Brokerage UBS raised its price target on Opendoor and maintained a ‘neutral’ rating, noting that it no longer assumes the company returns to year-over-year revenue growth in fiscal 2026.
Opendoor Technologies (OPEN) saw retail user message count on Stocktwits jump 122% in the last 24 hours with retail sentiment improving to ‘bullish’ from ‘neutral’ a day ago after brokerage UBS raised its price target on the stock following its second-quarter results.
Shares of Opendoor have seen a sharp rally in the past month, mainly driven by bullish remarks from hedge fund manager Eric Jackson and a resurgence in meme stock enthusiasm, alongside other stocks such as Kohl’s and Krispy Kreme in recent weeks.
Opendoor stock was down nearly 22% before the bell. The stock was trading at $1.99 on Wednesday, compared to the July 14 closing price of $0.90, since when the meme stock frenzy was noted.
The message volumes on the stock were at ‘high’ levels (59/100), compared to ‘neutral’ (48/100), according to Stocktwits data.
UBS raised its price target on Opendoor to $1.60 from $1.30 and maintained a ‘neutral’ rating, according to TheFly.
The brokerage noted that it no longer assumes Opendoor returns to year-over-year revenue growth in fiscal 2026 or possibly breaks even on adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the year, as home price depreciation should remain the key macro headwind to the model through at least 1Q26.
A bullish user on Stocktwits noted that the stock could see a high again today following the news on results yesterday.
The company reported its second-quarter earnings on Tuesday and forecast third-quarter revenue to decrease about 36% between $800 million and $875 million.
Opendoor stock has gained nearly 58% so far this year and in the last 12 months.
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