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

Offerpad Solutions Inc. (NYSE:OPAD) has been given a consensus rating of “Hold” by the six brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $2.25.

Several equities analysts recently weighed in on OPAD shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Offerpad Solutions in a report on Wednesday, January 28th. Keefe, Bruyette & Woods cut their price target on shares of Offerpad Solutions from $1.75 to $1.00 and set a “market perform” rating on the stock in a report on Wednesday, February 25th.

Institutional Investors Weigh In On Offerpad Solutions

Several hedge funds have recently bought and sold shares of OPAD. Marshall Wace LLP purchased a new stake in Offerpad Solutions in the 4th quarter worth approximately $768,000. Investure LLC purchased a new stake in Offerpad Solutions in the 3rd quarter worth approximately $2,175,000. Quadrature Capital Ltd purchased a new stake in Offerpad Solutions in the 4th quarter worth approximately $306,000. Vanguard Group Inc. boosted its position in Offerpad Solutions by 12.4% in the 3rd 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, Monograph Wealth Advisors LLC purchased a new stake in Offerpad Solutions in the 3rd quarter worth approximately $248,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

Offerpad Solutions Price Performance

Shares of NYSE:OPAD opened at $0.85 on Wednesday. Offerpad Solutions has a twelve month low of $0.57 and a twelve month high of $6.35. The company’s 50 day moving average is $0.76 and its 200 day moving average is $1.46. The company has a current ratio of 1.48, a quick ratio of 0.43 and a debt-to-equity ratio of 0.38. The company has a market cap of $40.27 million, a PE ratio of -0.55 and a beta of 2.42.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.04. Offerpad Solutions had a negative net margin of 8.17% and a negative return on equity of 135.22%. The company had revenue of $114.12 million for the quarter, compared to the consensus estimate of $159.00 million. On average, sell-side analysts forecast that Offerpad Solutions will post -0.72 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.