Fintel reports that on September 26, 2023, Gordon Haskett upgraded their outlook for Opendoor Technologies (NASDAQ:OPEN) from Underperform to Hold.

Analyst Price Forecast Suggests 41.38% Upside

As of August 31, 2023, the average one-year price target for Opendoor Technologies is 3.44. The forecasts range from a low of 1.01 to a high of $7.35. The average price target represents an increase of 41.38% from its latest reported closing price of 2.43.

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The projected annual revenue for Opendoor Technologies is 13,191MM, an increase of 16.59%. The projected annual non-GAAP EPS is -1.51.

What is the Fund Sentiment?

There are 509 funds or institutions reporting positions in Opendoor Technologies. This is an increase of 19 owner(s) or 3.88% in the last quarter. Average portfolio weight of all funds dedicated to OPEN is 0.19%, an increase of 126.86%. Total shares owned by institutions increased in the last three months by 9.86% to 419,497K shares. The put/call ratio of OPEN is 0.39, indicating a bullish outlook.

What are Other Shareholders Doing?

Sylebra Capital holds 32,735K shares representing 4.97% ownership of the company. In it’s prior filing, the firm reported owning 33,537K shares, representing a decrease of 2.45%. The firm increased its portfolio allocation in OPEN by 105.51% over the last quarter.

Slate Path Capital holds 21,176K shares representing 3.21% ownership of the company. In it’s prior filing, the firm reported owning 24,553K shares, representing a decrease of 15.95%. The firm increased its portfolio allocation in OPEN by 53.39% over the last quarter.

VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 18,082K shares representing 2.74% ownership of the company. In it’s prior filing, the firm reported owning 18,205K shares, representing a decrease of 0.68%. The firm decreased its portfolio allocation in OPEN by 30.64% over the last quarter.

Renaissance Technologies holds 17,785K shares representing 2.70% ownership of the company. In it’s prior filing, the firm reported owning 11,672K shares, representing an increase of 34.37%. The firm increased its portfolio allocation in OPEN by 277.95% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 16,337K shares representing 2.48% ownership of the company. In it’s prior filing, the firm reported owning 16,342K shares, representing a decrease of 0.03%. The firm increased its portfolio allocation in OPEN by 110.68% over the last quarter.

Opendoor Technologies Background Information
(This description is provided by the company.)

Opendoor’s mission is to empower everyone with the freedom to move. Since 2014, Opendoor has provided people across the U.S. with a radically simple way to buy, sell or trade-in a home. Opendoor operates in a growing number of markets across the U.S.

This article originally appeared on Fintel

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