Akcie společnosti Opendoor Technologies 16. října 2026 klesly o 8,84 % na 2,12 USD po zprávách o nových 52týdenních minimech a vyšších nákladech na dluh.
Opendoor Technologies (OPEN -8.84%), a digital home buying, selling, and settlement platform, closed at $2.12, down 8.84% on Oct. 16, 2026. Friday's slide followed reports of fresh 52-week lows and higher debt costs, while investors are watching early November earnings for guidance, liquidity, and margin trends.
Trading volume reached 64.6 million shares, coming in about 53% above its three-month average of 42.1 million shares. Opendoor Technologies IPO'd in 2020 and has fallen 80% since going public.
How the markets moved todayS&P 500 (SNPINDEX: ^GSPC) closed at 7,659, down 1.09%, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) finished at 26,140, down 2.14%. Among U.S. online residential real estate transactions and iBuying peers, Zillow Group (ZG -1.70%) closed at $31.88, down 1.70%, as housing and rate sensitivity kept the sector under pressure.
What this means for investorsOpendoor Technologies stock fell today, Oct. 16, as shares still felt the sting of this week’s plunge to a historical all-time low of $1.93 per share during intraday trading on Oct. 15. The stock had recovered from the low as a sharp drop in the 10-year Treasury yield fueled a small rally. That trend reversed today as a sluggish housing market battling rising interest rates kept Wall Street investors concerned about the company and the real estate sector in general.
Last week, Opendoor said its home-loan unit exited beta and added fixed and adjustable mortgages, which could broaden the platform and support transaction volume. The new offering is intended to streamline the homebuying process for consumers with loan pre-qualification happening in minutes.
The company is working to transform its business amid declining sales. In the second quarter, Opendoor reported revenue of $883 million, a massive drop from 2025's $1.6 billion. Adding to the dismal picture, its costs rose, resulting in a Q2 net loss of $162 million, up from a loss of $29 million in the prior year. That said, Opendoor forecasted Q3 sales to grow 20% year over year. Investors will be closely watching the next earnings report to see if Opendoor can deliver.
Like many housing-related stocks amid rising interest rates and a chilly real estate market, Opendoor Technologies (OPEN -3.93%) has been a broken home in 2026. Shares of the home flipper have plummeted 61% this year, down a brutal 94% from their peak coming out of the pandemic a little more than five years ago.
Opendoor is the country's largest iBuyer, offering homeowners the ability to sell their homes instantly at a market-discounted price. Opendoor's goal is to make any cost-effective repairs and remodel to sell the home at a premium.
Image source: Getty Images.
Home is where the heart is Unfortunately for Opendoor, you need hungry buyers and sellers for the iBuyer business model to work. With home sales hovering near a 30-year low and mortgage rates rising for the seventh consecutive week to hit a three-year high, this is a rough scenario for Opendoor stock.
Homeowners don't want to sell and give up their lower current mortgage rates to move somewhere else. Potential buyers are seeing rising rates diminish the value of properties they can afford.
Opendoor isn't just getting pinched on weak supply and demand. It also means struggling to flip homes profitably in the current environment. But it won't always be that way.
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Stealing home Revenue is declining sharply for the fourth consecutive year. Analysts see Opendoor turning an adjusted profit by 2028, but that also assumes revenue will more than double by then. It's a rough market, and there's a reason why the country's two largest real estate portals pulled out of the iBuyer market years ago.
Just 0.2% of homes are being sold this way, but market conditions change. In the meantime, Opendoor has spent the last few years shaving operating expenses and even making the process of acquiring a property substantially cheaper.
Opendoor has $2 billion in current liabilities and long-term debt, but more than $2.7 billion in cash and inventory. The risks are there if a turnaround in the real estate market doesn't materialize in the next couple of years, but the backyard trampoline is also there for Opendoor to jump on at the moment the climate turns in its favor. The ceiling is high, but buyers need to know the sinkhole risks.
Rick Munarriz has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Opendoor rozvíjí méně kapitálově náročný model a plánuje tržiště propojující kupující s prodávajícími. Příspěvková marže ve druhém čtvrtletí dosáhla 5,8 %.
Key Takeaways OPEN's "cash now, more later" model uses less capital per home than its traditional cash-offer product.Opendoor's Q2 contribution margin reached 5.8%, while acquisition expense fell to $3,000 from $5,000.OPEN plans a direct buyer-seller marketplace to expand transactions without purchasing every property. Opendoor Technologies Inc. (OPEN - Free Report) is developing a less capital-intensive approach to serve a larger share of housing transactions. Its “cash now, more later” offering requires less capital per home than its traditional cash-offer product, allowing acquisitions to grow without expanding the balance sheet at the same pace.
Under the newer offering, Opendoor still purchases the property, with management citing lower risk and better alignment with sellers. Capital efficiency remains important as the company rebuilds inventory, which increased by more than $700 million during the second quarter of 2026, funded largely through nonrecourse asset-backed facilities.
The next planned stage is a third-party marketplace where buyers and sellers transact directly using Opendoor’s services and tools. By facilitating transactions without acquiring each property, this model would help the company expand beyond the balance sheet constraints of its cash-offer business.
Core operations are also improving. Second-quarter contribution margin reached 5.8%, within the company’s 5-7% target range, while operations expense per acquisition declined to $3,000 from $5,000 in the preceding quarter. Opendoor reported stronger seller conversion at comparable pricing spreads, supported by improvements in pricing accuracy and operations.
Overall, the strategy offers a path toward broader housing market participation with less capital required to support growth. Opendoor remains focused on strengthening its current offering before advancing to direct buyer-seller transactions, making successful execution of this staged approach central to its expansion plans.
How OPEN’s Peers Are Expanding Their Market ReachOfferpad Solutions Inc. (OPAD - Free Report) is broadening its platform through Cash Offer Marketplace and Brokerage Services, which serve more sellers and generate fee-based revenues with little or no balance sheet capital. These offerings complement OPAD’s traditional home acquisition and resale business, providing additional ways to participate in transactions without funding every property purchase. This approach supports transaction growth while limiting incremental capital requirements of Offerpad.
Zillow Group, Inc. (ZG - Free Report) is expanding revenue opportunities through Preferred agent partnerships and products such as Follow Up Boss and Showcase. These services monetize customer connections, agent software and listing exposure. Alongside Zillow Home Loans, they contribute to an integrated experience that the company expects to generate 35% more revenue per connection than its legacy advertising model by the end of 2026. Improved conversion across Preferred agent partners and greater adoption of Zillow’s products and services are expected to drive this increase.
OPEN’s Stock Price Performance, Valuation & EstimatesShares of Opendoor have declined 69.7% in the past year compared with the industry’s 1.5% fall.
OPEN One-Year Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, OPEN trades at a forward price-to-sales (P/S) multiple of 0.32, significantly below the industry’s average of 4.39.
OPEN’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for OPEN's 2026 loss per share suggests a 42.3% year-over-year improvement. Loss per share estimates for 2026 have remained unchanged in the past 30 days.
EPS Trend of OPEN Stock
Image Source: Zacks Investment Research
Opendoor plánuje do konce roku 2026 získat hypoteční licence ve zhruba 35 až 40 státech a propojit nákup bydlení s financováním. V Coloradu má přes polovinu nadcházejících prodejů financovat prostřednictvím Opendoor Home Loans.
Key Takeaways Opendoor targets mortgage licenses in roughly 35-40 states by 2026-end as it integrates buying and financing.Colorado mortgage uptake tops half of upcoming Opendoor home sales; Texas reached nearly 20% within six weeks.Opendoor says its loan officers can handle 50 mortgages monthly versus about 10 across the industry. Opendoor Technologies Inc. (OPEN - Free Report) is expanding its home loan business, targeting mortgage licenses in roughly 35 to 40 states by 2026-end. The initiative forms part of the company’s strategy to integrate home buying and financing, simplify the purchase process and improve the economics of its housing platform.
