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

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

Several other analysts have also recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Offerpad Solutions from $8.00 to $7.00 and set a neutral rating on the stock in a research report on Tuesday, February 27th. JPMorgan Chase & Co. reduced their target price 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $11.40.

Offerpad Solutions Trading Down 5.3 %

Shares of NYSE:OPAD opened at $6.92 on Friday. The company has a 50 day moving average of $8.30 and a 200 day moving average of $8.82. The stock has a market cap of $188.78 million, a P/E ratio of -1.48 and a beta of 2.07. Offerpad Solutions has a 12 month low of $6.00 and a 12 month high of $15.19.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.15). The firm had revenue of $240.46 million for the quarter, compared to analysts’ expectations of $256.60 million. Offerpad Solutions had a negative net margin of 8.92% and a negative return on equity of 93.45%. During the same period in the prior year, the firm posted ($7.35) EPS. On average, equities analysts forecast that Offerpad Solutions will post -1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Offerpad Solutions

Institutional investors have recently modified their holdings of the company. Citigroup Inc. bought a new position in shares of Offerpad Solutions during the 1st quarter valued at about $42,000. Barclays PLC increased its position in shares of Offerpad Solutions by 21.7% during the 4th quarter. Barclays PLC now owns 11,285 shares of the company’s stock valued at $116,000 after purchasing an additional 2,013 shares during the last quarter. Boothbay Fund Management LLC bought a new position in shares of Offerpad Solutions during the 2nd quarter valued at about $180,000. Goldman Sachs Group Inc. bought a new position in shares of Offerpad Solutions during the 4th quarter valued at about $154,000. Finally, Cetera Investment Advisers bought a new position in Offerpad Solutions during the 1st quarter worth approximately $103,000. 39.44% of the stock is currently owned by institutional investors.

Offerpad Solutions Company Profile

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.