100%, sequentially. The reported figure lies within the guided range of $600-$625 million.
The top line is likely to have benefited from increasing demand for Opendoor’s service, solid home resale performance and an increase in home purchases (which had been temporarily paused in March last year due to the onset of the pandemic).
Though the temporary discontinuation of buying and selling of homes in inventory during the second and third quarters of 2020 had weighed on the company’s 2020 revenues, the company started rebuilding its inventory in the fourth quarter of 2020 and is hopeful of returning to sequential revenue growth in the first quarter of 2021.
The Zacks Consensus Estimate is pegged at loss of 48 cents per share, indicating a sequential decline of more than 100%.
What Our Model Says
Our proven model does not conclusively predict an earnings beat 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. But that’s not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Opendoor Technologies has an Earnings ESP of 0.00% and a Zacks Rank #3.
Stocks to Consider
Here are a few stocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these have the right combination of elements to beat on their respective earnings.
IQVIA Holdings (IQV - Free Report) has an Earnings ESP of +0.71% and a Zacks Rank #2.
Fidelity National Information Services (FIS - Free Report) has an Earnings ESP of +2.01% and a Zacks Rank #3.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
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What Awaits Opendoor Technologies (OPEN) in Q1 Earnings?
Opendoor Technologies Inc. (OPEN - Free Report) is scheduled to release first-quarter 2021 results on May 11, after market close.
Let’s check out the expectations in detail.
Q1 Expectations
The Zacks Consensus Estimate for revenues is pegged at $623.01 million, indicating significant growth of more than 100%, sequentially. The reported figure lies within the guided range of $600-$625 million.
The top line is likely to have benefited from increasing demand for Opendoor’s service, solid home resale performance and an increase in home purchases (which had been temporarily paused in March last year due to the onset of the pandemic).
Though the temporary discontinuation of buying and selling of homes in inventory during the second and third quarters of 2020 had weighed on the company’s 2020 revenues, the company started rebuilding its inventory in the fourth quarter of 2020 and is hopeful of returning to sequential revenue growth in the first quarter of 2021.
The Zacks Consensus Estimate is pegged at loss of 48 cents per share, indicating a sequential decline of more than 100%.
What Our Model Says
Our proven model does not conclusively predict an earnings beat 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. But that’s not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Opendoor Technologies has an Earnings ESP of 0.00% and a Zacks Rank #3.
Stocks to Consider
Here are a few stocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these have the right combination of elements to beat on their respective earnings.
Interpublic (IPG - Free Report) has an Earnings ESP of +3.37% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
IQVIA Holdings (IQV - Free Report) has an Earnings ESP of +0.71% and a Zacks Rank #2.
Fidelity National Information Services (FIS - Free Report) has an Earnings ESP of +2.01% and a Zacks Rank #3.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>