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Opendoor Technologies Inc. (OPEN) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Opendoor Technologies Inc. (OPEN - Free Report) closed at $4.35, marking a -0.91% move from the previous day. This change lagged the S&P 500's daily gain of 0.28%. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, added 5.28%.
Coming into today, shares of the company had gained 49.07% in the past month. In that same time, the Business Services sector gained 4.27%, while the S&P 500 gained 4.86%.
Opendoor Technologies Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2023. In that report, analysts expect Opendoor Technologies Inc. to post earnings of -$0.39 per share. This would mark a year-over-year decline of 305.26%. Meanwhile, our latest consensus estimate is calling for revenue of $1.86 billion, down 55.62% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.30 per share and revenue of $7.36 billion. These totals would mark changes of -41.3% and -52.73%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Opendoor Technologies Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Opendoor Technologies Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 119, which puts it in the top 48% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Sinks As Market Gains: What You Should Know
In the latest trading session, Opendoor Technologies Inc. (OPEN - Free Report) closed at $4.35, marking a -0.91% move from the previous day. This change lagged the S&P 500's daily gain of 0.28%. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, added 5.28%.
Coming into today, shares of the company had gained 49.07% in the past month. In that same time, the Business Services sector gained 4.27%, while the S&P 500 gained 4.86%.
Opendoor Technologies Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2023. In that report, analysts expect Opendoor Technologies Inc. to post earnings of -$0.39 per share. This would mark a year-over-year decline of 305.26%. Meanwhile, our latest consensus estimate is calling for revenue of $1.86 billion, down 55.62% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.30 per share and revenue of $7.36 billion. These totals would mark changes of -41.3% and -52.73%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Opendoor Technologies Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Opendoor Technologies Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 119, which puts it in the top 48% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.