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Opendoor Technologies Inc. (OPEN) Gains As Market Dips: What You Should Know

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Opendoor Technologies Inc. (OPEN - Free Report) closed at $2.57 in the latest trading session, marking a +0.78% move from the prior day. This move outpaced the S&P 500's daily loss of 0.23%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.09%.

Coming into today, shares of the company had lost 20.81% in the past month. In that same time, the Business Services sector lost 0.24%, while the S&P 500 lost 1.43%.

Wall Street will be looking for positivity from Opendoor Technologies Inc. as it approaches its next earnings report date. On that day, Opendoor Technologies Inc. is projected to report earnings of -$0.17 per share, which would represent year-over-year growth of 67.31%. Meanwhile, our latest consensus estimate is calling for revenue of $985.97 million, down 70.66% from the prior-year quarter.

OPEN's full-year Zacks Consensus Estimates are calling for earnings of -$1.22 per share and revenue of $7.23 billion. These results would represent year-over-year changes of -32.61% and -53.58%, respectively.

Investors might also notice recent changes to analyst estimates for Opendoor Technologies Inc.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.

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. Within the past 30 days, our consensus EPS projection remained stagnant. 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 150, putting it in the bottom 41% 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.

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