Opendoor Technologies Inc. (OPEN) attracts a new wave of investors despite economic turmoil

Opendoor Technologies Inc. (NASDAQ: OPEN) closed the day trading at $1.38 up 4.55% from the previous closing price of $1.32. In other words, the price has increased by $+0.0600 from its previous closing price. On the day, 20183174 shares were traded. OPEN stock price reached its highest trading level at $1.5200 during the session, while it also had its lowest trading level at $1.3500.

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For a better understanding of OPEN, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 0.79 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 1.46. For the most recent quarter (mrq), Quick Ratio is recorded 1.30 and its Current Ratio is at 4.30. In the meantime, Its Debt-to-Equity ratio is 4.93 whereas as Long-Term Debt/Eq ratio is at 3.66.

Upgrades & Downgrades

On December 13, 2022, Citigroup started tracking the stock assigning a Neutral rating and target price of $1.50.Citigroup initiated its Neutral rating on December 13, 2022, with a $1.50 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Mar 01 when WHEELER CARRIE sold 394,700 shares for $1.36 per share. The transaction valued at 535,174 led to the insider holds 18,666,123 shares of the business.

Wu Eric Chung-Wei sold 52,335 shares of OPEN for $118,162 on Feb 15. The Director now owns 30,679,758 shares after completing the transaction at $2.26 per share. On Feb 10, another insider, Wu Eric Chung-Wei, who serves as the Director of the company, sold 100,000 shares for $1.92 each. As a result, the insider received 191,930 and left with 30,732,093 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 0.06 while its Price-to-Book (P/B) ratio in mrq is 0.81.

Stock Price History:

Over the past 52 weeks, OPEN has reached a high of $10.05, while it has fallen to a 52-week low of $0.92. The 50-Day Moving Average of the stock is 1.7148, while the 200-Day Moving Average is calculated to be 3.2803.

Shares Statistics:

Over the past 3-months, OPEN traded about 26.55M shares per day on average, while over the past 10 days, OPEN traded about 23.67M shares per day. A total of 634.68M shares are outstanding, with a floating share count of 537.71M. Insiders hold about 6.50% of the company’s shares, while institutions hold 69.00% stake in the company. Shares short for OPEN as of Jan 30, 2023 were 88.37M with a Short Ratio of 92.23M, compared to 83.96M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 13.93% and a Short% of Float of 15.63%.

Earnings Estimates

Current recommendations for the stock of the company come from 10 analysts. On average, analysts expect EPS of -$0.78 for the current quarter, with a high estimate of -$0.45 and a low estimate of -$1.24, while EPS last year was -$0.29. The consensus estimate for the next quarter is -$0.59, with high estimates of -$0.28 and low estimates of -$0.97.

Analysts are recommending an EPS of between -$1.96 and -$2.77 for the fiscal current year, implying an average EPS of -$2.35. EPS for the following year is -$1.58, with 10 analysts recommending between -$0.71 and -$2.52.

Revenue Estimates

11 analysts predict $2.47B in revenue for the current quarter. It ranges from a high estimate of $2.92B to a low estimate of $2.32B. As of the current estimate, Opendoor Technologies Inc.’s year-ago sales were $3.82B, an estimated decrease of -35.30% from the year-ago figure. For the next quarter, 9 analysts are estimating revenue of $2.53B, a decrease of -50.90% less than the figure of -$35.30% in the same quarter last year. There is a high estimate of $3.11B for the next quarter, whereas the lowest estimate is $2.19B.

A total of 12 analysts have provided revenue estimates for OPEN’s current fiscal year. The highest revenue estimate was $15.63B, while the lowest revenue estimate was $15.03B, resulting in an average revenue estimate of $15.18B. In the same quarter a year ago, actual revenue was $8.02B, up 89.30% from the average estimate. Based on 12 analysts’ estimates, the company’s revenue will be $11.61B in the next fiscal year. The high estimate is $15.36B and the low estimate is $8.36B. The average revenue growth estimate for next year is down -23.50% from the average revenue estimate for this year.