The offering addresses financing challenges that can delay or prevent home purchases. Opendoor is incorporating lending into the buying process from the outset, with the aim of reducing friction between selecting a home and securing a loan. The company views competitive mortgage rates as a way to accelerate inventory turnover and release capital for additional home acquisitions.
Early buyer interest in Opendoor’s mortgage offering is encouraging. In Colorado, more than half of the company’s upcoming home sales are expected to be financed through Opendoor Home Loans. In Texas, the corresponding share stood at nearly 20% within six weeks of launch. This uptake precedes the planned introduction of FHA, VA and adjustable-rate loans. The company expects adoption rates to vary across markets and fluctuate as the business expands.
Operating efficiency is central to the strategy. Opendoor has developed its own mortgage point-of-sale and loan origination systems, focusing on common loan types and automating much of the process. The company stated that its loan officers can handle 50 mortgages per month, compared with approximately 10 across the industry.
Overall, Opendoor’s mortgage expansion supports its broader objectives of improving unit economics and capital efficiency. The company sees room for higher adoption as it refines the offering and introduces additional loan types. However, licensing timelines and execution remain key considerations.
OPEN’s Competitive LandscapeZillow Group, Inc. (ZG - Free Report) is expanding its mortgage business by integrating preapproval into home search, helping buyers assess affordability earlier in the purchase process. Second-quarter mortgage revenues rose 75% year over year to $84 million, supported by 95% growth in purchase loan origination volume. Zillow reported double-digit adoption of Zillow Home Loans within its integrated experience and positive per-mortgage unit economics after accounting for fixed and variable costs. According to the company, its loan officers originate roughly twice the industry average of purchase loans per month, while its existing audience supports lower customer acquisition costs. However, Zillow expects higher mortgage rates to weigh on fourth-quarter loan conversion.
Offerpad Solutions Inc. (OPAD - Free Report) is pursuing transaction growth through better home selection, pricing discipline and operating efficiency. SCOUT and HENRY are being developed to refine acquisition decisions, while Cash Offer Marketplace and Brokerage Services broaden the range of sellers it can serve and generate fee-based revenues with little or no balance sheet capital. Offerpad’s monthly contract signings increased from 129 in April to 256 in June without a meaningful increase in marketing spending. Second-quarter non-aged homes sold in approximately 82 days, ahead of its 100–120-day target. Offerpad targets roughly 1,000 quarterly transactions to reach breakeven under its current cost structure, compared with 295 in the second quarter, underscoring the importance of higher volumes to its profitability objectives.
OPEN’s Stock Price Performance, Valuation & EstimatesShares of Opendoor have declined 70.6% in the past year compared with the industry’s 1.2% fall.
OPEN One-Year Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, OPEN trades at a forward price-to-sales (P/S) multiple of 0.34, significantly below the industry’s average of 4.38.
OPEN’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for OPEN's 2026 loss per share suggests a 42.3% year-over-year improvement. Loss per share estimates for 2026 have remained unchanged in the past 30 days.
EPS Trend of OPEN Stock
Image Source: Zacks Investment Research
Opendoor očekává, že příspěvková marže ve 4. čtvrtletí 2026 překoná 3. čtvrtletí a zlomí tak svůj historický sezónní pokles. Ve 2. čtvrtletí stoupl počet akvizičních smluv na 6 908 z 5 136.
Key Takeaways Opendoor expects the Q4 2026 contribution margin to exceed Q3, reversing its post-IPO seasonal pattern.Q2 acquisition contracts rose to 6,908 from 5,136 as seller conversion improved at comparable spreads.OPEN sees Q3 margin at 4%-4.5%, with a milder seasonal decline before the expected Q4 recovery. Opendoor Technologies Inc. (OPEN - Free Report) expects the fourth-quarter 2026 contribution margin to exceed the third-quarter level, supported by improving acquisition economics and progress in clearing legacy inventory. This could reverse its historical pattern, as the fourth-quarter contribution margin has been lower than the third-quarter level every year since the company went public.
The company delivered a contribution margin of 5.8% in the second quarter, within its targeted 5-7% range. Homes listed for more than 120 days accounted for 9% of inventory, while margins on recently acquired homes were performing in line with expectations. Approximately 100 homes acquired under the earlier operating model remained, with most expected to sell during the third quarter. Completing these sales would reduce a lingering source of margin pressure ahead of the fourth quarter.
The improvement also comes as Opendoor expands acquisition activity. Second-quarter acquisition contracts reached 6,908, up from 5,136 in the first quarter. Stronger seller conversion at comparable spread levels has supported this growth without requiring the company to pay above fair value for homes. This pricing discipline is important to the margin outlook, as Opendoor seeks to increase transaction volumes while maintaining healthier unit economics.
Near-term seasonality could weigh on performance. OPEN expects the third-quarter contribution margin of approximately 4-4.5%, down from 5.8% in the second quarter, with Doma integration likely adding a temporary drag. However, the implied sequential decline of 130-180 basis points is smaller than its historical second-to-third-quarter average of 470 basis points, excluding 2023. The outlook points to a more moderate seasonal decline before the anticipated fourth-quarter recovery.
For Opendoor, the next phase of the margin recovery depends on maintaining margins on recently acquired homes and completing the expected legacy inventory sales. If healthier acquisition economics hold as volumes expand, OPEN could reverse its historical fourth-quarter decline and provide stronger evidence of the operating progress under Opendoor 2.0.
Peer Comparisons: Offerpad & ZillowOfferpad Solutions Inc. (OPAD - Free Report) provides a close comparison to OPEN because its margin recovery also depends on clearing aged inventory and accelerating home sales. Second-quarter contribution profit after interest reached $13,500 per real estate transaction, up from $5,500 in the first quarter. Fewer than 10 aged homes remained, while non-aged homes sold during the second quarter took approximately 82 days to sell, ahead of its 100-120-day target. Offerpad expects further improvement in contribution profit after interest per transaction during the second half, supported by healthier inventory and a greater mix of fee-based services.
Zillow Group, Inc. (ZG - Free Report) offers a different perspective on margin expansion, with cost discipline and improving mortgage economics supporting profitability. In the second quarter of 2026, adjusted EBITDA reached $176 million, representing a 23% margin, while third-quarter guidance implies an adjusted EBITDA margin of approximately 25% at the midpoint. Zillow expects approximately $75 million in annualized adjusted EBITDA cost savings relative to its second-quarter expense run rate. Zillow Home Loans also has positive per-loan economics after accounting for fixed and variable costs, and the company expects year-over-year adjusted EBITDA margin expansion in the fourth quarter.
OPEN’s Stock Price Performance, Valuation & EstimatesShares of Opendoor have declined 68.1% in the past year compared with the industry’s 7.1% fall.
OPEN One-Year Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, OPEN trades at a forward price-to-sales (P/S) multiple of 0.39, significantly below the industry’s average of 4.4.
OPEN’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for OPEN's 2026 loss per share suggests a 42.3% year-over-year improvement. Loss per share estimates for 2026 have remained unchanged in the past 30 days.
EPS Trend of OPEN Stock
Image Source: Zacks Investment Research
Opendoor klesá o 7 % poté, co CEO přiznal, že cesta k bodu zvratu upraveného čistého zisku se posunula o šest až osm týdnů. Firma stále čeká růst tržeb o 10 % až 15 % v tomto čtvrtletí.
Opendoor's CEO took to social media to admit something investors did not want to hear, and it landed in the worst possible week for a company that lives and dies by interest rates.
Opendoor Technologies (NASDAQ:OPEN) stock is falling 7% to $2.79 in early Thursday trading, deepening a slide that now has shares down 51% year to date. Two forces are hitting at once, and separating them is the point of today’s move. Chief Executive Kaz Nejatian conceded on X Wednesday that the company’s adjusted net income break-even timeline has slipped by six to eight weeks, and the benchmark Treasury note yield has climbed to a three-year high in the same week.
