Offerpad Solutions (NYSE:OPAD) Receives Market Outperform Rating from JMP Securities

Offerpad Solutions (NYSE:OPAD)‘s stock had its “market outperform” rating reissued by research analysts at JMP Securities in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $12.00 target price on the stock. JMP Securities’ target price would suggest a potential upside of 64.16% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group decreased their price objective on shares of Offerpad Solutions from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. JPMorgan Chase & Co. decreased their price objective on shares of Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.40.

Offerpad Solutions Stock Up 1.5 %

Offerpad Solutions stock opened at $7.31 on Friday. The company’s fifty day simple moving average is $8.35 and its 200-day simple moving average is $8.85. Offerpad Solutions has a 12 month low of $6.00 and a 12 month high of $15.19. The stock has a market cap of $199.42 million, a P/E ratio of -1.57 and a beta of 2.07.

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

Institutional Investors Weigh In On Offerpad Solutions

A number of hedge funds have recently bought and sold shares of OPAD. BNP Paribas Arbitrage SNC bought a new stake in Offerpad Solutions during the third quarter valued at about $34,000. HighTower Advisors LLC bought a new stake in Offerpad Solutions during the fourth quarter valued at about $35,000. Mercer Global Advisors Inc. ADV bought a new stake in Offerpad Solutions during the third quarter valued at about $38,000. Alliancebernstein L.P. boosted its holdings in Offerpad Solutions by 50.5% during the fourth quarter. Alliancebernstein L.P. now owns 89,700 shares of the company’s stock valued at $41,000 after acquiring an additional 30,100 shares during the period. Finally, Citigroup Inc. bought a new stake in Offerpad Solutions during the first quarter valued at about $42,000. 39.44% of the stock is currently owned by institutional investors.

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.