Offerpad Solutions (NYSE:OPAD) Stock Rating Lowered by Zacks Investment Research

Offerpad Solutions (NYSE:OPADGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “OfferPad Inc. provide tech-enabled platform for buying and selling residential real estate. OfferPad Inc., formerly known as Supernova Partners Acquisition Company Inc., is based in CHANDLER, Ariz. “

OPAD has been the subject of several other reports. Berenberg Bank initiated coverage on Offerpad Solutions in a research report on Tuesday, January 11th. They set a “buy” rating and a $7.00 price target for the company. Keefe, Bruyette & Woods initiated coverage on Offerpad Solutions in a research report on Monday, February 14th. They set a “market perform” rating and a $15.00 price target for the company. Finally, The Goldman Sachs Group initiated coverage on Offerpad Solutions in a research report on Wednesday, March 30th. They set a “neutral” rating and a $6.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of 9.50.

Shares of OPAD stock opened at 5.27 on Wednesday. The stock has a 50 day moving average of 4.95 and a 200 day moving average of 5.76. Offerpad Solutions has a twelve month low of 2.96 and a twelve month high of 20.97.

Offerpad Solutions (NYSE:OPADGet Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported 0.05 EPS for the quarter, beating the Zacks’ consensus estimate of -0.09 by 0.14. The business had revenue of 867.54 million during the quarter, compared to analysts’ expectations of 673.50 million. As a group, equities analysts predict that Offerpad Solutions will post -0.14 earnings per share for the current year.

In other Offerpad Solutions news, Director Ryan Ohara purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 8th. The shares were acquired at an average price of 4.17 per share, with a total value of 41,700.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth D. Degiorgio purchased 25,000 shares of the firm’s stock in a transaction dated Friday, March 11th. The stock was acquired at an average cost of 3.98 per share, for a total transaction of 99,500.00. The disclosure for this purchase can be found here.

Several hedge funds have recently bought and sold shares of OPAD. LL Funds LLC purchased a new stake in shares of Offerpad Solutions in the 4th quarter valued at $641,600,000. Weiss Asset Management LP purchased a new stake in shares of Offerpad Solutions in the 3rd quarter valued at $8,720,000. Luxor Capital Group LP raised its holdings in shares of Offerpad Solutions by 27.9% in the 4th quarter. Luxor Capital Group LP now owns 4,237,558 shares of the company’s stock valued at $27,120,000 after buying an additional 923,143 shares during the period. Islet Management LP purchased a new stake in shares of Offerpad Solutions in the 3rd quarter valued at $6,664,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Offerpad Solutions in the 4th quarter valued at $3,993,000. Hedge funds and other institutional investors own 51.71% of the company’s stock.

Offerpad Solutions Company Profile (Get Rating)

Offerpad Solutions Inc, together with its subsidiaries, engages in buying, selling, renting, and renovating properties to homeowners in the United States. It operates iBuying, a real estate solutions platform for on-demand customer. The company provides customer-centric experience, which enables them to sell and buy homes online with streamlined access to ancillary services, such as mortgage and title insurance services.

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Analyst Recommendations for Offerpad Solutions (NYSE:OPAD)

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