Offerpad Solutions (NYSE:OPAD) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Offerpad Solutions (NYSE:OPAD) in a research report released on Monday, Benzinga reports. The firm currently has a $18.00 target price on the stock.

Several other equities research analysts have also issued reports on OPAD. JMP Securities lifted their price target on shares of Offerpad Solutions from $11.00 to $14.00 and gave the company a market outperform rating in a research note on Friday, June 30th. Jefferies Financial Group lifted their price objective on Offerpad Solutions from $7.50 to $11.00 and gave the stock a hold rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Offerpad Solutions currently has an average rating of Hold and a consensus target price of $15.20.

Offerpad Solutions Price Performance

Shares of OPAD opened at $10.54 on Monday. The firm’s 50 day moving average is $11.27 and its 200-day moving average is $9.53. The stock has a market capitalization of $287.00 million, a P/E ratio of -0.68 and a beta of 1.91. Offerpad Solutions has a 12-month low of $5.63 and a 12-month high of $20.70.

Offerpad Solutions (NYSE:OPAD) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.36) by $0.52. Offerpad Solutions had a negative net margin of 12.10% and a negative return on equity of 174.50%. The business had revenue of $230.15 million during the quarter, compared to the consensus estimate of $188.52 million. As a group, equities research analysts forecast that Offerpad Solutions will post -4.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Offerpad Solutions

A number of hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its stake in Offerpad Solutions by 43.4% during the second 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. acquired a new stake in Offerpad Solutions during the first quarter worth $42,000. Charles Schwab Investment Management Inc. boosted its position in shares of Offerpad Solutions by 2.5% during 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. Royce & Associates LP purchased a new position in shares of Offerpad Solutions during the second quarter worth $141,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Offerpad Solutions during the second quarter worth $167,000.

Offerpad Solutions Company Profile

Offerpad Solutions Inc, together with its subsidiaries, engages in buying, selling, renting, and renovating properties to homeowners in the United States. It operates iBuying, a real estate solutions platform for on-demand customer. The company's platform enables customers to sell and buy homes online with streamlined access to ancillary services, such as mortgage and title insurance services.