Rates matter more at Opendoor than at some other housing plays. The company buys homes onto its own balance sheet and carries them until resale, so financing costs and clearance speed compress together when yields rise. Higher long-term yields lift the interest expense on Opendoor’s inventory book and slow the pace at which homes clear at target margins.
WTI crude oil has also pushed above the hundred-dollar mark on the Iran conflict, wholesale inflation data landed in line with expectations this morning, and consumer inflation follows tomorrow. The Federal Reserve meets next week with meaningful rate-hike risk on the table, which turns Nejatian’s disclosure into a much bigger problem than it would be in a calmer rate environment.
CEO Concedes Profit Timeline Has Slipped In his Wednesday post, Nejatian stated, “There has been a lot of speculation lately about where Opendoor is on the path to ANI break-even, and I worry some folks think we are further ahead than we actually are.” He added that “We’re making lots of progress, but rebuilds are bumpy,” and said housing conditions deteriorated sharply in the final two weeks of August, with clearance slowing and delistings staying elevated. He framed the update as a recalibration of expectations while keeping the company’s underlying strategy intact.
Nejatian said Opendoor still expects revenue to climb 10% to 15% year over year in the current quarter, and the company still targets adjusted net income profitability on a twelve-month forward basis by year-end. That’s a tight window given that Opendoor’s revenue fell 44% year over year in the prior quarter, and management said Opendoor will now price to clear homes even where that pressures margins. The pivot to clearance-first pricing preserves cash and inventory freshness, yet it pushes the earnings math further out on the runway.
Housing Peers Trail by Less Offerpad Solutions (NYSE:OPAD) stock is down 2% to $3.77. Also lower is Zillow Group (NASDAQ:ZG | ZG Price Prediction) stock, sliding 3% to $31.91 as its mortgage segment faces the same rate headwind. Both iBuyer-adjacent peers are red, but by noticeably less than Opendoor, pinning the added decline on the company-specific admission on top of the sector move.
Zillow’s most recent quarter beat on the bottom line, and its mortgage revenue grew 75% on stronger purchase loan volume, giving that stock a real earnings cushion into today. Offerpad is the smallest of the three by market cap and is still working through a turnaround that hinges on lifting quarterly transactions back toward its stated 1,000 target. Both peers run capital-lighter mixes compared with Opendoor’s inventory carry model, which is why the same yield backdrop hits each name with different force.
The sector context backs that up. The iShares U.S. Home Construction ETF (CBOE:ITB) is down 2%, capturing pure rate pressure on homebuilders because the fund doesn’t hold Opendoor. Meanwhile, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down 0.69%, so the housing corner is under real pressure and Opendoor sits at the sharpest end of it.
What to Watch Tomorrow’s consumer inflation data and next week’s Fed meeting are the next scheduled catalysts for rate-sensitive housing names. Investors can watch for whether Opendoor holds the stated 10% to 15% revenue growth guide against the softer late-August housing conditions Nejatian described. A hawkish outcome from the Fed would keep yield pressure on Opendoor’s carry model even if the top line lands in range.
Given the stock’s high beta and the compressed cushion in its balance-sheet model, sizing your exposure conservatively fits the setup heading into that catalyst window, the same fence-off-your-fun-money discipline we laid out in a free speculation playbook. The bull case rests on genuine inventory-quality improvement and an operating machine that can grind toward break-even without a housing recovery. Every additional week of elevated yields extends that timeline again, and Wednesday’s post pushed it out with Opendoor’s own words.
Contact [email protected] for any questions or corrections.
Opendoor Home Loans ukončil beta provoz a nabízí 30-, 20- a 15leté fixní hypotéky i 5/6, 7/6 a 10/6 hypotéky s pohyblivou sazbou. Služba je dostupná na licencovaných trzích pro jakýkoli nákup nemovitosti.
Opendoor Home Loans now offers 30-, 20-, and 15-year fixed-rate mortgages, plus 5/6, 7/6, 10/6 adjustable-rate mortgages for any home purchase in markets where Opendoor Home Loans is licensed. | Source: Opendoor Technologies Inc.
SAN FRANCISCO, Sept. 04, 2026 (GLOBE NEWSWIRE) -- Opendoor (NASDAQ: OPEN), the e-commerce platform for residential real estate, today announced that Opendoor Home Loans has exited beta and now offers 30-, 20-, and 15-year fixed-rate mortgages, plus 5/6, 7/6, and 10/6 adjustable-rate mortgages.
The announcement comes as mortgage rates move higher. Freddie Mac’s weekly survey reached 6.71% for a 30-year fixed mortgage and 6.04% for a 15-year fixed mortgage on September 3, with the 30-year average at its highest level in 13 months.
For homebuyers, when financing gets more expensive, the rate matters. So do lender fees, paperwork, delays, and the back-and-forth required to keep the home purchase and mortgage on track. When those processes are handled in separate systems, each question or document can create another delay. Opendoor built its mortgage experience around the homebuying process, with software handling more of the repeatable work in one place.
“Buying a home is two things: the home and the money,” said Kaz Nejatian, Chief Executive Officer of Opendoor. “They’re handled by separate systems, with separate incentives and too much avoidable cost. We built Opendoor Home Loans for the way most people buy a home. We can’t control the market rate, but we can control the cost and friction around it. The pork-barrel buffet around mortgage costs has to end.”
Opendoor Home Loans lets buyers handle more of the process online, with access to licensed mortgage professionals when they need help. The current experience includes:
Prequalification in minutes without a hard credit pull.A digital application with online income and asset verification.Online document verification, with fewer handoffs through closing.
Opendoor Home Loans is available for any home purchase in markets where it is licensed, not just for purchases of Opendoor homes. Eligibility, rates, terms, and availability vary by borrower, property, loan amount, loan-to-value ratio, credit profile, state, and other factors.
Buyers can learn more at opendoor.com/mortgage.
About Opendoor
Opendoor exists to tilt the world in favor of homeowners by making homeownership simpler, faster, and fairer for everyone. Since 2014, Opendoor has given people a more convenient, more certain way to buy and sell a home, whether they already own or are working hard to become homeowners. Opendoor currently operates in markets across the U.S. For more information, please visit www.opendoor.com.
Mortgage disclosure
Opendoor Home Loans LLC. NMLS ID #2810193. Verify our license at NMLS Consumer Access. All mortgage lending products and information provided by Opendoor Home Loans LLC.
This is not a commitment to lend. All loans are subject to credit approval, underwriting, and property approval. Programs, rates, terms, and conditions are subject to change without notice.
OPEN cílí na vyrovnaný upravený čistý zisk do konce roku 2026 při ročním tempu výnosů kolem 9 miliard USD. Ve 2. čtvrtletí dosáhla marže příspěvku 5,8 % a náklad na akvizici klesl na 3 000 USD.
Key Takeaways OPEN targets ANI breakeven by end-2026, based on 6,000 quarterly transactions and a $9B run rate.Contribution margin hit 5.8% as operating expense per acquisition fell to $3,000 in the second quarter.OPEN expects third-quarter contribution margin to moderate to 4-4.5% due to seasonality and Doma integration. Opendoor Technologies Inc. (OPEN - Free Report) has outlined a quantitative framework for reaching adjusted net income (ANI) breakeven on a 12-month go-forward basis by the end of 2026. The framework assumes roughly 6,000 quarterly transactions at $375,000 each, implying an annualized revenue run rate of approximately $9 billion.
Acquisition activity is moving toward the scale required by this model. OPEN generated 6,908 acquisition contracts in the second quarter, up from 5,136 in the first quarter. The company is also signing more than 500 contracts per week, with one recent week reaching roughly 700 — its highest weekly total in years. Still, contract volume does not translate directly into reported revenues. Some agreements will not close, while acquired homes generally progress through renovation, listing and resale before revenues are recognized.
