Opendoor Technologies Inc (OPEN) saw its stock price plummet 9.62% during Tuesday's trading session, as investors reacted to gloomy forecasts ahead of the company's upcoming third-quarter earnings report. The sharp decline comes as analysts predict a loss and significant revenue drop for the real estate technology firm.

According to a recent earnings preview, Opendoor is expected to report its Q3 2025 results on November 6. Analysts are forecasting a loss of 7 cents per share, highlighting the challenges faced by the company. Moreover, revenue is projected to decrease by 38.3% to $849.588 million, compared to $1.38 billion in the same quarter last year. This substantial decline in expected revenue has likely contributed to investor concerns, triggering the sell-off.

Adding to the bearish sentiment, Wall Street's median 12-month price target for Opendoor Technologies stands at $1.00, which is approximately 659% below its previous closing price of $7.59. The current average analyst rating on the stock is "hold," with a breakdown of 1 "buy," 6 "hold," and 3 "sell" recommendations. This cautious outlook from analysts, combined with the expected financial performance, appears to have prompted investors to reassess their positions in OPEN stock, resulting in the significant drop in share price.