Analysts Set Offerpad Solutions Inc. (NYSE:OPAD) Price Target at $2.41

Shares of Offerpad Solutions Inc. (NYSE:OPAD – Get Rating) have earned an average rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $2.41.

OPAD has been the topic of a number of research reports. JMP Securities restated a “market outperform” rating and issued a $1.00 price objective on shares of Offerpad Solutions in a report on Tuesday, March 7th. JPMorgan Chase & Co. downgraded Offerpad Solutions from an “overweight” rating to a “neutral” rating in a report on Wednesday, March 8th. Finally, Keefe, Bruyette & Woods downgraded Offerpad Solutions from a “market perform” rating to an “underperform” rating in a report on Tuesday, December 13th.

Institutional Investors Weigh In On Offerpad Solutions

Hedge funds have recently modified their holdings of the stock. State Street Corp increased its holdings in Offerpad Solutions by 384.7% during the 2nd quarter. State Street Corp now owns 1,213,039 shares of the company’s stock worth $2,644,000 after purchasing an additional 962,783 shares during the last quarter. Barclays PLC increased its holdings in Offerpad Solutions by 4,209.1% during the 3rd quarter. Barclays PLC now owns 870,060 shares of the company’s stock worth $1,053,000 after purchasing an additional 849,869 shares during the last quarter. Northern Trust Corp increased its holdings in Offerpad Solutions by 407.4% during the 2nd quarter. Northern Trust Corp now owns 624,037 shares of the company’s stock worth $1,361,000 after purchasing an additional 501,046 shares during the last quarter. Perigon Wealth Management LLC purchased a new stake in Offerpad Solutions during the 2nd quarter worth approximately $517,000. Finally, Renaissance Technologies LLC purchased a new stake in Offerpad Solutions during the 3rd quarter worth approximately $261,000. 51.96% of the stock is currently owned by hedge funds and other institutional investors.

Offerpad Solutions Trading Up 3.3 %

Shares of NYSE:OPAD opened at $0.59 on Friday. The stock’s 50-day moving average price is $0.71 and its two-hundred day moving average price is $0.83. Offerpad Solutions has a 12-month low of $0.38 and a 12-month high of $6.37. The firm has a market cap of $146.53 million, a price-to-earnings ratio of -0.97 and a beta of 1.81.

Offerpad Solutions Company Profile

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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 provides customer-centric experience, which enables them to sell and buy homes online with streamlined access to ancillary services, such as mortgage and title insurance services.