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Opendoor Technologies Inc. (OPEN) Stock Sinks As Market Gains: What You Should Know
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Opendoor Technologies Inc. (OPEN - Free Report) closed the most recent trading day at $8.48, moving -1.97% from the previous trading session. This move lagged the S&P 500's daily gain of 0.34%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, lost 0.47%.
Heading into today, shares of the company had gained 10.76% over the past month, outpacing the Business Services sector's gain of 3.05% and the S&P 500's gain of 3.75% in that time.
Opendoor Technologies Inc. will be looking to display strength as it nears its next earnings release. On that day, Opendoor Technologies Inc. is projected to report earnings of -$0.17 per share, which would represent a year-over-year decline of 325%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.21 billion, up 462.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.81 per share and revenue of $16.11 billion. These totals would mark changes of -305% and +100.9%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Opendoor Technologies Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.52% higher. Opendoor Technologies Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 171, 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Opendoor Technologies Inc. (OPEN) Stock Sinks As Market Gains: What You Should Know
Opendoor Technologies Inc. (OPEN - Free Report) closed the most recent trading day at $8.48, moving -1.97% from the previous trading session. This move lagged the S&P 500's daily gain of 0.34%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, lost 0.47%.
Heading into today, shares of the company had gained 10.76% over the past month, outpacing the Business Services sector's gain of 3.05% and the S&P 500's gain of 3.75% in that time.
Opendoor Technologies Inc. will be looking to display strength as it nears its next earnings release. On that day, Opendoor Technologies Inc. is projected to report earnings of -$0.17 per share, which would represent a year-over-year decline of 325%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.21 billion, up 462.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.81 per share and revenue of $16.11 billion. These totals would mark changes of -305% and +100.9%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Opendoor Technologies Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.52% higher. Opendoor Technologies Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 171, 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.