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Opendoor Technologies (OPEN) Stock Jumps 10.7%: Will It Continue to Soar?
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Opendoor Technologies Inc. (OPEN - Free Report) shares soared 10.7% in the last trading session to close at $5.3. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.9% gain over the past four weeks.
Opendoor stock gained, driven by optimism around the bipartisan 21st Century ROAD to Housing Act, which could benefit housing-related companies. The rally also reflected recent bullish sentiment following Opendoor’s addition to the Russell 3000 Index.
This company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $900.12 million, down 42.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Opendoor Technologies, the consensus EPS estimate for the quarter has been revised 26.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on OPEN going forward to see if this recent jump can turn into more strength down the road.
Opendoor Technologies is part of the Zacks Internet - Software industry. Exodus Movement, Inc. (EXOD - Free Report) , another stock in the same industry, closed the last trading session 0.8% lower at $5.06. EXOD has returned -17.2% in the past month.
Exodus Movement, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.14. Compared to the company's year-ago EPS, this represents a change of -112.5%. Exodus Movement, Inc. currently boasts a Zacks Rank of #5 (Strong Sell).
View the Zacks #1 Rank List
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Opendoor Technologies (OPEN) Stock Jumps 10.7%: Will It Continue to Soar?
Opendoor Technologies Inc. (OPEN - Free Report) shares soared 10.7% in the last trading session to close at $5.3. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.9% gain over the past four weeks.
Opendoor stock gained, driven by optimism around the bipartisan 21st Century ROAD to Housing Act, which could benefit housing-related companies. The rally also reflected recent bullish sentiment following Opendoor’s addition to the Russell 3000 Index.
This company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $900.12 million, down 42.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Opendoor Technologies, the consensus EPS estimate for the quarter has been revised 26.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on OPEN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Opendoor Technologies is part of the Zacks Internet - Software industry. Exodus Movement, Inc. (EXOD - Free Report) , another stock in the same industry, closed the last trading session 0.8% lower at $5.06. EXOD has returned -17.2% in the past month.
Exodus Movement, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.14. Compared to the company's year-ago EPS, this represents a change of -112.5%. Exodus Movement, Inc. currently boasts a Zacks Rank of #5 (Strong Sell).