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Opendoor Technologies Inc. (OPEN) Advances While Market Declines: Some Information for Investors
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The most recent trading session ended with Opendoor Technologies Inc. (OPEN - Free Report) standing at $2.13, reflecting a +0.47% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 1.18%. Meanwhile, the Dow experienced a drop of 0.76%, and the technology-dominated Nasdaq saw a decrease of 1.76%.
Shares of the company have depreciated by 16.86% over the course of the past month, underperforming the Business Services sector's loss of 4.13% and the S&P 500's loss of 3.35%.
Investors will be eagerly watching for the performance of Opendoor Technologies Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 2, 2023. The company is expected to report EPS of -$0.17, up 67.31% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $985.97 million, indicating a 70.66% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.22 per share and revenue of $7.23 billion, indicating changes of -32.61% and -53.58%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Opendoor Technologies Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Opendoor Technologies Inc. presently features a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 91, this industry ranks in the top 37% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Opendoor Technologies Inc. (OPEN) Advances While Market Declines: Some Information for Investors
The most recent trading session ended with Opendoor Technologies Inc. (OPEN - Free Report) standing at $2.13, reflecting a +0.47% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 1.18%. Meanwhile, the Dow experienced a drop of 0.76%, and the technology-dominated Nasdaq saw a decrease of 1.76%.
Shares of the company have depreciated by 16.86% over the course of the past month, underperforming the Business Services sector's loss of 4.13% and the S&P 500's loss of 3.35%.
Investors will be eagerly watching for the performance of Opendoor Technologies Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 2, 2023. The company is expected to report EPS of -$0.17, up 67.31% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $985.97 million, indicating a 70.66% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.22 per share and revenue of $7.23 billion, indicating changes of -32.61% and -53.58%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Opendoor Technologies Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Opendoor Technologies Inc. presently features a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 91, this industry ranks in the top 37% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.