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

Offerpad Solutions Inc. (NYSE:OPAD) has been assigned an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $11.40.

A number of equities research analysts have issued reports on OPAD shares. The Goldman Sachs Group reduced their price objective on shares of Offerpad Solutions from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. JPMorgan Chase & Co. decreased their price target 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 Down 5.2 %

Shares of NYSE:OPAD opened at $8.10 on Friday. The business’s 50 day moving average is $8.69 and its 200 day moving average is $9.06. Offerpad Solutions has a 12-month low of $6.00 and a 12-month high of $15.19. The stock has a market cap of $220.97 million, a price-to-earnings ratio of -1.73 and a beta of 2.08.

Offerpad Solutions (NYSE:OPAD) last posted its quarterly earnings data 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). Offerpad Solutions had a negative return on equity of 93.45% and a negative net margin of 8.92%. The firm had revenue of $240.46 million for the quarter, compared to analysts’ expectations of $256.60 million. During the same period in the prior year, the firm earned ($7.35) earnings per share. As a group, equities research analysts expect that Offerpad Solutions will post -1.03 earnings per share for the current year.

Hedge Funds Weigh In On Offerpad Solutions

Several institutional investors have recently bought and sold shares of OPAD. Barclays PLC raised its stake in shares of Offerpad Solutions by 21.7% in the fourth quarter. Barclays PLC now owns 11,285 shares of the company’s stock valued at $116,000 after buying an additional 2,013 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Offerpad Solutions by 43.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 21,514 shares of the company’s stock worth $47,000 after acquiring an additional 6,514 shares during the last quarter. Citigroup Inc. bought a new stake in Offerpad Solutions in the 1st quarter valued at about $42,000. Charles Schwab Investment Management Inc. lifted its holdings in Offerpad Solutions by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 358,937 shares of the company’s stock valued at $1,806,000 after purchasing an additional 8,859 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Offerpad Solutions by 62.0% during the fourth quarter. Northern Trust Corp now owns 31,952 shares of the company’s stock worth $328,000 after purchasing an additional 12,228 shares during the period. Hedge funds and other institutional investors own 39.44% of the company’s stock.

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.