Offerpad Solutions (NYSE:OPAD) Stock Rating Reaffirmed by JMP Securities

JMP Securities reissued their market outperform rating on shares of Offerpad Solutions (NYSE:OPAD) in a research note published on Friday morning, Benzinga reports. They currently have a $12.00 target price on the stock.

A number of other brokerages also recently weighed in on OPAD. The Goldman Sachs Group cut 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. JPMorgan Chase & Co. cut 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $11.40.

Offerpad Solutions Stock Down 5.3 %

NYSE OPAD opened at $6.92 on Friday. The firm has a 50-day moving average price of $8.30 and a two-hundred day moving average price of $8.82. Offerpad Solutions has a 12-month low of $6.00 and a 12-month high of $15.19. The company has a market capitalization of $188.78 million, a P/E ratio of -1.48 and a beta of 2.07.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.57) earnings per share 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 the consensus estimate of $256.60 million. During the same period last year, the company posted ($7.35) EPS. Equities analysts expect that Offerpad Solutions will post -1.03 EPS for the current year.

Hedge Funds Weigh In On Offerpad Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Offerpad Solutions by 5.2% in the 1st quarter. Geode Capital Management LLC now owns 1,465,487 shares of the company’s stock valued at $772,000 after acquiring an additional 73,046 shares during the period. State Street Corp increased its position in Offerpad Solutions by 384.7% in the 2nd quarter. State Street Corp now owns 1,213,039 shares of the company’s stock valued at $2,644,000 after acquiring an additional 962,783 shares during the period. Vanguard Group Inc. increased its position in Offerpad Solutions by 21.3% in the 4th quarter. Vanguard Group Inc. now owns 1,160,939 shares of the company’s stock valued at $11,900,000 after acquiring an additional 204,167 shares during the period. Barclays PLC increased its position in Offerpad Solutions by 1.8% in the 4th quarter. Barclays PLC now owns 885,497 shares of the company’s stock valued at $408,000 after acquiring an additional 15,437 shares during the period. Finally, Northern Trust Corp increased its position in Offerpad Solutions by 407.4% in the 2nd quarter. Northern Trust Corp now owns 624,037 shares of the company’s stock valued at $1,361,000 after acquiring an additional 501,046 shares during the period. 39.44% of the stock is currently owned by institutional investors and hedge funds.

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.