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Opendoor Technologies Inc. (OPEN) Gains As Market Dips: What You Should Know

Opendoor Technologies Inc. (OPEN) closed at $16.83 in the latest trading session, marking a +1.08% move from the prior day. This change outpaced the S&P 500's 0.04% loss on the day.

Coming into today, shares of the company had gained 14.12% in the past month. In that same time, the Business Services sector gained 2.71%, while the S&P 500 gained 1.35%.

Wall Street will be looking for positivity from OPEN as it approaches its next earnings report date.

OPEN's full-year Zacks Consensus Estimates are calling for earnings of -$1.31 per share and revenue of $4.86 billion. These results would represent year-over-year changes of +18.13% and +87.99%, respectively.

Any recent changes to analyst estimates for OPEN should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. OPEN is currently a Zacks Rank #3 (Hold).

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 225, putting it in the bottom 12% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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