Oppenheimer analyst Jason Helfstein downgraded Opendoor Technologies to Perform from Outperform without a price target. The company’s third-party ramp is slower than previously disclosed and its "lower-margin" Q2 of 2022 cohort continues to handicap margins, the analyst tells investors in a research note. The analyst does not see investors supporting the stock until third-party becomes the main growth driver of transactions.
Published first on TheFly
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