Core Insights - The article discusses the potential recovery of Opendoor Technologies (OPEN) amidst improving market conditions and financial metrics, suggesting that the stock may be undervalued at current levels [5][15][24] Financial Performance - OPEN reported an average inventory price of $330K per home in FQ1'24, reflecting a decrease of 1% QoQ and 2.3% YoY, compared to a peak of $388K in FQ2'22 [4] - The company is expected to achieve contribution profit margins of 5.5% in FQ224, an increase of 0.7 points QoQ and 10.1 YoY, while EBITDA margins are projected at -2%, improving by 2.2 points QoQ and 6.5 YoY [10] - OPEN's gross margins improved to 9.7%, up 1.4 points QoQ and 4.3 YoY, with a contribution margin of 4.8% in FQ124, also up 1.4 points QoQ and 12.5 YoY [18] Market Conditions - The U.S. core CPI moderated to 3.3% by June 2024, indicating a shift closer to pre-pandemic averages, which is beneficial for OPEN as it may lead to increased consumer confidence and home buying activity [3][17] - The 30Y Fixed Rate Mortgage declined to 6.89% by July 2024, down from a peak of 7.79% in October 2023, which could stimulate demand in the housing market [17] Valuation Metrics - OPEN is currently valued at a forward EV/Revenues of 0.46x and a forward Price/Sales of 0.23x, significantly lower than peers like Redfin and Zillow, suggesting it is undervalued [21][22] - The consensus forward estimates indicate promising growth, with projected top line growth at a CAGR of 12.7% through FY2026 [21] Investor Sentiment - Despite a recent pullback of 38.1%, market sentiment is improving, driven by cooling inflation and potential Federal Reserve rate cuts, which may enhance OPEN's stock performance [15][14] - The stock is considered suitable for investors with higher risk tolerance, as it may remain volatile in the intermediate term due to cyclical nature of the residential market [14][15]

Shares of Opendoor Technologies (OPEN 5.00%) stock jumped 6.6% through 12:15 p.m. ET Thursday, and it's not the only winner in the real estate sector today. Real estate investment trusts (REITs) Medical Properties Trust (MPW 0.57%) and Kilroy Realty (KRC 5.84%) also spiked in morning trading, albeit with caveats. Good news on inflation is great news for REITs and other real estate stocks. As morning turns to afternoon, Kilroy stock is maintaining its momentum with a 5.7% gain, while Medical Properties Trust ...

SAN FRANCISCO, July 08, 2024 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. ("Opendoor") (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today announced that it will report second quarter 2024 financial results for the period ended June 30, 2024 following the close of the market on Thursday, August 1, 2024. On that day, management will host a conference call and webcast at 2:00 p.m. PT (5:00 p.m. ET) to discuss the company's business and financial results. Replay: An ...

What: Opendoor Second Quarter 2024 Earnings Conference Call When: Thursday, August 1, 2024 Time: 2:00 p.m. PT (5:00 p.m. ET) Live Webcast: A live webcast of the call can be accessed from the Events and Presentations page of the investor relations website, https://investor.opendoor.com Contacts About Opendoor Media: press@opendoor.com Opendoor's mission is to power life's progress, one move at a time. Since 2014, Opendoor has provided people across the U.S. with a simple and certain way to buy and sell a hom ...

EACA, NORD DDB, TBWA and ACT Responsible partner up to launch 'Creative Equality in Advertising 2024' Report reveals that women are still only winning 24% of the top metal across Europe's major awards The best performing country was Greece with 42% of the Gold and Grand Prix awards available going to female creatives, with the next best-performing countries Finland (32%) and Sweden (30%). The worstperforming in Europe were France and Poland on just 12% and Ireland and Belgium close on their heels with just ...

Today's softer-than-anticipated CPI report helped light a fire under rate-sensitive housing stocks. Shares of housing-related companies Opendoor (OPEN 4.22%), Home Depot (HD 2.67%), and NVR, Inc. (NVR 2.07%) rallied today, up 6.5%, 3%, and 2.1%, respectively, as of 3:20 p.m. EDT. However, all three stocks had been up significantly more earlier in the day. At one point, Opendoor had rocketed 19.2% higher at Wednesday's highs. A softer-than-expected print One sector especially sensitive to rates is the housin ...

Multiple signs are indicating that the U.S. economy's "higher for longer" interest rates are starting to take a greater toll on the country's housing market. First, last month the number of homes for sale whose prices were reduced came in at nearly 278,000, according to the Federal Reserve. Such a development would weigh on the demand for many goods, ranging from appliances to homeimprovement products to some raw materials. Here are three stocks for investors to sell and/or short amid the U.S. housing marke ...

Polaris-Supported Driver Branden Sims Finishes Second Overall Behind the Wheel of a Race-Prepped RZR Pro R MINNEAPOLIS, June 3, 2024 /PRNewswire/ -- The 56th running of the SCORE Baja 500 took place this past weekend, where the Polaris Factory Racing team continued its winning streak as Cayden MacCachren, along with his co-driver Hailey Hein, delivered a dominant performance to secure the prestigious UTV Overall and UTV Pro Open class victory. This marked MacCachren's third consecutive SCORE series win, sho ...

Urges Company to Conduct Periodic Investor Calls and Adopt Investor Outreach Program Believes Transparency and Engagement Will Help Unlock Tejon's Value PALO ALTO, Calif., May 23, 2024 /PRNewswire/ -- Glenbrook Capital Management ("Glenbrook" or "we"), a long-time shareholder of Tejon Ranch Co. (NYSE:TRC) ("Tejon"), today issued the following open letter to the Chairman of the Nominating and Corporate Governance Committee of Tejon's Board of Directors May 23, 2024 Tejon Ranch Co. P.O. Box 1000 Tejon Ranch, ...

*Stock prices used were the morning prices of May 17, 2024. The video was published on May 18, 2024. Opendoor (OPEN -1.03%) reported first-quarter results that exceeded the high end of the company's own profitability guidance. With management expecting margins to improve in the second quarter, and for sales volume to increase significantly, should you consider buying the stock? In this video, we'll take a look at the latest numbers and the reasons to be optimistic as well as cautious. The iBuying leader pro ...