Offerpad Solutions Inc. (NYSE:OPAD) Receives $11.40 Consensus PT from Brokerages

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

A number of research firms have recently issued reports on OPAD. The Goldman Sachs Group lowered their target price on Offerpad Solutions from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. reduced their target price on shares of Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th.

Offerpad Solutions Stock Performance

NYSE OPAD opened at $8.54 on Friday. Offerpad Solutions has a one year low of $6.00 and a one year high of $15.19. The company’s 50 day moving average price is $8.71 and its 200 day moving average price is $9.07. The firm has a market capitalization of $232.97 million, a price-to-earnings ratio of -1.83 and a beta of 2.08.

Offerpad Solutions (NYSE:OPAD) last posted its earnings results 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 net margin of 8.92% and a negative return on equity of 93.45%. The business had revenue of $240.46 million for the quarter, compared to analyst estimates of $256.60 million. During the same quarter in the previous year, the firm posted ($7.35) EPS. Sell-side analysts forecast that Offerpad Solutions will post -1.03 EPS for the current fiscal year.

Institutional Trading of Offerpad Solutions

Several institutional investors and hedge funds have recently bought and sold shares of OPAD. BNP Paribas Arbitrage SNC acquired a new position in shares of Offerpad Solutions in the 3rd quarter valued at about $34,000. HighTower Advisors LLC bought a new position in Offerpad Solutions in the fourth quarter worth about $35,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Offerpad Solutions during the third quarter valued at approximately $38,000. Alliancebernstein L.P. grew its holdings in shares of Offerpad Solutions by 50.5% during the fourth quarter. Alliancebernstein L.P. now owns 89,700 shares of the company’s stock valued at $41,000 after purchasing an additional 30,100 shares during the last quarter. Finally, Citigroup Inc. acquired a new stake in shares of Offerpad Solutions during the 1st quarter worth approximately $42,000. Institutional investors and hedge funds 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.