NEW YORK, April 22, 2026, 10:14 EDT
Opendoor Technologies (OPEN) climbed roughly 0.8% to $5.50 in morning trading Wednesday, pushing further into its April rally as the company’s first-quarter report nears on May 7. The stock finished at $5.45 Tuesday, well above its April 14 close of $4.51.
This matters now with Opendoor stock surging once more, retail traders crowding into meme stocks—names that can spike on social chatter instead of earnings. Facing its next quarterly report, the company announced last week it’s scrapping the standard earnings call in favor of a video “Financial Open House,” where shareholders can submit live questions. Reuters
Opendoor, an iBuyer that relies on software for fast cash offers before flipping homes, surged ahead Wednesday. Offerpad climbed 3.1%, Zillow tacked on 0.8%, and the XLRE real estate ETF managed a 0.2% gain.
February brought comments from CEO Kaz Nejatian, who told investors the company was “executing on that plan” following Opendoor’s fourth-quarter results—$736 million in revenue and an adjusted EBITDA loss of $43 million, a metric closely watched for signals on core operations. Homes purchased jumped 46% over the previous quarter. Opendoor also reported a 23% drop in days in possession, and it’s sticking to its target: break even on adjusted net income by the end of 2026, measured on a 12-month rolling basis. Opendoor Technologies Inc.
Following those results, CFO Christy Schwartz told investors Opendoor planned to spend the first quarter “rebuild[ing] inventory with higher-quality homes” after moving through its older stock at a brisker pace than anticipated. So, May 7 takes on extra significance: Investors are watching closely for evidence that growing volumes are actually delivering stronger unit economics — in other words, more profit per home after accounting for direct costs. Sherwood News
The Street remains divided. J.P. Morgan’s Dae Lee is sticking to his bullish stance, keeping an overweight rating and an $8 price target. He points to management’s “energy” and new products as possible upside levers. UBS’s Stephen Ju, on the other hand, described the quarter as “another reset point,” arguing Opendoor still needs to prove it can consistently generate positive unit economics. Sherwood News
This week brought a slightly sturdier tone to housing. Contracts for buying previously owned U.S. homes moved up 1.5% in March, topping expectations. Still, first-time buyers are “highly sensitive to mortgage rates,” NAR chief economist Lawrence Yun noted. Reuters
Still, risks remain. March saw existing home sales slide to their lowest point in nine months, while in April, homebuilder sentiment dropped to a seven-month low. Higher mortgage rates, surging energy costs, and lingering uncertainty are pinching affordability and putting pressure on prices.
It could just be froth. Viraj Patel at Vanda Research pointed to early signs of “another meme-stock summer.” B. Riley Wealth’s Art Hogan had his concerns, flagging how speculative runs usually drag in buyers chasing the wildest names. Reuters
Opendoor shares have pushed past the $5 price target UBS called back in February, now trading near $5.50. Still, the stock sits far from its $10.87 high over the past year. Investors looking for a fresh set of numbers will get them May 7, when the company reports results.
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