Improving unit economics provides another important component of the profitability framework. Contribution margin reached 5.8% in the second quarter, within OPEN’s targeted 5-7% range. Operations expense per acquisition declined to $3,000 from $5,000 in the first quarter and $8,400 a year earlier. OPEN’s illustrative framework assumes that marketing, variable operations and fixed operating costs would represent a combined 2.9% of acquisition GMV. Based on the current dollar cost structure, these expenses would equal approximately 2.4% of revenues at a $9 billion run rate, below the 3-4% range previously associated with ANI profitability.
Still, maintaining these economics as volume expands will be critical. OPEN expects contribution margin to moderate to 4-4.5% in the third quarter because of seasonality and the temporary impact of the Doma integration. Net interest expense also remains slightly above 2% of revenues, increasing the importance of resale velocity and inventory discipline.
OPEN’s Breakeven Path Versus Zillow and OfferpadZillow Group, Inc. (ZG - Free Report) provides an adjusted-earnings benchmark, although its digital marketplace is less capital intensive than OPEN’s inventory-based iBuying model. Zillow reported second-quarter adjusted net income of $118 million and adjusted EBITDA of $176 million, translating into an adjusted EBITDA margin of 23%. Zillow also noted that Zillow Home Loans now generates positive unit economics across fixed and variable costs, highlighting the operating leverage available from integrated real estate services.
Offerpad Solutions Inc. (OPAD - Free Report) offers a more direct iBuying comparison. The company generated approximately $78 million in revenues from 295 real estate transactions and recorded an adjusted EBITDA loss of $6.2 million. Offerpad’s contribution profit after interest reached $13,500 per transaction. The company targets exiting 2026 at a run rate of roughly 1,000 quarterly transactions and attaining positive adjusted EBITDA on a year-end run-rate basis. Although Offerpad’s adjusted EBITDA objective is not directly comparable with OPEN’s adjusted net income target, both companies depend on transaction scale, resale velocity and disciplined inventory economics.
Taken together, OPEN’s higher contract activity, improved unit economics and lower operating expense per acquisition likely strengthen its prospects of reaching adjusted net income breakeven on a 12-month go-forward basis by year-end 2026.
OPEN’s Stock Price Performance, Valuation & EstimatesShares of Opendoor have declined 20.1% in the past year compared with the industry’s 13.7% fall.
OPEN One-Year Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, OPEN trades at a forward price-to-sales (P/S) multiple of 0.52, significantly below the industry’s average of 3.97.
OPEN’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for OPEN's 2026 loss per share suggests a 42.3% year-over-year improvement. Loss per share estimates for 2026 have widened in the past 30 days.
EPS Trend of OPEN Stock
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Zillow ve 2. čtvrtletí zvýšil tržby o 18 % na 772 mil. USD, tažený růstem Rentals o 31 % a Mortgages o 75 %. Tržby Opendooru naopak meziročně klesly o 43,7 % na 883 mil. USD.
Key Takeaways Zillow's Q2 revenues rose 18%, led by 31% growth in Rentals and a 75% surge in Mortgage revenues.Opendoor's Q2 revenues fell 43.7% to $883M as housing weakness constrained acquisition and resale activity.ZG's 9.85% ROE exceeds OPEN's negative average, highlighting stronger shareholder returns. Real estate technology companies Opendoor Technologies Inc. (OPEN - Free Report) and Zillow Group, Inc. (ZG - Free Report) are currently operating in a rocky housing market. With the 30-year fixed mortgage rate hovering above 6% since March 2026, per Freddie Mac, the residential market in the United States is experiencing muted demand as homebuyers are staying away from homeownership.
Nonetheless, these two housing-tech companies are undergoing several initiatives to keep up their profitability and revenue streams.
Opendoor operates a technology-driven residential real estate platform that simplifies home buying and selling by purchasing homes directly from sellers, renovating and reselling them, while using AI to automate pricing, underwriting and operations. Meanwhile, Zillow operates a digital residential real estate marketplace and increasingly an end-to-end real estate transaction platform, connecting buyers, sellers, renters and agents while monetizing through agent partnerships, mortgage lending, rentals, listing products and professional software.
Let’s closely compare the fundamentals of the two real estate stocks for a better investment decision.
The Case for Opendoor StockOpendoor is operating against a difficult U.S. housing backdrop, with elevated mortgage rates, affordability pressures and weak transaction volumes limiting housing market activity. Existing home sales remain near a 30-year low of around 4 million units annually, roughly 20% below the pre-pandemic decade average. Home prices were broadly flat year over year as of June 2026, while seller-buyer disconnect remained evident, with delistings at record levels. These conditions can constrain both acquisition and resale activity, potentially extending inventory holding periods and pressuring margins. Opendoor’s second-quarter 2026 revenues fell 43.7% year over year to $883 million.
Opendoor’s ambitious turnaround depends heavily on successfully scaling AI, mortgage, new transaction models and other technology initiatives. While AI is improving underwriting and operational productivity, the company is increasing fixed operating expenses to fund engineering and AI investments. Cash also declined as OPEN deployed more than $700 million to rebuild inventory, leaving the business exposed to financing and housing-market risks. Its mortgage product remains relatively early-stage, with licensing still progressing across states and management acknowledging that it has more work to do despite strong early adoption. The planned transition toward capital-light 2P and marketplace-based 3P transactions also remains unproven.
OPEN’s second-quarter 2026 net loss also widened to $162 million from $29 million a year earlier. The company’s third-quarter 2026 outlook anticipates contribution margin falling to 4-4.5% amid seasonal weakness, with a prolonged housing slowdown remaining a key overhang on sustainable growth and profitability. Management described the current market as the weakest housing market in a generation, creating uncertainty around future homebuyer and seller demand.
However, Opendoor is broadening its service platform through acquisitions and strategic partnerships, potentially creating additional revenue opportunities beyond buying and selling homes. It completed its acquisition of Doma’s closing and escrow operations in July 2026, strengthening its ability to provide a more integrated real estate transaction experience. Besides, OPEN is demonstrating meaningful progress in controlling costs while improving its unit economics. The combination of higher volumes, lower variable costs and faster inventory turnover provides a stronger foundation for Opendoor’s targeted adjusted net income profitability by year-end 2026.
The Case for Zillow StockZillow is successfully reducing its dependence on housing transaction volumes by expanding Rentals, Mortgages and agent-focused services. Its second-quarter 2026 revenues rose 18% year over year to $772 million, while Rentals revenues climbed 31% and Mortgages revenues surged 75%. The company’s shift toward the Preferred agent model is also increasing revenue per connection. Zillow is expanding its rental reach through Google Gemini’s connected apps ecosystem. Meanwhile, the company is integrating mortgage pre-approval, agent services and transaction tools into its platform. This end-to-end strategy allows ZG to capture revenues across multiple stages of the housing journey, helping sustain mid-teens growth despite an uncertain housing environment.
Besides, Zillow is using AI mode to make its platform more personalized and increase consumer engagement. AI users spend more than three times longer on ZG, view more than twice as many homes and contact agents at nearly three times the rate of non-AI users. The company is also integrating AI into agent tools through Follow Up Boss and Likely to List. By connecting search, financing, agents and transactions, Zillow aims to increase monetization even when overall housing-market activity remains subdued.
However, higher mortgage rates and affordability pressures are increasingly weighing on purchase activity. Zillow expects industry purchase mortgage originations to decline low- to mid-single digits for the remainder of 2026 compared with its previous expectation of flat growth. The company expects third-quarter 2026 For Sale revenue growth of only 5-7% year over year, while Residential revenues are expected to remain flat. ZG’s diversified model provides some protection, but a prolonged housing slowdown could constrain lead volumes, agent connections and mortgage originations.
