Opendoor stock falls 21.8% after earnings show wider loss and missed estimates

What happened

Opendoor (OPEN) fell 21.8% on November 6, 2026, after it reported third-quarter results that missed revenue and per-share loss expectations. The company said third-quarter 2026 revenue was $1.02 billion, up 12% year over year. Its net loss widened to $218 million. Gross margin fell to 3.7% from 7.2% a year earlier. The company reported a loss of $0.07 per share versus a consensus loss of $0.03. Those figures and the company commentary were detailed in filings and in summaries from GlobeNewsWire and Benzinga. The stock closed at $1.40 as the market absorbed the results and guidance-related commentary.

How big was the move

The stock fell 21.8% on the day, a decline that was 4.1 times a typical daily move for this stock. That drop was 21.2 percentage points worse than the Real Estate sector median, which fell 0.6% on the session. Trading volume was 1.8 times its 20-day average, signaling heavier-than-usual activity. The S&P 500 rose 0.3% on the day, and over the last five sessions the stock fell 22.2% while the S&P 500 fell 2.7%, indicating a company-specific reaction tied to the earnings release.

The technical picture

The technical backdrop was weak. The stock sat 27.9% below its 20-day moving average, 41.2% below its 50-day moving average and 65.8% below its 200-day moving average. The 50-day average is below the 200-day average, a sign of a weak longer-term trend. The 14-day relative strength index was 27, below the commonly cited oversold threshold of 30. The share price was 85.2% below its 52-week high. It fell 38.9% over one month, 59.8% over three months and 80.6% over one year, leaving it 89.2 percentage points behind the S&P 500 for the year. Volatility was 84% annualized over 60 days and the stock’s beta is 2.50, meaning it tends to move more than the market.

Fundamentals and valuation

On a trailing-four-quarters basis through September 30, 2026, Opendoor reported revenue of $3.36 billion, a decline of 28.8% from a year earlier. Diluted earnings per share for that period were negative $2.00 and gross margin was 7.2%, down from 8.0% a year earlier. The company shows an operating margin of 19.1% and a free-cash-flow margin of 51.8% for the same period, with return on invested capital at 26.2%. Share count increased by 28.0% over one year. Valuation on the provided metric shows a free-cash-flow yield of 99.7%.

Those mixed fundamentals paint an uneven picture. Trailing revenue has declined sharply year over year, yet reported operating and free-cash-flow margins are positive and large in absolute terms. The company and some analysts may point to those margin figures when assessing near-term viability despite the wide net loss in the latest quarter.

Earnings and analyst expectations

The company’s last reported earnings on November 5, 2026, showed an EPS loss of $-0.23 versus a consensus loss of $-0.16, a shortfall described in the data as 41.2% below estimates. Opendoor missed both revenue and per-share loss expectations in that report. The firm has had zero consecutive quarters beating estimates and an average surprise over the last four reports listed as 100.0% below estimates. The typical two-day reaction after recent reports is a fall of 3.3%. The next scheduled report is on February 18, 2027.

Analysts’ consensus price target stood at $4.92, which is 251.4% above the closing price of $1.40. Twenty-seven analysts provide ratings, with 26% of them rating the stock Buy or Strong Buy and the consensus rating listed as Hold.

What to watch

• Next report: February 18, 2027.
• Last report (November 5, 2026): EPS $-0.23 versus $-0.16 expected, 41.2% below estimates.
• Consensus price target: $4.92, which is 251.4% above the closing price of $1.40.
• Number of analysts with a rating: 27; 26% of those rate the stock Buy or Strong Buy, consensus rating Hold.