Broadcom named strategic vendor for Walmart virtualization solutions
In a turbulent market environment, Social Capital Hedosophia (NYSE:SPCE) Holdings Corp II (OPEN) has seen its stock price touch a 52-week low of $1.12 USD, with InvestingPro data showing the stock currently trades below its Fair Value. The company’s financial health score is rated as WEAK, with a beta of 2.81 indicating higher volatility than the market. This significant downturn reflects a broader trend for the company, which has experienced a substantial decline of -58.76% over the past year. Investors are closely monitoring the stock as it navigates through these challenging financial waters, with analysts setting price targets between $1.00 and $2.50. The current low presents a stark contrast to previous performance and market expectations, signaling a period of reassessment for the company’s value and future prospects. InvestingPro subscribers have access to 20 additional key insights about OPEN, including detailed analysis of its debt structure and cash flow patterns.
In other recent news, Opendoor (NASDAQ:OPEN) Technologies reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of -$0.16 against the projected -$0.17. The company also exceeded revenue forecasts, posting $1.08 billion compared to the expected $965.32 million, demonstrating a 25% year-over-year increase in revenue to $1.1 billion. However, the full-year revenue for 2024 declined to $5.2 billion from $6.9 billion in 2023, reflecting ongoing challenges in the real estate market. UBS has adjusted its price target for Opendoor Technologies to $1.20 from $2.00, maintaining a Neutral rating due to concerns about unsold inventory and increased delistings. The analyst firm forecasts stable revenue growth for fiscal year 2025, slightly above market expectations, but anticipates a loss of $102 million in adjusted EBITDA, worse than the street’s projection of a $96 million loss.
Opendoor is focusing on cost efficiency and profitability, with plans to acquire over 3,500 homes in the first quarter of 2025. The company expects a contribution profit between $40 million and $50 million for the same period. UBS anticipates that the first quarter of 2025 will see peak adjusted operating expenses of approximately $90 million, with subsequent cost reductions expected. Despite the implementation of a new pricing model, UBS remains cautious about Opendoor’s potential for profitability in the near term. These developments come amid broader market concerns, as reflected in a 7.14% decline in Opendoor’s stock during after-hours trading.
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