Opendoor Technologies Inc [NASDAQ: OPEN] gained 0.97% on the last trading session, reaching $3.11 price per share at the time. The company report on February 15, 2024 at 4:05 PM that Opendoor Announces Fourth Quarter and Full Year 2023 Financial Results.
“The past year was about focus, execution, and progress. Our fourth quarter results exceeded the high end of our prior guidance ranges, demonstrating our ability to deliver, despite ongoing uncertainty in the housing market. We increased our home acquisitions sequentially throughout the year, built a new book of inventory that is performing well, and drove structural efficiencies across our platform that we expect will benefit the Company for years to come. Most importantly, we’ve remained steadfast in our vision of helping people move with simplicity and certainty,” said Carrie Wheeler, CEO of Opendoor.
If compared to the average trading volume of 21.68M shares, OPEN reached a trading volume of 14739188 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $3.03 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 2.92. 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 new note on the price target was released on December 13, 2023, representing the official price target for Opendoor Technologies Inc stock. Previously, the target price had yet another raise to $2.80, while Deutsche Bank analysts kept a Hold rating on OPEN stock.
The Average True Range (ATR) for Opendoor Technologies Inc is set at 0.25, with the Price to Sales ratio for OPEN stock in the period of the last 12 months amounting to 0.30. The Price to Book ratio for the last quarter was 2.18, with the Price to Cash per share for the same quarter was set at 2.37. Price to Free Cash Flow for OPEN in the course of the last twelve months was 0.92.
Trading performance analysis for OPEN stock
Opendoor Technologies Inc [OPEN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.36. With this latest performance, OPEN shares dropped by -9.06% in over the last four-week period, additionally sinking by -21.07% over the last 6 months – not to mention a rise of 132.09% 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 46.82, with the RSI for the last a single of trading hit 48.44, and the three-weeks RSI is set at 46.95 for Opendoor Technologies Inc [OPEN]. The present Moving Average for the last 50 days of trading for this stock 3.54, while it was recorded at 3.08 for the last single week of trading, and 3.23 for the last 200 days.
Opendoor Technologies Inc [OPEN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Opendoor Technologies Inc posted -0.64/share EPS, while the average EPS was predicted by analysts to be reported at -0.66/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.00%. 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%.
An analysis of Institutional ownership at Opendoor Technologies Inc [OPEN]
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%.
