Opendoor Technologies Stock Fair Value Calculation – OPENDOOR TECHNOLOGIES Reports Second Quarter FY 2023 Earnings on August 3 2023
August 29, 2023
🌥️Earnings Overview
On August 3, 2023, OPENDOOR TECHNOLOGIES ($NASDAQ:OPEN) released their financial results for the second quarter of Fiscal Year 2023. Their total revenue for the quarter amounted to USD 1976.0 million, a decrease of 52.9% from the same period the year before. However, their net income rose 142.6% year-on-year to USD 23.0 million.
Stock Price
On Thursday, OPENDOOR TECHNOLOGIES reported its second quarter earnings for fiscal year 2023. The company opened the day at $ 4.7 and closed at $ 4.8, up by 0.5% from the previous day’s closing price of $ 4.8. This marks an impressive performance for the company as it continues to exceed expectations and remain a leader in its sector. The successful second quarter earnings report was made possible by the company’s strategy of innovation and technology integration. OPENDOOR TECHNOLOGIES has developed a cutting-edge platform that helps customers find the right products and services to meet their needs.
Additionally, the company is dedicated to offering competitive prices, efficient customer service, and personalized experiences to create a superior customer experience. The company is also committed to sustainability initiatives which help to protect our environment and enhance the lives of our customers. OPENDOOR TECHNOLOGIES is investing in research and development to make their products and services more efficient and reliable. This dedication is supported by a commitment to ethical sourcing and manufacturing practices. Overall, OPENDOOR TECHNOLOGIES reported an impressive second quarter earnings for fiscal year 2023 and is in a position of strength as it continues to strive for excellence. The company’s innovative platform and commitment to sustainability initiatives make it a leader in the industry and ensure future success. 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 Stock Fair Value Calculation
At GoodWhale, we have conducted in-depth research into the fundamentals of OPENDOOR TECHNOLOGIES. Using our proprietary Valuation Line, we have calculated the intrinsic value of each OPENDOOR TECHNOLOGIES share to be around $29.0. Currently, OPENDOOR TECHNOLOGIES stock is traded at $4.8, which is a significant 83.4% undervaluation. As such, we believe there may be profitable opportunities for investors who have the risk appetite to invest in OPENDOOR TECHNOLOGIES. More…
Peers
There is intense competition between Opendoor Technologies Inc and its competitors: Offerpad Solutions Inc, Redfin Corp, Cian PLC. Each company is vying for a share of the online real estate market.
– Offerpad Solutions Inc ($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 financial results for the second quarter of 2023, with total revenue amounting to USD 1976.0 million, representing a decrease of 52.9% compared to the same period the previous year. Net income for the quarter was USD 23.0 million, an increase of 142.6% year-on-year. This suggests that OPENDOOR is struggling to stay in the black, yet their investments are still paying off. Investors should keep an eye on the company’s future performance as trends in the market may have an impact on their bottom line.
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