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

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

A number of research analysts have weighed in on the company. The Goldman Sachs Group reduced their price target on Offerpad Solutions from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. JPMorgan Chase & Co. reduced their price target on Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Finally, JMP Securities reissued a “market outperform” rating and set a $12.00 price target on shares of Offerpad Solutions in a research note on Friday, April 12th.

Institutional Investors Weigh In On Offerpad Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its stake in Offerpad Solutions by 21.7% during the fourth quarter. Barclays PLC now owns 11,285 shares of the company’s stock worth $116,000 after acquiring an additional 2,013 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Offerpad Solutions by 43.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 21,514 shares of the company’s stock worth $47,000 after buying an additional 6,514 shares during the period. Citigroup Inc. purchased a new stake in shares of Offerpad Solutions in the first quarter worth about $42,000. Charles Schwab Investment Management Inc. boosted its position in shares of Offerpad Solutions by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 358,937 shares of the company’s stock worth $1,806,000 after buying an additional 8,859 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Offerpad Solutions by 62.0% in the fourth quarter. Northern Trust Corp now owns 31,952 shares of the company’s stock worth $328,000 after buying an additional 12,228 shares during the period. 39.44% of the stock is currently owned by institutional investors and hedge funds.

Offerpad Solutions Stock Down 3.6 %

Shares of Offerpad Solutions stock opened at $7.49 on Wednesday. Offerpad Solutions has a fifty-two week low of $6.00 and a fifty-two week high of $15.19. The firm has a market cap of $204.33 million, a PE ratio of -1.60 and a beta of 2.07. The business’s fifty day moving average is $8.20 and its two-hundred day moving average is $8.78.

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 business 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 company earned ($7.35) EPS. Equities research analysts anticipate that Offerpad Solutions will post -1.03 EPS for the current year.

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.