5 Stocks in Limelight After Releasing Their Quarterly Reports

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In this article, we discuss the 5 stocks in limelight after releasing their quarterly reports. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks in Limelight After Releasing Their Quarterly Reports.

5. Opendoor Technologies Inc. (NASDAQ:OPEN)

Number of Hedge Fund Holders: 35

Shares of Opendoor Technologies Inc. (NASDAQ:OPEN) jumped more than 15 percent on Thursday, 11 November 2021, after posting better-than-expected financial results for the third quarter. The digital platform operator for residential real estate reported a loss of 9 cents per share, well below a loss of 91 cents per share in the year-ago quarter.

Revenue for the quarter skyrocketed 91 percent on a year-over-year basis to $2.3 billion. Analysts were expecting Opendoor Technologies Inc. (NASDAQ:OPEN) to report a loss of 17 cents per share on revenue of $2 billion.

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In addition, the company sold 5,988 homes in the quarter, representing a surge of 72 percent versus last year. Moreover, it acquired 15,181 homes, up 79 percent from the comparable period of 2020.

Looking forward, Opendoor Technologies Inc. (NASDAQ:OPEN) expects revenue in the range of $3.1 billion – $3.2 billion for the fourth quarter, above analysts’ average estimate of $2.92 billion.

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