Opendoor Technologies price target raised to $5 from $2.50 at JMP Securities

JMP Securities raised the firm’s price target on Opendoor Technologies to $5 from $2.50 and keeps an Outperform rating on the shares. Shares of Opendoor are 200% higher than its intra-quarter low, which the firm attributes to its better than anticipated Q1 results and Q2 guidance and evidence that industry trends are improving, the analyst tells investors in a research note. JMP Securities, which continues to see Opendoor’s home seller and buyer solutions as valuable and disruptive to the broader ecosystem, thinks Opendoor can deliver better top-line revenue on higher average home selling prices and higher contribution profits than originally estimated.