The iBuying business is down, but is it out? Opendoor (OPEN -5.60%) seems to be one of the few companies left in the iBuying business after competitors like Zillow (Z -0.07%) left the market. The challenge has been making money in a tight housing market that leaves iBuyers with the worst options. In this video, Travis Hoium examines whether this opportunity is worth buying or staying away from. *Stock prices used were end-of-day prices of Aug. 22, 2024. The video was published on Aug. 26, 2024. ...

Interest rates are coming down soon. That's good news for Opendoor. Shares of Opendoor Technologies (OPEN 13.61%) were among the winners today after Fed Chair Jerome Powell gave dovish remarks about interest rates at a closely watched speech in Jackson Hole, Wyoming. Real estate stock investors have been anticipating news that the Federal Reserve would lower rates soon, and Powell's embrace of rate cuts sent Opendoor and its real estate tech peers soaring today. As of 1:02 p.m. ET, shares of the online real ...

This beaten-down innovator is tweaking its marketing strategy and staging a comeback. Opendoor Technologies (OPEN -0.77%) started its publicly traded life on a high note. Shares of the cloudbased residential real estate trader more than tripled in its first eight months on the market. But the joy didn't last long. Opendoor's stock is down 94.6% from the peak in February 2021. The stock isn't an obvious slam dunk today, but I do see signs of better days ahead. Opendoor deserves your consideration if you're i ...

Opendoor Technologies Inc. (OPEN) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.31 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 63.64%. A quarter ago, it was expected that this company would post a loss of $0.17 per share when it actually produced a loss of $0.12, delivering a surprise of 29.41%. Over the last four quarters, the company ...

SAN FRANCISCO, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today reported financial results for its second quarter ended June 30, 2024. Opendoor's second quarter 2024 financial results and management commentary can be accessed through the Company's shareholder letter on the "Quarterly Reports" page of Opendoor's investor relations website at https://investor.opendoor.com. "We are proud of our second quar ...

SAN FRANCISCO, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Mainstay ("Company"), formerly Open Exchange, a comprehensive market intelligence and transaction platform for the single-family rental industry, today announced its launch as an independent, privately-held company, marking its separation from Opendoor Technologies Inc. ("Opendoor") (NASDAQ:OPEN), a leading e-commerce platform for residential real estate transactions. Mainstay also announced an equity capital raise led by Khosla Ventures, with participation f ...

MONTREAL, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Dorel Industries, Inc. (TSX: DII.B, DII.A) | --- | --- | |----------|------------------------------------------------| | | | | OPEN TO: | Analysts, investors and all interested parties | | DATE: | Friday, August 9, 2024 | | TIME: | 1:00 PM Eastern Time | | CALL: | 1-844-763-8274 | THE PRESS RELEASE WILL BE PUBLISHED BEFORE MARKETS OPEN THE SAME DAY THROUGH GLOBENEWSWIRE. Please dial in 15 minutes before the conference begins. If you are unable to call in at this t ...

Opendoor Technologies (OPEN) is scheduled to release its second-quarter 2024 results on Aug 1, after market close. Q2 Expectations The consensus estimate for the company's loss per share is pegged at 11 cents, whereas it reported a loss of 31 cents in the year-ago quarter. The bottom line is expected to have been affected by weak margins. Our proven model does not conclusively predict an earnings beat for OPEN this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 ( ...

Core Insights - The article discusses the potential recovery of Opendoor Technologies (OPEN) amidst improving market conditions and financial metrics, suggesting that the stock may be undervalued at current levels [5][15][24] Financial Performance - OPEN reported an average inventory price of $330K per home in FQ1'24, reflecting a decrease of 1% QoQ and 2.3% YoY, compared to a peak of $388K in FQ2'22 [4] - The company is expected to achieve contribution profit margins of 5.5% in FQ224, an increase of 0.7 points QoQ and 10.1 YoY, while EBITDA margins are projected at -2%, improving by 2.2 points QoQ and 6.5 YoY [10] - OPEN's gross margins improved to 9.7%, up 1.4 points QoQ and 4.3 YoY, with a contribution margin of 4.8% in FQ124, also up 1.4 points QoQ and 12.5 YoY [18] Market Conditions - The U.S. core CPI moderated to 3.3% by June 2024, indicating a shift closer to pre-pandemic averages, which is beneficial for OPEN as it may lead to increased consumer confidence and home buying activity [3][17] - The 30Y Fixed Rate Mortgage declined to 6.89% by July 2024, down from a peak of 7.79% in October 2023, which could stimulate demand in the housing market [17] Valuation Metrics - OPEN is currently valued at a forward EV/Revenues of 0.46x and a forward Price/Sales of 0.23x, significantly lower than peers like Redfin and Zillow, suggesting it is undervalued [21][22] - The consensus forward estimates indicate promising growth, with projected top line growth at a CAGR of 12.7% through FY2026 [21] Investor Sentiment - Despite a recent pullback of 38.1%, market sentiment is improving, driven by cooling inflation and potential Federal Reserve rate cuts, which may enhance OPEN's stock performance [15][14] - The stock is considered suitable for investors with higher risk tolerance, as it may remain volatile in the intermediate term due to cyclical nature of the residential market [14][15]

Shares of Opendoor Technologies (OPEN 5.00%) stock jumped 6.6% through 12:15 p.m. ET Thursday, and it's not the only winner in the real estate sector today. Real estate investment trusts (REITs) Medical Properties Trust (MPW 0.57%) and Kilroy Realty (KRC 5.84%) also spiked in morning trading, albeit with caveats. Good news on inflation is great news for REITs and other real estate stocks. As morning turns to afternoon, Kilroy stock is maintaining its momentum with a 5.7% gain, while Medical Properties Trust ...