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Opendoor Technologies Inc. (OPEN) Stock Drops Despite Market Gains: Important Facts to Note
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Opendoor Technologies Inc. (OPEN - Free Report) closed the most recent trading day at $3.50, moving -0.85% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 1.07%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 1.74%.
The company's stock has dropped by 12.19% in the past month, falling short of the Business Services sector's gain of 3.12% and the S&P 500's gain of 2.93%.
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 February 15, 2024. The company is expected to report EPS of -$0.18, up 75.68% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $831.24 million, indicating a 70.91% decline compared to the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Opendoor Technologies Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Opendoor Technologies Inc. holds a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 86, placing it within the top 35% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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Opendoor Technologies Inc. (OPEN) Stock Drops Despite Market Gains: Important Facts to Note
Opendoor Technologies Inc. (OPEN - Free Report) closed the most recent trading day at $3.50, moving -0.85% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 1.07%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 1.74%.
The company's stock has dropped by 12.19% in the past month, falling short of the Business Services sector's gain of 3.12% and the S&P 500's gain of 2.93%.
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 February 15, 2024. The company is expected to report EPS of -$0.18, up 75.68% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $831.24 million, indicating a 70.91% decline compared to the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Opendoor Technologies Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Opendoor Technologies Inc. holds a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 86, placing it within the top 35% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.