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

Opendoor Technologies Inc. [NASDAQ: OPEN] slipped around -0.2 points on Friday, while shares priced at $4.61 at the close of the session, down -4.16%. 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 is now -68.45% down from its year-to-date (YTD) trading value. OPEN Stock saw the intraday high of $4.82 and lowest of $4.56 per share. The company’s 52-week high price is 25.33, which means current price is +7.21% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 18.19M shares, OPEN reached a trading volume of 12505780 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 $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 0.41, with the Price to Sales ratio for OPEN stock in the period of the last 12 months amounting to 0.20. The Price to Book ratio for the last quarter was 1.22, with the Price to Cash per share for the same quarter was set at 3.77.

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 -2.95. With this latest performance, OPEN shares dropped by -8.53% in over the last four-week period, additionally sinking by -45.38% over the last 6 months – not to mention a drop of -72.41% 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 41.24, with the RSI for the last a single of trading hit 37.19, and the three-weeks RSI is set at 43.18 for Opendoor Technologies Inc. [OPEN]. The present Moving Average for the last 50 days of trading for this stock 5.18, while it was recorded at 4.69 for the last single week of trading, and 9.09 for the last 200 days.

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

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%.

Insider trade positions for Opendoor Technologies Inc. [OPEN]

There are presently around $2,054 million, or 72.90% of OPEN stock, in the hands of institutional investors. The top three institutional holders of OPEN stocks are: VANGUARD GROUP INC with ownership of 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 52,493,150 shares of the stock with an approximate value of $241.99 million in OPEN stocks shares; and SYLEBRA CAPITAL LTD, currently with $140.74 million in OPEN stock with ownership of nearly 22.941% 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 175 institutional holders increased their position in Opendoor Technologies Inc. [NASDAQ:OPEN] by around 109,502,306 shares. Additionally, 130 investors decreased positions by around 89,344,239 shares, while 69 investors held positions by with 246,642,369 shares. The mentioned changes placed institutional holdings at 445,488,914 shares, according to the latest SEC report filing. OPEN stock had 52 new institutional investments in for a total of 21,862,261 shares, while 50 institutional investors sold positions of 11,867,513 shares during the same period.


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