Opendoor Technologies Inc (OPEN) Down -53.58% From Its 52-Week High, But Growth Potential Is Changing Over Time

Opendoor Technologies Inc (NASDAQ:OPEN) currently has a daily average trading volume of 36.06M but it saw 43704838 shares traded in last market. With a market cap of 1.67B USD, the company’s current market price of $2.27 came rising about 3.18 while comparing to the previous closing price of $2.20. In past 52 weeks, the stock remained buoying in the range of price level as high as $4.89 and as low as $1.52. In the recent trading on the day, stock has struck highest price mark of $2.17 while lowest mark touched by it was $2.34.

Taking a look at 20-day trading activity of Opendoor Technologies Inc (OPEN) gives us an average price of $1.85, while its current price level is -53.58% below from 52-week high level whereas it is 49.34% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $1.88 while that of 200 days or SMA-200 reads an average of $2.22. A closer look into the stock’s movement over the week reveals that its volatility is standing at 11.99% during that period while stretching the period over a month that decreases to 8.56%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 66.58 which implies that the stock is in neutral territory.

Keefe Bruyette upgraded its recommendation for the stock as a “Mkt Perform” from “Underperform” on December 13, 2023 while assigning a price target of $3.50. Deutsche Bank issued its recommendations for the stock as it initiated the price target for the stock is $2.80.

Over the week, OPEN’s stock price is moving 39.26% up while it is 26.82% when we observe its performance for the past one month. Year-to-date it is -49.33% down and over the past year, the stock is showing a downside performance of -21.45%.

The latest quarterly earnings report issued by the company reported quarterly earnings per share (EPS) of -0.14 beat the consensus estimate of -0.19 for the same. The company is expected to be releasing its next quarterly report in December, for which analysts forecasted an EPS of -0.14 while estimate for next year EPS is -0.39. In next quarter, company is expected to be making quarterly sales of $1.35B as analysts are expecting the sales for current fiscal year at $5.03B and seeing the company making $6.27B in sales next year. Moreover, analysts are in estimates of $965.35M for current-quarter revenue.

Currently, Opendoor Technologies Inc’s total number of outstanding shares is 677.64M. Company’s return on investment (ROI) stands at -13.76% and return on equity (ROE) at -40.64%. Stock’s beta reads 2.74. Stock has a price to book (P/B) ratio of 2.02 while price to sale or P/S ratio amounts to 0.34. Its return on asset (ROA) is -10.06% on average.