Despite Zillow’s market-share gains, average monthly unique users fell 2% year over year to 239 million, while visits declined 2% to 2.5 billion. Higher lead acquisition and mortgage processing costs also pressured expenses, while second-quarter 2026 results showed a $4 million net loss. Zillow is simultaneously restructuring its workforce to improve efficiency. Although AI, Rentals and integrated transactions offer growth avenues, execution risks, higher costs, mortgage volatility and regulatory/legal pressures could challenge profitability if housing conditions deteriorate further.
Stock Performance & ValuationAs witnessed from the chart below, over the past three months, the share price performance of Zillow has been above Opendoor’s performance and the Computer and Technology sector, even though they all reflect declining trends.
Image Source: Zacks Investment Research
Considering valuation, over the last five years, Zillow has been trading above Opendoor on a forward 12-month price-to-sales (P/S) ratio basis.
Image Source: Zacks Investment Research
Overall, from these technical indicators, it can be deduced that ZG stock offers a diminishing growth trend but with a premium valuation, while OPEN stock offers a declining growth trend with a discounted valuation.
Comparing EPS Estimate Trends: OPEN vs. ZGThe Zacks Consensus Estimate for OPEN’s 2026 and 2027 bottom line indicates a loss per share. Over the past 30 days, the loss per share has widened to 15 cents and three cents, respectively. Nonetheless, the estimated figures for 2026 and 2027 indicate year-over-year growth of 42.3% and 82.2%, respectively.
OPEN's EPS Trend
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for ZG’s 2026 and 2027 earnings has trickled down in the past 30 days to $2.22 and $2.69 per share, respectively. However, the estimates for 2026 and 2027 imply year-over-year improvements of 35.4% and 21.3%, respectively.
ZG's EPS Trend
Image Source: Zacks Investment Research
Return on Equity (ROE) of OPEN & ZG StocksZillow’s trailing 12-month ROE of 9.85% significantly exceeds Opendoor’s negative average, underscoring its efficiency in generating shareholder returns.
Image Source: Zacks Investment Research
Should Investors Choose ZG Stock or OPEN Stock?Zillow’s growth is being led by strong growth in Rentals and Mortgages, helping reduce its dependence on housing transaction volumes. Its AI-powered search, Preferred agent model and integrated mortgage and transaction offerings could further expand monetization as housing activity remains subdued. Yet, the company is not without risks. Falling user engagement, higher costs, mortgage-market weakness and downward earnings-estimate revisions could limit near-term upside. Its premium valuation also leaves less room for disappointment.
In contrast, Opendoor remains more exposed to home-price trends, transaction volumes and inventory financing. Although AI-driven underwriting, capital-light transaction models, mortgage expansion and the Doma acquisition could improve long-term economics, these initiatives still carry considerable execution risk.
Still, Zillow’s positive ROE, diversified revenue streams and stronger operating resilience outweigh Opendoor’s discounted valuation and turnaround potential. With ZG stock carrying a Zacks Rank #3 (Hold) compared with OPEN’s Zacks Rank #4 (Sell), Zillow stock appears to be the better choice for investors seeking relatively lower housing-market risk and more sustainable revenue growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Opendoor si vzala 0% konvertibilní dluhopisy splatné v roce 2030 za 650 milionů USD a z nich za 158 milionů USD odkoupí asi 5 % vlastních akcií. Firma zároveň dál hlásí ztrátu a klesající tržby.
A brutally frozen housing market has taken a toll on the stock prices of many different businesses. Homebuilders, makers of construction supplies, and real estate brokerages are all in the doldrums. One previously hot stock trying to turn things around amid this headwind is Opendoor Technologies (OPEN -3.07%).
The iBuying platform operator got a new CEO last year and recently announced it had taken out convertible debt to raise funds to repurchase 5% of its outstanding stock. Despite these headlines, its shares continue to fall due to the pain in the housing market and the business's inability to generate a profit.
Here's what the transaction means for the company, and whether Opendoor stock looks like a good value right now.
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Financial engineering, but at what cost? Convertible notes are bonds with low interest rates -- sometimes as low as zero percent. But investors in said bonds can convert them into newly issued shares of stock at a certain price, which is a good deal if the stock is trading above that level.
Opendoor just took out 0% 2030 convertible notes -- meaning they are due in 2030 -- worth $650 million. It is using $158 million of this capital to repurchase around 5% of its common stock, as announced in a press release. The convertible price for these bonds is just $4.71, which is about a 32% premium versus Wednesday's closing share price of $3.58.
To offset potential dilution, Opendoor bought capped calls, which artificially inflate the conversion price. In this case, the new converted price is $6.98, below which no shareholder dilution will occur.
While management may proclaim that this is a bond with no upfront costs, the actual cost to shareholders will be borne in these capped-call transactions (a direct cash cost at the time of bond issuance), and in potential dilution years down the line. Bondholders could see significant gains if the stock price rises from here, which existing shareholders will pay for through new share issuance. Otherwise, Opendoor will be forced to repay the principal in cash.
Image source: Getty Images.
A business model in need of repair Financial engineering can create value for shareholders, provided a business is doing well. Opendoor is on a shaky financial footing.
Last quarter, revenue fell by nearly half year over year to $883 million. With slim gross margins on the iBuying business, its gross profit was just $86 million. The business model is to buy homes directly from consumers and resell them, which comes with low gross margins and requires stuffing existing inventory on the balance sheet, sometimes funded with debt.
Existing home sales in the United States are down to around 4 million a year, as compared to over 5 million a year prior to the COVID-19 pandemic. Opendoor has failed to gain market share with its iBuying strategy, which has been a double-edged sword amid this macroeconomic environment. The company posted a net loss of $162 million last quarter, and it has never generated a profit.
OPEN Gross Profit (TTM) data by YCharts.
Should you buy Opendoor stock? Management taking out a nifty convertible bond does not change anything about Opendoor's failed business model. The company is trying to pivot to new business strategies, such as automated pricing and offering new services to homebuyers and sellers, but it is failing to generate interest at the moment.
A frozen housing market is going to make it difficult for even the best businesses in the sector, let alone one that has never generated a profit. Right now, Opendoor's market cap of $3.25 billion is more than 10 times its trailing gross profit generation. (We cannot value Opendoor relative to its earnings since it has none.) Gross profits have been declining for many quarters.
Add everything up, and this repurchase authorization fueled by debt is likely a bad sign for the company, not a good one. Avoid buying the dip on Opendoor stock.
Opendoor má za posledních 12 měsíců tržby 3,2 miliardy USD, ale ve čtvrtletí vykázal čistou ztrátu 162 milionů USD. Obchodování s bydlením v USA zůstává zamrzlé.
Last year, Opendoor (OPEN -5.08%) had a new CEO, Kaz Nejatian, take the helm, promising a massive turnaround for the struggling pandemic-era real estate technology company. The stock price rose from under $1 to $10 in a year, with investors betting that the pain was finally over.
Today, shares are back down to $3.50. The financial results for the real estate buying platform continue to deteriorate, with housing market activity frozen shut in the United States.
Here's what Opendoor's future may look like, and whether the stock looks cheap again, down 90% from 2021 highs, as a bet on an eventual reversion to the mean in homebuying activity.
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A struggling turnaround When joining Opendoor, Nejatian wanted to reinvigorate the business by becoming leaner on costs and adding new features for real estate buyers and sellers on its platform. Historically, Opendoor's business model has been to buy and sell homes directly, which has proved tough to finance as a start-up trying to hold more and more inventory on its balance sheet.
This business model broke down amid the rising interest-rate environment of 2022, which drove many transactions out of the U.S. housing market. Opendoor's revenue has steadily declined from its peak, reaching $3.2 billion over the last 12 months, down from over $15 billion at one point in 2021.
Nejatian wants to scale up home acquisitions again, but more efficiently. Last quarter, Opendoor had 6,900 acquisition contracts but spent just $5 million on marketing. That compares to a similar level of acquisitions back in Q2 2022, when Opendoor spent $81 million on marketing.
