Opendoor Technologies Inc. [OPEN] stock Upgrade by BTIG Research analyst, price target now $15

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Opendoor Technologies Inc. [NASDAQ: OPEN] stock went on a downward path that fall over -5.47% on Friday, amounting to a one-week price decrease of less than -19.71%. The company report on April 7, 2022 that Opendoor to Report First Quarter 2022 Financial Results on May 5th, 2022.

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Opendoor Technologies Inc. (“Opendoor”) (Nasdaq: OPEN), a leading digital platform for residential real estate, today announced that it will report first quarter 2022 financial results for the period ended March 31, 2022, following the close of the market on Thursday, May 5, 2022. On that day management will host a conference call and webcast at 2:00 p.m. PT (5:00 p.m. ET) to discuss the company’s business and financial results.

What: Opendoor First Quarter 2022 Earnings Conference CallWhen: Thursday, May 5, 2022Time: 2:00 p.m. PT (5:00 p.m. ET)Live Webcast: A live webcast of the call can be accessed from the Events and Presentations page of the investor relations website, https://investor.opendoor.com.

Over the last 12 months, OPEN stock dropped by -63.72%. The one-year Opendoor Technologies Inc. stock forecast points to a potential upside of 56.87. The average equity rating for OPEN stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $5.09 billion, with 612.73 million shares outstanding and 517.86 million shares in the current float. Compared to the average trading volume of 16.62M shares, OPEN stock reached a trading volume of 14423500 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $16.44 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 2.10. 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.

BTIG Research have made an estimate for Opendoor Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 02, 2022. While these analysts kept the previous recommendation, Keefe Bruyette raised their target price to Mkt Perform. The new note on the price target was released on February 14, 2022, representing the official price target for Opendoor Technologies Inc. stock. Previously, the target price had yet another raise to $8, while BofA Securities analysts kept a Underperform rating on OPEN stock.

The Average True Range (ATR) for Opendoor Technologies Inc. is set at 0.73, with the Price to Sales ratio for OPEN stock in the period of the last 12 months amounting to 0.63. The Price to Book ratio for the last quarter was 1.93, with the Price to Cash per share for the same quarter was set at 3.08.

OPEN Stock Performance Analysis:

Opendoor Technologies Inc. [OPEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.71. With this latest performance, OPEN shares dropped by -22.77% in over the last four-week period, additionally sinking by -70.16% over the last 6 months – not to mention a drop of -63.72% in the past year of trading.

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 40.19, with the RSI for the last a single of trading hit 35.87, and the three-weeks RSI is set at 41.91 for Opendoor Technologies Inc. [OPEN]. The present Moving Average for the last 50 days of trading for this stock 8.56, while it was recorded at 7.92 for the last single week of trading, and 14.63 for the last 200 days.

Insight into Opendoor Technologies Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Opendoor Technologies Inc. [OPEN] shares currently have an operating margin of -7.03 and a Gross Margin at +9.10. Opendoor Technologies Inc.’s Net Margin is presently recorded at -8.25.

Return on Equity for this stock declined to -34.41, with Return on Assets sitting at -11.33.

Opendoor Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 2.10.

OPEN Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OPEN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Opendoor Technologies Inc. go to 5.20%.

Opendoor Technologies Inc. [OPEN] Insider Position Details

There are presently around $2,855 million, or 64.90% of OPEN stock, in the hands of institutional investors. The top three institutional holders of OPEN stocks are: VANGUARD GROUP INC with ownership of 44,379,397, which is approximately -3.348% of the company’s market cap and around 6.80% of the total institutional ownership; SB INVESTMENT ADVISERS (UK) LTD, holding 41,420,282 shares of the stock with an approximate value of $293.67 million in OPEN stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $256.44 million in OPEN stock with ownership of nearly 85.47% of the company’s market capitalization.

Positions in Opendoor Technologies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 191 institutional holders increased their position in Opendoor Technologies Inc. [NASDAQ:OPEN] by around 99,049,403 shares. Additionally, 157 investors decreased positions by around 73,901,200 shares, while 46 investors held positions by with 229,791,543 shares. The mentioned changes placed institutional holdings at 402,742,146 shares, according to the latest SEC report filing. OPEN stock had 89 new institutional investments in for a total of 44,804,448 shares, while 66 institutional investors sold positions of 9,272,528 shares during the same period.