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Opendoor Technologies Inc. (OPEN) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Opendoor Technologies Inc. (OPEN - Free Report) closed at $2.67, marking a -1.84% move from the previous day. This change lagged the S&P 500's daily loss of 0.74%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 0.05%.
Coming into today, shares of the company had lost 13.92% in the past month. In that same time, the Business Services sector gained 1.47%, while the S&P 500 gained 4.58%.
Investors will be hoping for strength from Opendoor Technologies Inc. as it approaches its next earnings release, which is expected to be November 3, 2022. In that report, analysts expect Opendoor Technologies Inc. to post earnings of -$0.37 per share. This would mark a year-over-year decline of 1750%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.58 billion, up 13.79% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.24 per share and revenue of $14.46 billion. These totals would mark changes of -20% and +80.32%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Opendoor Technologies Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.55% lower within the past month. Opendoor Technologies Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 132, which puts it in the bottom 48% 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.
To follow OPEN in the coming trading sessions, be sure to utilize Zacks.com.
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Opendoor Technologies Inc. (OPEN) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Opendoor Technologies Inc. (OPEN - Free Report) closed at $2.67, marking a -1.84% move from the previous day. This change lagged the S&P 500's daily loss of 0.74%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 0.05%.
Coming into today, shares of the company had lost 13.92% in the past month. In that same time, the Business Services sector gained 1.47%, while the S&P 500 gained 4.58%.
Investors will be hoping for strength from Opendoor Technologies Inc. as it approaches its next earnings release, which is expected to be November 3, 2022. In that report, analysts expect Opendoor Technologies Inc. to post earnings of -$0.37 per share. This would mark a year-over-year decline of 1750%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.58 billion, up 13.79% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.24 per share and revenue of $14.46 billion. These totals would mark changes of -20% and +80.32%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Opendoor Technologies Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.55% lower within the past month. Opendoor Technologies Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 132, which puts it in the bottom 48% 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.
To follow OPEN in the coming trading sessions, be sure to utilize Zacks.com.