Opendoor (OPEN) To Report Earnings Tomorrow: Here Is What To Expect

Jabin Bastian /
2024/02/14 2:01 am EST

Technology real estate company Opendoor (NASDAQ:OPEN) will be reporting results tomorrow afternoon. Here's what investors should know.

Last quarter Opendoor reported revenues of $980 million, down 70.8% year on year, missing analyst expectations by 3.4%. It was a weaker quarter for the company, with revenue guidance for next quarter missing analysts' expectations.

Is Opendoor buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Opendoor's revenue to decline 71% year on year to $827.6 million, a further deceleration on the 25.2% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.19 per share.

Opendoor Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 12.1%.

Looking at Opendoor's peers in the consumer discretionary segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Universal Technical Institute delivered top-line growth of 45.6% year on year, beating analyst estimates by 3.8% and MGM Resorts reported revenues up 21.8% year on year, exceeding estimates by 5.8%. Universal Technical Institute traded up 4.2% on the results, and MGM Resorts was down 2.1%.

Read our full analysis of Universal Technical Institute's results here and MGM Resorts's results here.

There has been positive sentiment among investors in the consumer discretionary segment, with the stocks up on average 3.2% over the last month. Opendoor is up 2.2% during the same time, and is heading into the earnings with analyst price target of $3.3, compared to share price of $3.29.

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