Offerpad Solutions Inc. (NYSE:OPAD) Receives $2.38 Average Price Target from Analysts

Shares of Offerpad Solutions Inc. (NYSE:OPAD) have received an average recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $2.38.

Several analysts have issued reports on OPAD shares. JMP Securities reissued a “market perform” rating on shares of Offerpad Solutions in a research note on Tuesday, May 6th. The Goldman Sachs Group cut their target price on shares of Offerpad Solutions from $2.00 to $1.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Citigroup downgraded shares of Offerpad Solutions to a “market perform” rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods dropped their price target on shares of Offerpad Solutions from $2.25 to $1.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 7th. Finally, Citizens Jmp downgraded shares of Offerpad Solutions from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 6th.

Institutional Investors Weigh In On Offerpad Solutions

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in Offerpad Solutions by 69.6% during the first quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock valued at $40,000 after acquiring an additional 9,979 shares during the period. Ieq Capital LLC bought a new stake in Offerpad Solutions during the first quarter valued at about $353,000. XTX Topco Ltd bought a new stake in Offerpad Solutions during the first quarter valued at about $32,000. Deutsche Bank AG bought a new stake in Offerpad Solutions during the fourth quarter valued at about $111,000. Finally, Jane Street Group LLC bought a new stake in Offerpad Solutions during the fourth quarter valued at about $34,000. 39.44% of the stock is currently owned by institutional investors.

Offerpad Solutions Stock Down 0.2%

Shares of NYSE:OPAD opened at $0.99 on Friday. The company’s fifty day moving average is $1.25 and its two-hundred day moving average is $2.26. Offerpad Solutions has a 12-month low of $0.92 and a 12-month high of $5.35. The company has a market cap of $27.21 million, a P/E ratio of -0.45 and a beta of 2.24.

Offerpad Solutions (NYSE:OPAD) last announced its earnings results on Monday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.04. Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. The company had revenue of $160.70 million for the quarter, compared to the consensus estimate of $180.51 million. Equities research analysts anticipate that Offerpad Solutions will post -2.16 earnings per share for the current year.

Offerpad Solutions Company Profile

Offerpad Solutions Inc, together with its subsidiaries, provides technology-enabled solutions for residential real estate market in the United States. It operates iBuying, a real estate solutions platform for on-demand customer that provides home buyers the opportunity to browse and tour homes online.