Real estate trading platform Opendoor (NASDAQ:OPEN) continues its slide today as investors express housing sector concerns. OPEN stock price predictions are everywhere after the company hit a new all-time low this morning.
So, what’s going on with Opendoor lately?
Despite hitting its all-time high last February, and even enjoying a pleasant holiday surge, Opendoor is in the midst of a brutal pullback. The company is down nearly 4% to $10.26 per share at the time of writing, after briefly touching a new floor at $9.81.
The reason behind the early year slump? Well, it’s not entirely clear, but impending interest rate hikes appear the most likely culprit. Indeed, after a red-hot year for the housing market, anxiety over an impending real estate cooldown has yielded unfortunate results for the sector.
Real estate is historically a hedge against inflation. As such, with the Federal Reserve preparing to take every effort to cool a perhaps overzealous economy, concerns of a housing slowdown aren’t unwarranted.
Let’s see if Opendoor investors should rest easy or prepare for more slippage.
OPEN Stock Price Predictions
- Tipranks is seeing mostly bullish predictions for OPEN stock. In spite of the swirling concerns over the real estate market, Tipranks’ average 12-month price target, based on six Wall Street analysts, is $23.40 per share. The predictions range from as high as $42 to as low as $8 within the next year.
- Wall Street Zen features even more bullish predictions on OPEN stock. The 12-month range based on five analyst ratings, is anywhere from $42 to $17 per share. This provides an average price target of $32.20 per share, which would indicate 200% upside.
- PandaForecast is much more conservative on Opendoor. It predicts the stock will stagnate at its current level, with a one-year forecast of $10.81. However, it views OPEN as a long-term winner. By January 2026, it set a price target of $39.78 per share.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
