Offerpad Solutions Inc. (NYSE:OPAD) Receives $11.40 Average Target Price from Analysts

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

OPAD has been the subject of several recent analyst reports. The Goldman Sachs Group cut their target price on Offerpad Solutions from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. cut their price objective on Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th.

Institutional Investors Weigh In On Offerpad Solutions

Several institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SNC purchased a new stake in Offerpad Solutions during the 3rd quarter worth approximately $34,000. HighTower Advisors LLC purchased a new stake in shares of Offerpad Solutions during the fourth quarter worth $35,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Offerpad Solutions during the third quarter worth $38,000. Alliancebernstein L.P. raised its stake in shares of Offerpad Solutions by 50.5% in the fourth quarter. Alliancebernstein L.P. now owns 89,700 shares of the company’s stock valued at $41,000 after acquiring an additional 30,100 shares in the last quarter. Finally, Citigroup Inc. purchased a new position in Offerpad Solutions in the first quarter valued at $42,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

Offerpad Solutions Trading Up 1.6 %

Offerpad Solutions stock opened at $8.20 on Friday. The stock has a market cap of $223.70 million, a P/E ratio of -1.76 and a beta of 2.08. The company has a 50-day moving average price of $8.72 and a 200 day moving average price of $9.09. Offerpad Solutions has a 12-month low of $6.00 and a 12-month high of $15.19.

Offerpad Solutions (NYSE:OPAD) last announced its quarterly earnings results on Monday, February 26th. The company reported ($0.57) earnings per share (EPS) 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 analyst estimates of $256.60 million. During the same quarter in the prior year, the business earned ($7.35) EPS. As a group, analysts forecast 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.