Brokerages Set Offerpad Solutions Inc. (NYSE:OPAD) PT at $11.40

Offerpad Solutions Inc. (NYSE:OPAD) has been assigned a consensus recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $11.40.

OPAD has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. The Goldman Sachs Group reduced 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 note on Tuesday, February 27th. Finally, JMP Securities reissued a “market outperform” rating and set a $12.00 price objective on shares of Offerpad Solutions in a research note on Friday, April 12th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Offerpad Solutions stock. Citigroup Inc. raised its stake in Offerpad Solutions Inc. (NYSE:OPAD) by 60,888.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,956 shares of the company’s stock after buying an additional 21,920 shares during the quarter. Citigroup Inc. owned about 0.08% of Offerpad Solutions worth $214,000 at the end of the most recent reporting period. 39.44% of the stock is owned by institutional investors.

Offerpad Solutions Trading Down 0.3 %

Shares of NYSE OPAD opened at $7.42 on Wednesday. The firm has a market capitalization of $202.42 million, a PE ratio of -1.59 and a beta of 2.07. Offerpad Solutions has a 1 year low of $6.00 and a 1 year high of $15.19. The firm’s 50-day moving average is $8.08 and its 200-day moving average is $8.76.

Offerpad Solutions (NYSE:OPAD) last issued its earnings results 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). The business had revenue of $240.46 million during the quarter, compared to the consensus estimate 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 last year, the business posted ($7.35) EPS. As a group, equities research analysts anticipate that Offerpad Solutions will post -1.03 earnings per share for the current fiscal 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.