Opendoor Technologies Intrinsic Value Calculator – OPENDOOR TECHNOLOGIES Announces Second Quarter 2023 Earnings Results
August 25, 2023
🌥️Earnings Overview
On August 3rd 2023, OPENDOOR TECHNOLOGIES ($NASDAQ:OPEN) reported their earnings results for the second quarter of the fiscal year 2023 (ending June 30th 2023), showing a total revenue of USD 1976.0 million – a decrease of 52.9% compared to the same quarter in the previous year. In contrast, net income was up 142.6%, amounting to USD 23.0 million year-over-year.
Market Price
The company opened its stock at $4.7 and closed at $4.8, representing an increase of 0.5% from the previous closing price of 4.8. This was a positive outcome for the company and investors alike. The results from OPENDOOR TECHNOLOGIES showed that the company is continuing to expand its reach in the technology market and is doing well financially. The company has seen impressive growth over the past year and has established itself as a leader in the industry. This success is continuing to show in their financial results, with the stock price increasing steadily.
Overall, OPENDOOR TECHNOLOGIES had a successful second quarter. The company is clearly on track to continue its positive trajectory and looks set to deliver positive results in upcoming quarters. Investors are optimistic about the company’s long-term prospects and are looking forward to the continued success of OPENDOOR TECHNOLOGIES. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Opendoor Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 11.31k | -1.41k | -12.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Opendoor Technologies. More…
| Operations | Investing | Financing |
| 4.17k | 96 | -4.32k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Opendoor Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.22k | 3.14k | 1.65 |
Key Ratios Snapshot
Some of the financial key ratios for Opendoor Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 48.6% | – | -9.3% |
| FCF Margin | ROE | ROA |
| 36.6% | -61.7% | -15.5% |
Analysis – Opendoor Technologies Intrinsic Value Calculator
At GoodWhale, we have conducted an analysis of OPENDOOR TECHNOLOGIES‘s wellbeing and found that the intrinsic value of their share is around $29.2. This value was calculated using our proprietary Valuation Line, which is designed to assess the true worth of a company. Currently, OPENDOOR TECHNOLOGIES stock is traded at $4.8, which is significantly below its intrinsic value, undervaluing the company by 83.6%. Therefore, we believe that there is potential for investors to capitalize on this opportunity and look to purchase OPENDOOR TECHNOLOGIES stock at this significantly discounted price. More…
Peers
There is intense competition between Opendoor Technologies Inc and its competitors: Offerpad Solutions Inc, Redfin Corp, Cian PLC. Each company is vying for a share of the online real estate market.
– Offerpad Solutions Inc ($NYSE:OPAD)
Offerpad Solutions Inc is a technology company that provides a platform for buying and selling homes. The company has a market cap of 209.45M as of 2022 and a return on equity of 16.13%. Offerpad was founded in 2015 and is headquartered in Gilbert, Arizona.
– Redfin Corp ($NASDAQ:RDFN)
Redfin is a technology-powered real estate brokerage that operates in the United States and Canada. The company has a market cap of $465.27 million and a return on equity of -50.48%. Redfin uses technology to make the home buying and selling process more efficient and convenient for customers. The company offers a variety of services such as home search, home sales, and home financing.
– Cian PLC ($NYSE:CIAN)
Cian PLC is a Irish-based company that provides technology solutions for the real estate industry. The company operates in two segments: technology solutions and real estate services. The technology solutions segment provides software products and services to real estate professionals, including property listing platforms, CRM and marketing tools, data and analytics products, and transaction management solutions. The real estate services segment offers a range of services to real estate professionals, including property management, brokerage, and consulting services. Cian PLC was founded in 1998 and is headquartered in Dublin, Ireland.
Summary
OPENDOOR TECHNOLOGIES reported their earnings results for the second quarter of 2023, with total revenue decreasing by 52.9% year-over-year. Net income, however, increased by 142.6% when compared to the same quarter of the previous fiscal year. Investors may view this as a positive sign, as it indicates that the company is managing its costs efficiently and is successfully managing its operational costs.
The increase in net income could suggest that the company is expanding its market share, or alternatively, that it is creating new products that are resonating with customers. Investors should closely monitor these earnings results and consider the factors that may have contributed to the growth in net income before making any investment decisions.
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