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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 the most recent trading day at $8.29, moving +0.48% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.17%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 0.18%.
Coming into today, shares of the company had lost 22.24% in the past month. In that same time, the Business Services sector lost 2%, while the S&P 500 gained 0.88%.
Opendoor Technologies Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Opendoor Technologies Inc. to post earnings of -$0.15 per share. This would mark a year-over-year decline of 275%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.21 billion, up 462.74% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.81 per share and revenue of $16.11 billion, which would represent changes of -305% and +100.9%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Opendoor Technologies Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 21.35% lower. Opendoor Technologies Inc. is currently sporting 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 172, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
View the Zacks #1 Rank List
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Opendoor Technologies Inc. (OPEN) Gains But Lags Market: What You Should Know
Opendoor Technologies Inc. (OPEN - Free Report) closed the most recent trading day at $8.29, moving +0.48% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.17%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 0.18%.
Coming into today, shares of the company had lost 22.24% in the past month. In that same time, the Business Services sector lost 2%, while the S&P 500 gained 0.88%.
Opendoor Technologies Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Opendoor Technologies Inc. to post earnings of -$0.15 per share. This would mark a year-over-year decline of 275%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.21 billion, up 462.74% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.81 per share and revenue of $16.11 billion, which would represent changes of -305% and +100.9%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Opendoor Technologies Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 21.35% lower. Opendoor Technologies Inc. is currently sporting 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 172, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.