At the same time, Nejatian wants to turn over homes more quickly, reducing the time this inventory sits on the balance sheet. Opendoor is making progress in this regard, with the percentage of homes on the market at over 120 days down to 9% last quarter, compared to 10% a year prior.
Image source: Getty Images.
Should you buy Opendoor stock? Despite efforts to improve the core business model and layer on new products, such as automated pricing and mortgage lending through Opendoor, the business remains in rough financial shape.
Last quarter, Opendoor had a net loss of $162 million. It has never generated positive profitability, no matter how hot or cold the U.S. housing market is. Right now, the housing market is ice cold when it comes to transactions, and Opendoor and its investors are betting that an eventual turnaround will finally lead to profitability.
Investors should not automatically expect the housing market to return to the level it was at during the COVID-19 pandemic. We may be in a new environment of higher interest rates and an aging population that lessens the importance of this sector. And Opendoor operated in a hot housing environment a few years ago, and it still could not generate a profit. For these reasons, investors should stay far away from this stock.
Opendoor hlásí kolem 700 týdenních kupních smluv, nejvíc za roky, a ve 2. čtvrtletí zvýšil počet akvizičních smluv na 6 908. Marketingové výdaje přitom klesly na 5 milionů USD.
Key Takeaways Opendoor reached about 700 weekly purchase contracts, its strongest tally in years.Second-quarter acquisition contracts rose to 6,908 as marketing spending fell to just $5 million.OPEN expects a 4%-4.5% contribution margin as seasonal pressure remains. Opendoor Technologies Inc. (OPEN - Free Report) is showing a sharp pickup in acquisition activity even as the broader housing market remains challenging. On its second-quarter 2026 earnings call, management said the company is signing more than 500 home purchase contracts per week, with the prior week reaching around 700, its strongest weekly tally in years and more than five times the level seen a year ago.
The weekly numbers build on a strong second quarter. Opendoor generated 6,908 acquisition contracts, up from 5,136 in the first quarter. Homes purchased rose 77% sequentially and 149% year over year to 4,378, while the company ended the quarter with 2,310 homes under contract to purchase, compared with 393 a year earlier. More importantly, the higher volume came with far lower marketing spending. Opendoor spent just $5 million on marketing while producing more than 6,900 acquisition contracts. Management also said seller conversion improved significantly at comparable spreads, suggesting the company is not simply buying higher volume by taking on more pricing risk.
Seasonality remains a hurdle. Historically, Opendoor’s contribution margin has fallen sharply between the second and third quarters, with the average decline approaching 500 basis points excluding 2023. For third-quarter 2026, management expects a contribution margin of about 4%-4.5%, while revenues are expected to grow at least 20% year over year and contribution profit to more than double.
For now, the roughly 700-contract week suggests Opendoor’s turnaround is gaining operating momentum despite a difficult housing market. Still, acquisition contracts do not all translate into completed purchases. If volumes remain above the roughly 6,000-per-quarter level in management’s profitability framework while conversion, margins and cost discipline hold, the acceleration could become an important bridge from turnaround to sustained profitability.
Opendoor’s Competitive Landscape: Compass & RocketOpendoor’s accelerating contract volume comes as other real estate technology players are also emphasizing scale, conversion and operating efficiency. Compass, Inc. (COMP - Free Report) is pursuing a brokerage-led platform strategy rather than principal home buying. In the second quarter of 2026, Compass generated $4.3 billion in revenues and $363 million in adjusted EBITDA, while brokerage transactions rose 7.4% year over year versus 3.5% for the broader market. It also actioned its $300 million first-year cost-synergy target five months early.
Rocket Companies, Inc. (RKT - Free Report) offers another increasingly relevant comparison as it builds a broader homeownership ecosystem around mortgage origination, servicing and Redfin. Rocket posted $2.8 billion in adjusted revenues and $766 million in adjusted EBITDA in the second quarter of 2026, while purchase market share rose to a record 6.2% and refinance share reached 14.3%. More than 70% of revenues now come from recurring or less rate-sensitive businesses, helping reduce dependence on mortgage-rate cycles.
Overall, Opendoor currently stands out for combining faster contract growth with sharply lower marketing intensity.
OPEN’s Stock Price Performance, Valuation & EstimatesShares of Opendoor have lost 23.9% in the past six months, underperforming the Zacks Internet - Software industry, the broader Zacks Computer and Technology sector and the S&P 500 Index.
OPEN’s Six-Month Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, OPEN stock trades at a forward price-to-sales (P/S) multiple of 0.54, significantly below the industry’s average of 4.08.
P/S (F12M)
Image Source: Zacks Investment Research
OPEN’s estimates for 2026 indicate a loss of 12 cents per share, while those for 2027 point to earnings. Over the past 30 days, the 2026 estimates have remained unchanged, whereas those for 2027 have moved from breakeven to earnings of 1 cent per share.
CEO společnosti Opendoor Kasra Nejatian koupil 27 625 akcií za zhruba 100 000 USD, čímž posílil už tak obří podíl. Nákup signalizuje důvěru v další vývoj akcií OPEN.
Kasra Nejatian, Chief Executive Officer of Opendoor Technologies Inc. (OPEN -0.27%), purchased 27,625 shares of common stock on August 14, 2026, as disclosed in a recent SEC Form 4 filing.
Transaction summaryMetricValueShares purchased (directly held)27,625Transaction value~$100,000Post-transaction shares (directly held)83,605,924Post-transaction value$304.33 millionTransaction value based on SEC Form 4 weighted average purchase price ($3.62); post-transaction value based on August 14, 2026 market close ($3.64).
Key questionsHow does this purchase affect the CEO's overall equity exposure?
The acquisition marginally expands a substantial core position of 83,605,924 shares, which currently represents a market value of $304.33 million based on the August 14, 2026 market close.What was the execution price relative to recent market activity?
The shares were purchased at a weighted average price of $3.62, compared to a closing price of $3.65 as of the August 13, 2026 market close.What is the fundamental profile of the company at the time of this trade?
Opendoor operates with a market capitalization of $3.5 billion and reports trailing-twelve-month revenue of $3.3 billion, though it remains in a net loss position of $1.5 billion over the same period.Company OverviewMetricValueShare Price (as of market close 2026-08-13)$3.65Market Capitalization$3.5 billionRevenue (TTM)$3.3 billionNet Income (TTM)-$1.5 billionCompany SnapshotOpendoor operates a digital ecosystem enabling residential real estate transactions entirely online, generating revenue through home sales facilitation, title insurance services, and escrow offerings across the United States.The company's business model centers on providing an efficient, technology-driven alternative to traditional real estate transactions, capturing value through transaction volumes and ancillary service offerings.Opendoor primarily serves individual homebuyers and sellers seeking streamlined, digital-first residential real estate solutions, targeting consumers who value convenience and transparency in property transactions.Opendoor Technologies operates at significant scale with $3.3 billion in trailing 12-month revenue, positioning itself as a transformative force in residential real estate through its fully digital transaction platform. The company's competitive advantage lies in its technology infrastructure and operational efficiency, which enable customers to complete home purchases and sales online without traditional intermediaries.
Despite current net losses of $1.5 billion in the trailing 12 months, the company continues to expand its market presence and ancillary service offerings to drive profitability and shareholder value.
What this transaction means for investorsThe Aug. 14 purchase of Opendoor Technologies shares by CEO Kasra Nejatian suggests he is bullish about the stock's outlook. He certainly didn't need to buy more, given he directly held over 80 million shares before this transaction.
At the time he acquired more Opendoor stock for a weighted average price of $3.62, shares were not far from the 52-week low of $3.06 reached last year. This indicates Nejatian believes Opendoor is a buy at this level.
While Opendoor managed to gain about 20% over the past 12 months, the stock is down substantially from its 52-week high of $10.87. The cause is a sluggish housing market impacted by elevated mortgage rates, combined with the company's uninspiring business performance.
