Keefe Bruyette Downgrades Opendoor Technologies (OPEN) to Underperform From Market Perform

Opendoor Technologies Inc. (NASDAQ:OPEN) is one of the most buzzing stocks to invest in right now. On August 13, Keefe Bruyette analyst Ryan Tomasello downgraded Opendoor Technologies Inc. (NASDAQ:OPEN) to Underperform from Market Perform, setting a $1 price target.

Opendoor Technologies (OPEN) Skyrockets 43% as Investors Push Price Up Amid Delisting Concerns

A real estate broker presenting pieces of paper describing the details of a home sale.

The rating downgrade came after Opendoor Technologies Inc. (NASDAQ:OPEN) reported its Q2 earnings miss.

The analyst told investors in a research note that while high retail interest may continue to support valuation, Keefe Bruyette is downgrading Opendoor Technologies Inc. (NASDAQ:OPEN) due to the expectation of a broader loss in H2 2025.

The analyst added that the firm expects uncertainty from the strategy pivot to affect the shares’ trading near the high end of historical multiples.

Headquartered in Tempe, AZ, Opendoor Technologies Inc. (NASDAQ:OPEN) buys, sells, and trades residential properties online.

While we acknowledge the potential of OPEN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than OPEN and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.