why Opendoor Technologies Inc. [OPEN] is a Good Choice for Investors After New Price Target of $8.83

Opendoor Technologies Inc. [NASDAQ: OPEN] surged by $0.31 during the normal trading session on Friday and reaching a high of $6.385 during the day while it closed the day at $6.30. The company report on August 4, 2022 that Zillow, Opendoor announce multi-year partnership.

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Home sellers visiting Zillow will be able to request an Opendoor offer .

Zillow, Inc. (Nasdaq: Z and ZG) and Opendoor Technologies Inc. (Nasdaq: OPEN) have announced a multi-year partnership that combines two category leaders to transform how people start their move. The partnership will allow home sellers on the Zillow platform to seamlessly request an Opendoor offer to sell their home.

Opendoor Technologies Inc. stock has also gained 10.14% of its value over the past 7 days. However, OPEN stock has inclined by 0.64% in the 3 months of the year. Over the past six months meanwhile, it has lost -38.78% and lost -56.88% year-on date.

The market cap for OPEN stock reached $3.77 billion, with 624.96 million shares outstanding and 525.85 million shares in the current float. Compared to the average trading volume of 18.59M shares, OPEN reached a trading volume of 15104194 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $8.83 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 2.30. 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.

JP Morgan have made an estimate for Opendoor Technologies Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 28, 2022. While these analysts kept the previous recommendation, Truist raised their target price to Buy. The new note on the price target was released on July 13, 2022, representing the official price target for Opendoor Technologies Inc. stock.

The Average True Range (ATR) for Opendoor Technologies Inc. is set at 0.50, with the Price to Sales ratio for OPEN stock in the period of the last 12 months amounting to 0.24. The Price to Book ratio for the last quarter was 1.67, with the Price to Cash per share for the same quarter was set at 4.13.

OPEN stock trade performance evaluation

Opendoor Technologies Inc. [OPEN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.14. With this latest performance, OPEN shares gained by 27.02% in over the last four-week period, additionally sinking by -38.78% over the last 6 months – not to mention a drop of -64.96% 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 60.71, with the RSI for the last a single of trading hit 66.03, and the three-weeks RSI is set at 56.53 for Opendoor Technologies Inc. [OPEN]. The present Moving Average for the last 50 days of trading for this stock 5.48, while it was recorded at 5.91 for the last single week of trading, and 9.98 for the last 200 days.

Opendoor Technologies Inc. [OPEN]: An insightful look at the core 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 0.90 and a Current Ratio set at 2.80.

Earnings per share (EPS) analysis for Opendoor Technologies Inc. [OPEN] stock

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 Ownership positions

There are presently around $2,834 million, or 69.70% of OPEN stock, in the hands of institutional investors. The top three institutional holders of OPEN stocks are: VANGUARD GROUP INC with ownership of 61,261,389, which is approximately 39.19% of the company’s market cap and around 7.00% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 45,272,867 shares of the stock with an approximate value of $285.22 million in OPEN stocks shares; and SB INVESTMENT ADVISERS (UK) LTD, currently with $260.95 million in OPEN stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Opendoor Technologies Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 162 institutional holders increased their position in Opendoor Technologies Inc. [NASDAQ:OPEN] by around 87,661,543 shares. Additionally, 137 investors decreased positions by around 47,247,537 shares, while 74 investors held positions by with 314,882,531 shares. The mentioned changes placed institutional holdings at 449,791,611 shares, according to the latest SEC report filing. OPEN stock had 53 new institutional investments in for a total of 12,473,584 shares, while 56 institutional investors sold positions of 20,646,279 shares during the same period.


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