In the second quarter, Opendoor reported revenue of $883 million, a significant decline from 2025's $1.6 billion. Moreover, the company's costs increased, resulting in a Q2 net loss of $162 million, up from a loss of $29 million in the prior year. That said, Opendoor forecasted Q3 sales to see a 20% year-over-year increase.
Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Opendoor Technologies oznámila kapitálovou restrukturalizaci včetně emise 0% konvertibilních seniorních dluhopisů se splatností v roce 2030 za 650 milionů USD a zpětného odkupu akcií za 158 milionů USD. Akcie OPEN v premarketu klesaly o 5,73 % na 3,29 USD.
Opendoor Technologies Inc. (NASDAQ:OPEN) shares are dropping Thursday morning as the market digests news of a major capital structure overhaul.
The residential real estate platform unveiled a series of financing strategy featuring debt issuance, equity repurchases, and derivative instruments aimed at fueling business expansion.
Opendoor Technologies stock is among today’s weakest performers. Why is OPEN stock falling? Capital Structure TransactionsThe company announced a private offering of $650 million in 0% Convertible Senior Notes due 2030. From the proceeds, Opendoor allocated approximately $158 million to buy back 45.3 million shares of common stock at $3.49 per share, marking the first share repurchase program in its corporate history.
An additional $52.5 million was deployed into capped call transactions designed to mitigate prospective equity dilution. Ultimately, the initiatives will inject roughly $440 million of net proceeds into Opendoor’s balance sheet to expand home inventory and market coverage.
Dilution Protections and Expected SharesThe integrated arrangement ensures no net share creation occurs until Opendoor’s stock price crosses $10.38 per share, assuming principal amounts are settled in cash.
Capped call transactions safeguard against dilution up to $6.98 per share, while the repurchased shares neutralize conversion impact up to the $10.38 threshold. Beyond $20.00 per share, net dilution is expected to stay below 5%.
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Management CommentaryExecutive leadership emphasized capital efficiency and long-term shareholder alignment. CEO Kaz Nejatian noted that capital must generate value for shareholders rather than burden them, pointing out that financing methods are just as critical as growth goals.
He emphasized that the added funding offers capacity to accelerate acquisitions while preserving the disciplined approach required to achieve sustained profitability.
OPEN Shares Slide Thursday MorningOPEN Price Action: Opendoor Technologies shares were down 5.73% at $3.29 during premarket trading on Thursday, according to Benzinga Pro data.
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Opendoor Technologies klesl po zveřejnění výsledků za 2. čtvrtletí, když tržby klesly na 883 milionů USD z 1,57 miliardy USD a upravená EBITDA se změnila ve ztrátu 4 miliony USD.
Opendoor Technologies (OPEN -8.74%) stock fell 8.5% on Wednesday while the S&P 500 and the Nasdaq Composite were down 0.2% and 0.9%, respectively.
Opendoor, the digital home-buying company, slid following its second-quarter earnings, which landed after Tuesday's close. The report showed revenue and profits well below where they were a year ago.
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Revenue and home sales fell sharply year over year Revenue for the company's Q2 came in at $883 million, down heavily from $1.57 billion in the same quarter last year, when the company sold 4,299 homes. It sold just 2,339 homes this quarter.
Adjusted earnings before interest taxed depreciation, and amortization (EBITDA) -- a rough measure of operating profitability -- swung to a $4 million loss from a $23 million profit a year ago.
Image source: Getty Images.
New leadership is aggressively rebuilding inventory This was driven by a decision by the company's previous leadership to buy far fewer homes, leaving Opendoor with fewer homes to sell. It's now taking a different tack. The company bought 4,378 homes in the quarter, up from 1,757 a year ago, and signed 6,908 contracts to buy more, the most since the second quarter of 2022.
Can Opendoor finally turn a profit? Management expects its recent strategy shift to start bearing fruit soon, with CEO Kaz Nejatian saying the company is "now on a clear path to sustained ANI profitability."
While I do expect the numbers to improve moving forward, I'm skeptical of the company turning an actual GAAP profit, which it's never done. And with the chance of interest rate hikes in the near future, this is not a stock I would own.
Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Opendoor před dnešními hospodářskými výsledky za 2. čtvrtletí roste o 5,84 % na 4,17 USD. Analytici očekávají ztrátu 7 centů na akcii při tržbách 666,54 milionu USD.
Opendoor Technologies shares are powering higher. Why is OPEN stock up today? Opendoor Steps Into Q2 Earnings With a Profitability Milestone in ReachThe Street is looking for a loss of 7 cents per share against revenue of $666.54 million when the company reports after the bell, figures that would represent a meaningful step forward from where the business stood three months ago.
Opendoor Guidance: What Management Set Up in Q2When first-quarter results were released in May, management projected roughly 25% sequential revenue growth for the second quarter, a target that would land the outcome close to the current consensus. Equally important, the company projected adjusted EBITDA would reach breakeven territory for the quarter, a level that would mark the first time in recent memory Opendoor has achieved that threshold on a quarterly basis.
CEO Kaz Nejatian had said the company expects to sustain adjusted EBITDA profitability on a rolling 12-month basis beginning with the second quarter, a commitment that investors have likely been watching closely.
The first quarter provided a credible platform for those expectations. Revenue of $720 million came with a gross margin of 10%, a meaningful improvement from the 8.6% recorded in the comparable period a year earlier. Acquisition contracts crossed 5,000 during the quarter, twice the volume from the fourth quarter and the strongest showing since 2022, while the number of homes purchased expanded 45% from the prior period.
The Chart Says "Bounce," The Trend Says "Prove It"OPEN is trying to rebound, but it is doing so from a technically weak position. The stock is still below all major moving averages: 3% under the 20‑day, 7.6% under the 50‑day, 11.8% under the 100‑day and 24.5% under the 200‑day. Until it can reclaim the 50‑day area and hold it, any strength looks more like a short‑term pop than a real trend change.
RSI at 47.85 is neutral, which fits a stock trying to stabilize rather than break out. The moving‑average structure still leans bearish with the 20‑day below the 50‑day and the March death cross shaping the broader trend.
Key resistance: $4.51 — This is the first test for any rebound because it aligns with the 50‑day zone where sellers have stepped in before. Key support: $4.18 — This is the nearest floor buyers have defended. If it breaks, momentum can fade quickly in a stock that still needs to rebuild technical credibility. OPEN Shares Are Moving HigherOPEN Price Action: Opendoor shares were up 5.84% at $4.17 at the time of publication on Tuesday, according to Benzinga Pro.
Image: Around-the-World-Photos/Shutterstock
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Zillow vykázal ve čtvrtletí čistý zisk 46 milionů USD a tržby 708 milionů USD, zatímco Opendoor vykázal ztrátu 173 milionů USD. Zillow těží z lehkého modelu, Opendoor dál pálí hotovost při nákupu a prodeji domů.
Zillow (NASDAQ: ZG | ZG Price Prediction) posted $46 million in net income last quarter while Opendoor Technologies (NASDAQ: OPEN) lost $173 million. Zillow runs a digital tollbooth on home search traffic. Opendoor buys houses with cash, holds them, and hopes to resell fast.
Ad Dollars Flow In. Inventory Sits on the Books. Zillow’s $708 million in Q1 revenue grew 18.4% year over year, powered by three engines that never touch a deed. Rentals climbed 42% as multifamily listings scaled to 76,000 properties. Mortgage revenue jumped 56%, with purchase loan originations up 96% to $1.5 billion. CEO Jeremy Wacksman told investors the platform is “embedding AI throughout the real estate experience in ways that make Zillow increasingly indispensable.” Believable, given 220 million monthly unique users keep showing up.
