Key Stats for OPEN Stock
- Price Change for OPEN stock: +7.5%
- OPEN Share Price as of Feb. 20: $5
- 52-Week High: $10.87
- OPEN Stock Price Target: $4.33
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What Happened?
Opendoor Technologies Inc. (OPEN) stock rose about 8% on February 20 after the online home-selling platform reported Q4 2025 results that beat revenue expectations and showed improving operating metrics.
The company generated Q4 revenue of roughly $736 million, which was well above consensus estimates near the high $500 million range and signaled a rebound in transaction volumes.
Adjusted EBITDA came in at about -$43 million, slightly better than analyst expectations, as tighter cost controls and more disciplined pricing helped limit operating losses.
However, Opendoor reported a GAAP net loss of approximately $1.1 billion, or -$1.26 per share, largely driven by a $933 million non-cash loss tied to the extinguishment and refinancing of convertible debt.
Investors appeared willing to look through this accounting hit because underlying business metrics improved, including a 46% sequential jump in home acquisition volumes and better contribution margins.
For full-year 2025, Opendoor generated around $4.37 billion in revenue, down from roughly $5.15 billion in 2024 as the company deliberately shrank its footprint to focus on higher-quality markets and more profitable cohorts.
The company’s transformation plan, often referred to as “Opendoor 2.0,” aims to reposition the business around leaner inventory levels, more data-driven pricing, and a greater mix of marketplace and partnership-driven transactions.
Opendoor has also been active on the capital-structure front. In November 2025, it distributed a special dividend of tradable warrants, giving shareholders additional upside exposure with strikes at $9, $13, and $17 per share.
Management expects Q1 2026 revenue to decline roughly 10% sequentially from Q4 as housing seasonality kicks in, but the company continues to target a path toward sustainable profitability by 2026.
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What the Market Is Telling Us About OPEN Stock
Even after the recent rally, OPEN trades at $5, well below its 52-week high of $10.87 but far above its 52-week low of $0.51 as investors reassess the company’s turnaround prospects.
Street data show a mean 12-month target price of $4.33 across 6 analyst estimates, which implies downside from today’s level after the post-earnings jump.
The latest recommendations include 1 Buy rating, 1 Outperform rating, and 5 Hold ratings, reflecting a cautious but not outright bearish stance from Wall Street.
From a growth perspective, analysts forecast a forward 2-year revenue CAGR of about 23.3% as housing volumes normalize and Opendoor expands its marketplace offerings, though EPS is still expected to decline on a forward 2-year basis.
Key tailwinds include any stabilization or improvement in U.S. housing activity, better technology-driven pricing, and potential benefits from the company’s warrant distribution and balance sheet restructuring.
But risks remain significant, including ongoing net losses, high share-count dilution, and the possibility that housing market volatility or tighter credit could pressure volumes and margins again.
With the stock now trading above consensus targets and fundamentals still in repair mode, future performance will likely hinge on whether Opendoor can translate recent operational progress into sustained profitability without relying on one-time financial engineering.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
