Offerpad Solutions Inc. (NYSE:OPAD) Given Consensus Recommendation of “Hold” by Analysts

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

OPAD has been the subject of several research reports. iA Financial set a $3.50 price objective on shares of Offerpad Solutions in a research report on Thursday, December 11th. Keefe, Bruyette & Woods reduced their target price 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. Weiss Ratings restated a “sell (d-)” rating on shares of Offerpad Solutions in a research report on Wednesday, January 28th. Finally, Alliance Global Partners started coverage on shares of Offerpad Solutions in a report on Thursday, December 11th. They issued a “buy” rating and a $3.50 price target for the company.

Institutional Investors Weigh In On Offerpad Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP purchased a new position in shares of Offerpad Solutions in the 4th quarter worth approximately $27,000. Goldman Sachs Group Inc. purchased a new stake in Offerpad Solutions during the 4th quarter valued at $32,000. Barclays PLC lifted its position in Offerpad Solutions by 190.5% in the fourth quarter. Barclays PLC now owns 33,345 shares of the company’s stock worth $40,000 after buying an additional 21,868 shares during the last quarter. AQR Capital Management LLC lifted its position in Offerpad Solutions by 69.6% in the first quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock worth $40,000 after buying an additional 9,979 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Offerpad Solutions during the second quarter worth $44,000. 39.44% of the stock is currently owned by hedge funds and other institutional investors.

Offerpad Solutions Stock Down 6.9%

Shares of OPAD opened at $0.62 on Friday. The stock has a market capitalization of $29.46 million, a price-to-earnings ratio of -0.40 and a beta of 2.39. Offerpad Solutions has a 1 year low of $0.61 and a 1 year high of $6.35. The business’s 50 day simple moving average is $0.87 and its 200-day simple moving average is $1.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.48 and a quick ratio of 0.43.

Offerpad Solutions (NYSE:OPAD) last posted its earnings results on Monday, February 23rd. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. Offerpad Solutions had a negative return on equity of 135.22% and a negative net margin of 8.17%.The firm had revenue of $114.12 million during the quarter, compared to the consensus estimate of $159.00 million. As a group, equities analysts expect that Offerpad Solutions will post -2.16 earnings per share for the current fiscal 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.