Opendoor Technologies Inc. operates a digital platform for residential real estate transactions in the United States. It buys and sells homes. The company offers sell to opendoor product that enables homeowners to sell their home directly to it and resell the home to a home buyer; list with opendoor product that allows customers to list their home on the MLS with opendoor and receive cash offer; and opendoor marketplace product that connects the home seller with an institutional or retail buyer. It also provides real estate brokerage, title insurance and settlement, and escrow services, as well as property and casualty insurance, real estate licenses, and construction services. The company was formerly known as Social Capital Hedosophia Holdings Corp. II and changed its name to Opendoor Technologies Inc. Opendoor Technologies Inc. was incorporated in 2013 and is based in Tempe, Arizona.
Market Headwinds | Opendoor navigates a turbulent housing market, facing revenue declines and volatile conditions while leveraging its technological edge for future growth |
Financial Resilience | Explore Opendoor's Q3 performance, surpassing revenue estimates at $1.38 billion, with an average home price of $381,000 despite industry pressures |
Strategic Adaptation | Delve into Opendoor's cost-cutting measures and brand awareness initiatives, positioning the company for rapid scaling when market conditions improve |
Future Prospects | Analysts maintain cautious optimism with price targets ranging from $2.50 to $4.00, anticipating potential catalysts from declining interest rates in late 2024 |
Metrics to compare | OPEN | Sector Sector - Average of metrics from a broad group of related Real Estate sector companies | Relationship RelationshipOPENPeersSector | |
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P/E Ratio | −1.1x | −2.1x | 8.5x | |
PEG Ratio | 0.05 | −0.02 | 0.01 | |
Price/Book | 0.7x | 1.1x | 0.9x | |
Price / LTM Sales | 0.1x | 0.3x | 3.7x | |
Upside (Analyst Target) | 71.2% | 20.9% | 14.7% | |
Fair Value Upside | Unlock | 20.8% | 2.6% | Unlock |