Opendoor Technologies Inc. [OPEN] Revenue clocked in at $2.58 billion, down -9.72% YTD: What’s Next?

Opendoor Technologies Inc. [NASDAQ: OPEN] traded at a high on 03/30/21, posting a 0.34 gain after which it closed the day’ session at $20.52. The company report on March 5, 2021 that Opendoor Announces Fourth Quarter and Full Year 2020 Results.

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Exceeds prior expectations for fourth quarter and full year 2020 resultsDoubling of markets expected for 2021.

Opendoor Technologies Inc. (Nasdaq: OPEN), a leading digital platform for residential real estate, reported financial results for its fourth quarter and fiscal year ended December 31, 2020. Management will host a conference call at 2:00 p.m. Pacific Time to discuss its operating results, which can be accessed on its investor relations website at https://investor.opendoor.com.

The results of the trading session contributed to over 10130922 shares changing hands. Over the past one week, the price volatility of Opendoor Technologies Inc. stands at 11.47% while the volatility over the past one month is 12.26%.

The market cap for OPEN stock reached $12.36 billion, with 577.23 million shares outstanding and 356.84 million shares in the current float. Compared to the average trading volume of 10.22M shares, OPEN reached a trading volume of 10130922 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Opendoor Technologies Inc. [OPEN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OPEN shares is $35.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OPEN stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Opendoor Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 18, 2021. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on March 01, 2021, representing the official price target for Opendoor Technologies Inc. stock. Previously, the target price had yet another raise to $42, while KeyBanc Capital Markets analysts kept a Overweight rating on OPEN stock.

The Average True Range (ATR) for Opendoor Technologies Inc. is set at 2.74, with the Price to Sales ratio for OPEN stock in the period of the last 12 months amounting to 4.78. The Price to Book ratio for the last quarter was 2.30, with the Price to Cash per share for the same quarter was set at 2.42. Price to Free Cash Flow for OPEN in the course of the last twelve months was 18.60 with Quick ratio for the last quarter at 4.00.

How has OPEN stock performed recently?

Opendoor Technologies Inc. [OPEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.91. With this latest performance, OPEN shares dropped by -32.10% in over the last four-week period, additionally plugging by 22.73% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OPEN stock in for the last two-week period is set at 36.80, with the RSI for the last a single of trading hit 31.45, and the three-weeks RSI is set at 40.20 for Opendoor Technologies Inc. [OPEN]. The present Moving Average for the last 50 days of trading for this stock 27.57, while it was recorded at 21.72 for the last single week of trading.

Opendoor Technologies Inc. [OPEN]: Deeper insight into the fundamentals

Opendoor Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.00 and a Current Ratio set at 5.20.

Insider trade positions for Opendoor Technologies Inc. [OPEN]

There are presently around $5,315 million, or 49.30% of OPEN stock, in the hands of institutional investors. The top three institutional holders of OPEN stocks are: SB INVESTMENT ADVISERS (UK) LTD with ownership of 73,620,282, which is approximately New of the company’s market cap and around 8.60% of the total institutional ownership; VK SERVICES, LLC, holding 46,120,934 shares of the stock with an approximate value of $946.4 million in OPEN stocks shares; and MAGNETAR FINANCIAL LLC, currently with $491.67 million in OPEN stock with ownership of nearly New of the company’s market capitalization.

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117 institutional holders increased their position in Opendoor Technologies Inc. [NASDAQ:OPEN] by around 247,355,918 shares. Additionally, 51 investors decreased positions by around 9,101,206 shares, while 5 investors held positions by with 2,552,568 shares. The mentioned changes placed institutional holdings at 259,009,692 shares, according to the latest SEC report filing. OPEN stock had 94 new institutional investments in for a total of 230,180,333 shares, while 41 institutional investors sold positions of 7,977,697 shares during the same period.

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