Offerpad Solutions Inc. (NYSE:OPAD) Given Average Recommendation of “Hold” by Brokerages

Offerpad Solutions Inc. (NYSE:OPAD) has earned an average rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $11.40.

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of 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 objective on shares of Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th.

Offerpad Solutions Trading Down 5.2 %

Shares of NYSE OPAD opened at $8.10 on Friday. The stock has a market capitalization of $220.97 million, a price-to-earnings ratio of -1.73 and a beta of 2.08. Offerpad Solutions has a 12-month low of $6.00 and a 12-month high of $15.19. The firm’s 50-day moving average price is $8.69 and its 200-day moving average price is $9.06.

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

Hedge Funds Weigh In On Offerpad Solutions

Several institutional investors have recently made changes to their positions in OPAD. Vanguard Group Inc. grew its holdings in Offerpad Solutions by 21.3% during the 4th quarter. Vanguard Group Inc. now owns 1,160,939 shares of the company’s stock worth $11,900,000 after acquiring an additional 204,167 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Offerpad Solutions in the 4th quarter worth approximately $154,000. Barclays PLC lifted its position in shares of Offerpad Solutions by 21.7% in the 4th quarter. Barclays PLC now owns 11,285 shares of the company’s stock worth $116,000 after purchasing an additional 2,013 shares during the period. Northern Trust Corp boosted its stake in shares of Offerpad Solutions by 62.0% during the fourth quarter. Northern Trust Corp now owns 31,952 shares of the company’s stock valued at $328,000 after purchasing an additional 12,228 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in Offerpad Solutions during the fourth quarter valued at approximately $240,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

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.