Opendoor Technologies Inc. (NASDAQ:OPEN) is one of the hot penny stocks to invest in now. In a report released on July 18, Ryan Tomasello from KBW maintained a Hold rating on Opendoor Technologies Inc. (NASDAQ:OPEN) with a price target of $1.00.
A real estate broker presenting pieces of paper describing the details of a home sale.
Opendoor Technologies Inc. reported $1.2 billion in revenue in fiscal Q1 2025, down 2% compared to the same quarter last year. It sold 2,946 total homes in the quarter, a 4% drop from fiscal Q1 2024.
However, the company also reported $2.4 billion in inventory balance, representing 7,080 homes and up 26% compared to fiscal Q1 2024. Net loss for the quarter reached $85 million versus $109 million in the same quarter last year.
Opendoor Technologies Inc. operates in the buying, selling, and trading of residential properties online.
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This article is originally published at Insider Monkey.