Opendoor (OPEN) Soars 21% on Q3 Beat

We recently published 10 Stocks Beating the Market with Eye-Popping Gains. Opendoor Technologies Inc. (NASDAQ:OPEN) is one of the best-performing stocks on Monday.

Opendoor grew its share prices by 21.49 percent on Monday to close at $7.97 apiece after beating its revenue guidance for the third quarter and updating its financial outlook for the fourth quarter.

In an updated report, Opendoor Technologies Inc. (NASDAQ:OPEN) said it incurred revenues of $915 million in the third quarter of the year, a decline of 33 percent from the $1.377 billion in the same period last year, but exceeded its earlier guidance of $800 million to $875 million.

Net loss, on the other hand, widened by 15 percent to $90 million from $78 million in the same comparable period, amid a 37 percent lower gross profit.

Opendoor Technologies Inc. (NASDAQ:OPEN) updated its financial outlook, with adjusted net income expected to break even by the end of next year.

For the fourth quarter of 2025, Opendoor Technologies Inc. (NASDAQ:OPEN) expects revenues to decrease by 35 percent sequentially due to low inventory levels from reduced acquisition volumes in the third quarter, but acquisition activities are expected to pick up during the current period.

It also targets to book adjusted EBITDA loss of high $40 millions to mid $50 millions in the fourth quarter of the year.

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