Offerpad Solutions Inc. (NYSE:OPAD) Given Average Rating of “Hold” by Brokerages

Shares of Offerpad Solutions Inc. (NYSE:OPAD) have received an average rating of “Hold” from the six brokerages that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $11.40.

A number of brokerages recently issued reports on OPAD. JMP Securities reissued a “market outperform” rating and issued a $12.00 target price on shares of Offerpad Solutions in a research report on Friday, April 12th. The Goldman Sachs Group decreased their price objective on Offerpad Solutions from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. decreased their price objective on Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th.

Offerpad Solutions Stock Up 3.8 %

Shares of NYSE OPAD opened at $7.06 on Wednesday. The stock has a market cap of $192.60 million, a PE ratio of -1.51 and a beta of 2.07. Offerpad Solutions has a 52-week low of $6.00 and a 52-week high of $15.19. The business has a 50-day moving average price of $8.30 and a 200 day moving average price of $8.82.

Offerpad Solutions (NYSE:OPAD) last announced its earnings results 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 firm had revenue of $240.46 million during the quarter, compared to analyst estimates of $256.60 million. Offerpad Solutions had a negative net margin of 8.92% and a negative return on equity of 93.45%. During the same period last year, the company earned ($7.35) earnings per share. Sell-side analysts anticipate that Offerpad Solutions will post -1.03 earnings per share for the current year.

Institutional Trading of Offerpad Solutions

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in shares of Offerpad Solutions by 21.7% during the 4th quarter. Barclays PLC now owns 11,285 shares of the company’s stock worth $116,000 after buying an additional 2,013 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Offerpad Solutions by 43.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 21,514 shares of the company’s stock worth $47,000 after buying an additional 6,514 shares in the last quarter. Citigroup Inc. purchased a new position in shares of Offerpad Solutions during the 1st quarter worth approximately $42,000. Charles Schwab Investment Management Inc. raised its stake in shares of Offerpad Solutions by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 358,937 shares of the company’s stock worth $1,806,000 after buying an additional 8,859 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Offerpad Solutions by 62.0% during the 4th quarter. Northern Trust Corp now owns 31,952 shares of the company’s stock worth $328,000 after buying an additional 12,228 shares in the last quarter. 39.44% of the stock is owned by institutional investors and hedge funds.

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.