Opendoor Technologies Inc [OPEN] Stock trading around $3.51 per share: What’s Next?

Opendoor Technologies Inc [NASDAQ: OPEN] stock went on a downward path that fall over -1.40% on Friday, amounting to a one-week price decrease of less than -3.17%. The company report on January 4, 2024 at 9:00 AM that Opendoor to Report Fourth Quarter 2023 Financial Results on February 15th, 2024.

What: Opendoor Fourth Quarter 2023 Earnings Conference CallWhen: Thursday, February 15, 2024Time: 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.

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Over the last 12 months, OPEN stock rose by 147.18%. The one-year Opendoor Technologies Inc stock forecast points to a potential downside of -2.03. The average equity rating for OPEN stock is currently 2.91, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.35 billion, with 637.39 million shares outstanding and 544.09 million shares in the current float. Compared to the average trading volume of 20.30M shares, OPEN stock reached a trading volume of 16127685 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 $3.44 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 2.91. 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 Neutral, with their previous recommendation back on December 20, 2023.

The Average True Range (ATR) for Opendoor Technologies Inc is set at 0.31, with the Price to Sales ratio for OPEN stock in the period of the last 12 months amounting to 0.26. 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 3.66. Price to Free Cash Flow for OPEN in the course of the last twelve months was 0.55.

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 -3.17. With this latest performance, OPEN shares gained by 2.03% in over the last four-week period, additionally sinking by -20.95% over the last 6 months – not to mention a rise of 147.18% 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 43.82, with the RSI for the last a single of trading hit 36.53, and the three-weeks RSI is set at 47.96 for Opendoor Technologies Inc [OPEN]. The present Moving Average for the last 50 days of trading for this stock 3.29, while it was recorded at 3.68 for the last single week of trading, and 2.97 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 -5.47 and a Gross Margin at +4.28. Opendoor Technologies Inc’s Net Margin is presently recorded at -8.69.

Return on Total Capital for OPEN is now -10.74, given the latest momentum, and Return on Invested Capital for the company is -26.51. Return on Equity for this stock declined to -81.16, with Return on Assets sitting at -16.79. When it comes to the capital structure of this company, Opendoor Technologies Inc [OPEN] has a Total Debt to Total Equity ratio set at 497.24. Additionally, OPEN Total Debt to Total Capital is recorded at 83.26, with Total Debt to Total Assets ending up at 81.72. Long-Term Debt to Equity for the company is recorded at 369.89, with the Long-Term Debt to Total Capital now at 61.93.

Reflecting on the efficiency of the workforce at the company, Opendoor Technologies Inc [OPEN] managed to generate an average of -$526,459 per employee. Receivables Turnover for the company is 273.11 with a Total Asset Turnover recorded at a value of 1.93.

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] Institutonal Ownership Details

The top three institutional holders of OPEN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in OPEN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in OPEN stock with ownership which is approximately 5.8325%.