Opendoor Technologies price target raised to $3.90 from $1.80 at Citi

Citi raised the firm’s price target on Opendoor Technologies to $3.90 from $1.80 and keeps a Neutral rating on the shares. The company reported better than expected Q2 revenue and margins, but its Q3 guidance was materially below Street estimates, the analyst tells investors in a research note. The guidance implies a material step down in homes sold sequentially in Q3, the problem Opendoor is facing as it has sold materially more homes than it has acquired in the last nine months, says the firm.