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

Offerpad Solutions Inc. (NYSE:OPAD) has been given an average recommendation of “Hold” by the seven analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $2.2875.

A number of research firms recently issued reports on OPAD. Alliance Global Partners assumed coverage on Offerpad Solutions in a research note on Thursday, December 11th. They set a “buy” rating and a $3.50 price objective on the stock. Industrial Alliance Securities set a $3.50 target price on Offerpad Solutions in a report on Thursday, December 11th. Wall Street Zen raised shares of Offerpad Solutions from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Offerpad Solutions in a research report on Friday, October 31st.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL bought a new stake in Offerpad Solutions during the third quarter valued at $79,000. Monograph Wealth Advisors LLC purchased a new stake in shares of Offerpad Solutions in the 3rd quarter valued at about $248,000. Investure LLC bought a new stake in shares of Offerpad Solutions during the 3rd quarter valued at about $2,175,000. Vanguard Group Inc. grew its holdings in shares of Offerpad Solutions by 12.4% during the third quarter. Vanguard Group Inc. now owns 790,570 shares of the company’s stock worth $3,297,000 after purchasing an additional 87,144 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Offerpad Solutions in the second quarter worth approximately $44,000. Institutional investors own 39.44% of the company’s stock.

Offerpad Solutions Price Performance

OPAD opened at $2.15 on Monday. The company has a market capitalization of $79.06 million, a price-to-earnings ratio of -1.11 and a beta of 2.35. The company has a quick ratio of 0.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $1.70 and a 200-day moving average price of $2.39. Offerpad Solutions has a twelve month low of $0.91 and a twelve month high of $6.35.

Offerpad Solutions (NYSE:OPAD) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). Offerpad Solutions had a negative net margin of 8.74% and a negative return on equity of 147.32%. The business had revenue of $132.68 million for the quarter, compared to analysts’ expectations of $173.01 million. Equities analysts expect that Offerpad Solutions will post -2.16 EPS for the current year.

Offerpad Solutions Company Profile

Offerpad Solutions, Inc, listed on the NYSE under the ticker OPAD, is a technology-driven real estate platform specializing in the direct purchase, renovation and resale of single-family homes. Since its founding in 2015 and headquartered in Chandler, Arizona, the company leverages proprietary data analytics and algorithms to deliver fast, all-cash offers and flexible closing timelines to homeowners in select markets across the United States.

The company’s core services include its Instant Offer program for home acquisitions, in-house renovation and repair services to prepare properties for resale, and a suite of ancillary offerings such as title and escrow, home trade-in solutions and mortgage origination through strategic partnerships.