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

Opendoor Technologies Inc. (OPEN) closed at $20.83 in the latest trading session, marking a -1.37% move from the prior day.

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This story originally appeared on Zacks

In the latest trading session, Opendoor Technologies Inc. (OPEN) closed at $20.83, marking a -1.37% move from the previous day. This move lagged the S&P 500's daily gain of 0.65%.

- Zacks

Coming into today, shares of the company had gained 9.89% in the past month. In that same time, the Business Services sector gained 2.57%, while the S&P 500 gained 6.38%.

Wall Street will be looking for positivity from OPEN as it approaches its next earnings report date. This is expected to be November 10, 2021.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.08 per share and revenue of $6.91 billion, which would represent changes of +32.5% and +167.44%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for OPEN. Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.3% higher. OPEN is currently a Zacks Rank #2 (Buy).

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 43% 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.

To follow OPEN in the coming trading sessions, be sure to utilize Zacks.com.



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