Opendoor(US:OPEN) ZACKS·2026-03-09 17:30Core Insights - Opendoor Technologies Inc. is targeting 6,000 home acquisitions per quarter by the end of 2026 as part of its turnaround strategy aimed at scaling its platform and achieving sustained profitability [2][10] - The company reported a 46% increase in home purchases in Q4 2025, acquiring 1,706 homes, indicating a renewed focus on scaling after a period of lower volumes [3][10] - Opendoor is leveraging AI-driven tools and operational improvements under its "Opendoor 2.0" model to enhance efficiency and maintain margins while pursuing growth [4][5] Acquisition Strategy - The acquisition growth is expected to be more pronounced in the second half of 2026 as the company refines its conversion funnel and pricing models [3] - Management plans to reinvest excess margins from the October 2025 acquisition cohort into competitive pricing to support the goal of 6,000 quarterly acquisitions [3] Technological Advancements - Opendoor is implementing AI-driven workflows, automated property assessments, and machine learning pricing tools to improve operational efficiency and reduce manual processes [4] - The long-term objective is to achieve adjusted net income profitability on a 12-month forward basis by the end of 2026 [4] Competitive Landscape - Zillow Group has exited the iBuying business due to volatility in inventory pricing and has shifted to a capital-light marketplace model [6] - Offerpad continues to operate in the iBuying segment with a more conservative acquisition strategy, focusing on disciplined purchasing and cost controls [7] Stock Performance and Valuation - Opendoor's shares have declined by 14.7% over the past six months, compared to a 20.7% decline in the industry [8] - The company trades at a forward price-to-sales (P/S) multiple of 0.99, significantly below the industry's average of 4.03 [12] - The Zacks Consensus Estimate for Opendoor's 2026 loss per share has improved to 12 cents, down from a loss of 26 cents per share a year ago [15]