Opendoor Technologies Inc. stock whipsaws, hedge fund manager Eric Jackson asks investors to hold on, reaffirming his long-term target of $82 a share.

Eric Jackson, a hedge fund manager, asks investors to hold on to Opendoor Technologies stock despite its recent volatility. He reaffirms his long-term target of $82 a share, representing a 3,900% upside from current levels. Jackson's model is based on the forward enterprise value-to-revenue ratio, similar to Carvana and Uber. He acknowledges that next week's earnings call may not convince skeptics, but advises investors to be patient, saying "Rome wasn't built in a day. Neither were 100-baggers."

Hedge fund manager Eric Jackson has reaffirmed his long-term target for Opendoor Technologies (NASDAQ: OPEN) stock, despite recent volatility. Jackson, known for his bold predictions, sees a significant upside in the stock, targeting $82 per share, a 3,900% increase from its current levels [2]. His valuation model is based on the forward enterprise value-to-revenue ratio, similar to that used for companies like Carvana and Uber [2].

Jackson’s target hinges on forward revenue projections. He believes that Opendoor's forward enterprise value-to-revenue ratio is currently at 0.4x, compared to 5.1x in February 2021. He projects that by 2026, Opendoor's revenue could reach $5.75 billion and by 2029, $12 billion. Using this forward revenue, Jackson calculates a near-term target of $31 per share, with a longer-term target of $82 [2].

Jackson acknowledges that the upcoming earnings call might not convince skeptics, but he advises investors to remain patient. He compares the situation to building Rome, emphasizing that significant gains like "100-baggers" take time [2].

Opendoor has faced several challenges recently. The company's iBuying model, which uses algorithms to buy, renovate, and flip homes, has struggled in a stagnant housing market. High interest rates and increased inventory have weakened demand. Additionally, Opendoor's high-volume, low-margin strategy leaves it vulnerable to market fluctuations [1].

The company's financial performance has been a concern. Opendoor reported a 26% revenue drop and $392 million in losses, reflecting its struggle to achieve profitability. Analysts’ skepticism is evident in their price target, which is significantly lower than the stock's peak [1].

Moreover, Opendoor's Cash Plus program, which offers sellers immediate cash and potential additional proceeds, has amplified its risks. In a cooling market, the program requires upfront cash and covers renovation costs, which could erode margins if homes remain unsold [1].

Despite these challenges, Jackson remains optimistic. He advises investors to "sit on their hands" if they find the stock's volatility too much, suggesting that it's not for everyone [2]. However, he emphasizes that patience is key for those who believe in the company's long-term prospects.

References:
[1] https://247wallst.com/investing/2025/07/30/opendoors-meme-driven-rally-collapses-the-warning-signs-investors-missed/
[2] https://www.benzinga.com/markets/penny-stocks/25/07/46714296/eric-jackson-asks-open-investors-to-hold-on-as-stock-goes-from-50-cents-to-5-to-2-rome-wasnt-built-in-a-day-neither-were-100-baggers