Analyst Nicholas Jones from Citizens JMP has adjusted the price target for Opendoor Technologies (OPEN, Financial), lowering it from $2.50 to $1.75, while maintaining an Outperform rating on the stock. The change reflects expectations of slower market share growth in the short term, particularly if ongoing pressures on existing home transactions persist. This situation could hinder Opendoor’s ability to acquire and sell homes, according to the analyst’s report to investors.
Despite these challenges, the analyst highlighted Opendoor's initiatives to enhance its cost structure. These efforts are seen as positioning the company favorably for a recovery and sustainable growth once the housing market stabilizes. The focus on cost efficiency could prove crucial for Opendoor as it navigates current industry headwinds.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for Opendoor Technologies Inc (OPEN, Financial) is $1.47 with a high estimate of $2.50 and a low estimate of $1.00. The average target implies an upside of 60.74% from the current price of $0.92. More detailed estimate data can be found on the Opendoor Technologies Inc (OPEN) Forecast page.
Based on the consensus recommendation from 11 brokerage firms, Opendoor Technologies Inc's (OPEN, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Opendoor Technologies Inc (OPEN, Financial) in one year is $1.77, suggesting a upside of 93.25% from the current price of $0.9159. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Opendoor Technologies Inc (OPEN) Summary page.
