Offerpad Solutions Inc. (NYSE:OPAD) Receives $11.40 Average PT from Analysts

Shares of Offerpad Solutions Inc. (NYSE:OPAD) have been given an average recommendation of “Hold” by the five ratings firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $11.40.

Several research firms have recently commented on OPAD. JPMorgan Chase & Co. decreased their price target 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. The Goldman Sachs Group decreased their price target 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $12.00 price target on shares of Offerpad Solutions in a report on Friday, April 12th.

Offerpad Solutions Price Performance

Shares of OPAD stock opened at $7.42 on Wednesday. The firm has a market cap of $202.42 million, a P/E ratio of -1.59 and a beta of 2.07. Offerpad Solutions has a 1-year low of $6.00 and a 1-year high of $15.19. The firm has a fifty day moving average of $8.08 and a two-hundred day moving average of $8.76.

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

Institutional Trading of Offerpad Solutions

An institutional investor recently raised its position in Offerpad Solutions stock. Citigroup Inc. boosted its position in Offerpad Solutions Inc. (NYSE:OPAD) by 60,888.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,956 shares of the company’s stock after purchasing an additional 21,920 shares during the quarter. Citigroup Inc. owned about 0.08% of Offerpad Solutions worth $214,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 39.44% of the company’s stock.

Offerpad Solutions Company Profile

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.