5 Best Cheap Technology Stocks To Invest In

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1. Opendoor Technologies Inc. (NASDAQ:OPEN)

Number of Hedge Fund Holders: 35
Share Price as of November 1: $24.75

This September, Citigroup resumed its coverage on Opendoor Technologies Inc. (NASDAQ:OPEN) with a Buy rating and a $40 price target, up from $34. The firm sees an opportunity in the company’s robust model. Opendoor Technologies Inc. (NASDAQ:OPEN) is an American online company for transacting in the residential real estate market.

At the end of Q2, 35 hedge funds tracked by Insider Monkey reported owning stakes in Opendoor Technologies Inc. (NASDAQ:OPEN), up from 33 in the previous quarter. The total value of these stakes is over $765 million.

In Q3, Opendoor Technologies Inc. (NASDAQ:OPEN) posted a GAAP EPS of -$0.09, beating the estimates by $0.08. The company’s revenue for the quarter stood at $2.27 billion, presenting a 570.4% year-over-year growth. In the past year, Opendoor Technologies Inc. (NASDAQ:OPEN) delivered a 59% return to shareholders. On November 9, the stock surged 19% as the company issued strong guidance.

Baron Opportunity Fund mentioned Opendoor Technologies Inc. (NASDAQ:OPEN) in its Q2 2021 investor letter. Here is what the firm has to say:

“Opendoor Technologies Inc. operates a digital platform for home purchases and sales on which buyers can tour homes, make offers, and secure financing, and sellers can receive next-day cash offers with flexible close dates. Shares were down in the quarter given rising mortgage rates and the potential knock-on effects to the housing environment. Despite investor concerns, the housing market remains robust. As the iBuying industry leader disrupting an enormous and highly inefficient industry, we believe Opendoor will grow regardless of the housing market environment.”

You can also take a look at 10 Best Technology Stocks That Pay Dividends and 15 Most Valuable Technology Companies in the World

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