Opendoor Technologies Inc is a real estate technology company that simplifies the process of buying and selling homes
By leveraging advanced algorithms and data analytics, Opendoor allows homeowners to receive instant offers for their properties, facilitating a quick and hassle-free selling experience. The company also provides a platform for homebuyers to easily explore and purchase homes, offering services that streamline transactions, financing, and renovations. By integrating technology into the real estate market, Opendoor aims to make the process more accessible and efficient for both sellers and buyers.
Shares of technology real estate company Opendoor (NASDAQOPEN)
fell 9.7% in the afternoon session after the company reported underwhelming fourth-quarter results: its quarterly guidance for sales and EBITDA fell short of Wall Street's estimates. On the other hand, Opendoor blew past analysts' revenue and EBITDA expectations this quarter. Still, this quarter could have been better.
Technology real estate company Opendoor (NASDAQOPEN) reported revenue ahead of Wall Street’s expectations in Q4 CY2024, with sales up 24.6% year on year to $1.08 billion. On the other hand, next quarter’s revenue guidance of $1.04 billion was less impressive, coming in 18.4% below analysts’ estimates. Its GAAP loss of $0.16 per share was in line with analysts’ consensus estimates.
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the real estate services industry, including Newmark (NASDAQNMRK) and its peers.
Opendoor has been treading water for the past six months, recording a small loss of 3% while holding steady at $1.91. The stock also fell short of the S&P 500’s 10.3% gain during that period.