Opendoor’s story hinges on operations. Revenue fell 38% to $720 million as homes sold dropped to 1,921 units. Yet new CEO Kaz Nejatian argues the machine is finally tuned: aged inventory over 120 days collapsed from 51% to 10%, and acquisition contracts topped 5,000, the highest since 2022. Gross margin nudged up to 10.0%. Progress, but the operating cash burn hit negative $246 million.
A Tollbooth Versus a Warehouse Lens Zillow Opendoor Core Bet SaaS agent tools, rentals, mortgage leads Buying and reselling homes for cash Balance Sheet Exposure Minimal; ad marketplace Heavy inventory plus $193M current convertibles Q1 Profitability $182M adjusted EBITDA $49M adjusted net loss Zillow’s 73.3% gross margin lets management repurchase stock aggressively: 13.5 million shares bought for $626 million in the quarter. Opendoor, meanwhile, took a $105 million RSU charge tied to Nejatian’s arrival. Different worlds.
What Decides the Second Half Housing itself remains soft. Existing home sales sit at 4.17 million annualized, and housing starts just fell 15.4% month over month. I will be watching whether Zillow’s Enhanced Markets, now 49% of connections, keep pushing agent monetization higher. For Opendoor, the tell is whether Q2 hits adjusted EBITDA breakeven and whether the 5% to 7% contribution margin range holds when cohorts mature.
Why I Lean Toward Zillow, With Eyes Open Personally, I favor Zillow here. A capital-light platform compounding mid-teens revenue growth with real cash generation is easier to underwrite than a house-flipper still burning cash. The stock is down 54.2% over the past year, which stings, yet the FTC trial and legal headwinds feel priced in at a 14 forward P/E. Opendoor is a genuine turnaround story, and its 795.68% one-year rally shows what happens when a busted stock finds a pulse. But I want more quarters of proof before betting on the warehouse over the tollbooth. If you like variance and believe Nejatian’s cohort math, Opendoor fits. If you prefer durable margins, Zillow is the cleaner read.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Zillow didn't make the cut. Grab the names FREE today.
Opendoor Technologies klesla v první polovině roku o 21 %, protože po loňském růstu se vrací na zem v oslabeném trhu s bydlením. Nový šéf Kaz Nejatian sází na objem a rychlost, ale firma zůstává nerentabilní.
Opendoor Technologies (OPEN 0.81%) stock dropped 21% in the first half of the year, according to data provided by S&P Global Market Intelligence. After it skyrocketed with the help of social media and retail investors last year, it's been slowly coming back to earth as the housing market remains under pressure.
A new CEO and strategy There's been a lot going on at Opendoor over the past year. A concerted effort by retail investors to shake things up resulted in the previous CEO being ousted and replaced by Kaz Nejatian, a Shopify veteran. He has changed the digital real estate company's focus, and there's been some progress.
There's been some of the garden variety of change, such as bringing in more artificial intelligence (AI) to become more efficient and work faster. Opendoor is also creating more options for customers, such as its cash now, more later product, which accounted for a third of acquisition contracts in the first quarter.
Image source: Getty Images.
The highlight of the strategy, though, and where it truly acts differently, is its focus on volume and velocity. Previously, it put efforts into finding bargains and focusing on spread. Nejatian's take was that this was leading to the purchase of worse homes, which were harder to sell. The new model is buying excellent homes and turning them over more quickly, even if it's a lower spread, and the results have been promising in the limited time it's been going on.
In the 2026 first quarter, it purchased 45% more homes sequentially, and it had 5,000 under contract, double the fourth-quarter number and the highest number since 2022. The number of homes on the market for more than 120 days decreased from 33% the quarter before to 10%, below the the 33% market average. Contribution margin improved every month since September, when this all got started, and recent monthly cohorts are selling faster than corresponding months for every year since the pandemic.
A reality check This kind of progress should send the stock up, not down. But after the stock had an astronomical rise last year, the company is now doing the practical work of demonstrating that it can meet the moment. Early progress is great, but Opendoor is unprofitable and operating in a challenging environment. Interest rates aren't coming down right now, and the housing market is still under pressure.
The market has already priced in a potential recovery, and the company is still proving itself.
Jennifer Saibil has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Shopify. The Motley Fool has a disclosure policy.
Opendoor ve 1. čtvrtletí uzavřel přes 5 000 smluv a marže z resale contribution stoupla na 4,4 %. Podíl domů na trhu déle než 120 dní klesl na 10 % z 51 % před dvěma čtvrtletími.
Key Takeaways OPEN signed more than 5,000 acquisition contracts in Q1, its strongest quarterly volume since Q2 2022.Opendoor's resale contribution margin reached 4.4% in Q1, up 340 basis points sequentially.OPEN reduced homes on the market for more than 120 days to 10% from 51% two quarters earlier. Opendoor Technologies Inc. (OPEN - Free Report) is entering the back half of 2026 with seasonality becoming an important test for Opendoor 2.0. Although housing activity typically softens during this period, recent operating metrics suggest Opendoor 2.0 is giving the company a stronger operating base heading into the seasonal slowdown.
Seasonality is a meaningful factor in OPEN’s operating model. The company stated that the housing selling season typically begins shortly after the Super Bowl, peaks in early summer, tapers through the fall and bottoms in December. This pattern affects resale velocity, spread decisions and acquisition cadence. OPEN also noted that days on market usually lengthen in the back half of the year, while margins tend to compress in the fourth quarter.
OPEN enters this seasonal test with improved operating metrics. In the first quarter of 2026, the company entered into more than 5,000 contracts, its strongest quarterly contract volume since the second quarter of 2022. Resale contribution margin improved every month since September 2025 and closed the quarter at 4.4%, up 340 basis points sequentially. The percentage of homes on the market for more than 120 days fell to 10% from 51% two quarters earlier. This healthier inventory position gives OPEN a stronger starting point as seasonal demand moderates, with fewer aged homes reducing clearance pressure and supporting resale-margin stability.
The back half of 2026 will provide a key checkpoint for OPEN’s margin durability as seasonal housing demand moderates. The company’s ability to limit margin slippage will likely depend on fresh inventory, sustained resale velocity and continued contribution-margin stability as housing demand tapers.
Opendoor’s Competitor LandscapeZillow Group, Inc. (ZG - Free Report) provides a relevant benchmark for OPEN because it is navigating housing-market softness through a capital-light platform. Zillow’s integrated housing ecosystem spans search, touring, financing, agent workflows and closing, helping it support buyer and seller engagement without direct owned-home resale exposure. This positions Zillow as a lower-inventory-risk benchmark, while OPEN’s margin profile is more directly tied to resale execution and owned-home turns.
Offerpad Solutions Inc. (OPAD - Free Report) provides a closer operating comparison because it remains exposed to home-level execution, resale timing and capital discipline. Offerpad is expanding its Cash Offer, Cash Offer Marketplace, Brokerage Services and Renovate platform while using SCOUT and HENRY to improve seller routing, acquisition accuracy, renovation estimates and disposition decisions. These efforts are aimed at improving conversion and managing asset-level risk in a pressured housing market.
Against this backdrop, OPEN sits between Zillow’s capital-light housing platform and Offerpad’s more targeted seller-solutions model. Zillow benefits from platform breadth and lower inventory exposure, while Offerpad is focused on improving seller conversion and asset-level execution. OPEN’s differentiation lies in applying Opendoor 2.0 across a larger resale funnel, where tighter execution can have a greater impact on margin performance.
OPEN’s Stock Price Performance, Valuation & EstimatesShares of Opendoor have skyrocketed 719.9% in the past year against the industry’s 23.6% decline.
OPEN One-Year Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, OPEN trades at a forward price-to-sales (P/S) multiple of 0.75, significantly below the industry’s average of 3.55.
OPEN’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for OPEN's 2026 loss per share suggests a 53.9% year-over-year improvement. Loss per share estimates for 2026 have widened in the past 30 days.
EPS Trend of OPEN Stock
Image Source: Zacks Investment Research
