Offerpad Solutions Inc. (NYSE:OPAD) Receives Average Recommendation of “Hold” from Analysts

Offerpad Solutions Inc. (NYSE:OPAD) has earned an average rating of “Hold” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $11.40.

OPAD has been the subject of a number of recent research reports. JMP Securities reissued a “market outperform” rating and issued a $12.00 target price on shares of Offerpad Solutions in a research note on Friday, April 12th. The Goldman Sachs Group reduced their price target on Offerpad Solutions from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. reduced their price target on Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. grew its holdings in shares of Offerpad Solutions by 60,888.9% during the 3rd quarter. Citigroup Inc. now owns 21,956 shares of the company’s stock worth $214,000 after acquiring an additional 21,920 shares during the period. Credit Suisse AG purchased a new position in shares of Offerpad Solutions during the 2nd quarter worth approximately $69,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Offerpad Solutions by 154.1% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 54,666 shares of the company’s stock worth $67,000 after acquiring an additional 33,152 shares during the period. Pathstone Family Office LLC purchased a new position in shares of Offerpad Solutions during the 3rd quarter worth approximately $53,000. Finally, Legal & General Group Plc purchased a new position in shares of Offerpad Solutions during the 2nd quarter worth approximately $47,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

Offerpad Solutions Stock Up 3.8 %

Shares of OPAD stock opened at $7.06 on Wednesday. Offerpad Solutions has a 12-month low of $6.00 and a 12-month high of $15.19. The business has a 50-day moving average price of $8.30 and a two-hundred day moving average price of $8.82. The firm has a market cap of $192.60 million, a P/E ratio of -1.51 and a beta of 2.07.

Offerpad Solutions (NYSE:OPAD) last released its earnings results on Monday, February 26th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.15). Offerpad Solutions had a negative net margin of 8.92% and a negative return on equity of 93.45%. The company had revenue of $240.46 million during the quarter, compared to the consensus estimate of $256.60 million. During the same period last year, the firm posted ($7.35) EPS. As a group, research analysts expect that Offerpad Solutions will post -1.03 EPS for the current fiscal year.

About Offerpad Solutions

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.