Offerpad Solutions Inc. (NYSE:OPAD) Receives $2.29 Average PT from Analysts

Shares of Offerpad Solutions Inc. (NYSE:OPAD) have received an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $2.2875.

A number of analysts have recently issued reports on OPAD shares. Industrial Alliance Securities set a $3.50 price target on shares of Offerpad Solutions in a report on Thursday, December 11th. Alliance Global Partners assumed coverage on Offerpad Solutions in a research report on Thursday, December 11th. They issued a “buy” rating and a $3.50 target price on the stock. Wall Street Zen raised Offerpad Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Offerpad Solutions in a research report on Friday, October 31st.

Offerpad Solutions Stock Down 0.4%

Shares of OPAD opened at $1.35 on Thursday. Offerpad Solutions has a 52-week low of $0.91 and a 52-week high of $6.35. The company has a quick ratio of 0.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $2.01 and a two-hundred day simple moving average of $2.35. The company has a market capitalization of $49.58 million, a PE ratio of -0.69 and a beta of 2.31.

Offerpad Solutions (NYSE:OPAD) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). Offerpad Solutions had a negative net margin of 8.74% and a negative return on equity of 147.32%. The firm had revenue of $132.68 million during the quarter, compared to analysts’ expectations of $173.01 million. As a group, equities analysts forecast that Offerpad Solutions will post -2.16 EPS for the current year.

Institutional Investors Weigh In On Offerpad Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in OPAD. Investure LLC acquired a new position in Offerpad Solutions during the 3rd quarter worth about $2,175,000. Ieq Capital LLC acquired a new stake in shares of Offerpad Solutions during the first quarter worth about $353,000. Vanguard Group Inc. boosted its stake in shares of Offerpad Solutions by 12.4% in the third quarter. Vanguard Group Inc. now owns 790,570 shares of the company’s stock valued at $3,297,000 after purchasing an additional 87,144 shares during the period. Monograph Wealth Advisors LLC acquired a new position in shares of Offerpad Solutions in the third quarter valued at approximately $248,000. Finally, Jane Street Group LLC acquired a new position in shares of Offerpad Solutions in the second quarter valued at approximately $44,000. 39.44% of the stock is owned by hedge funds and other institutional investors.

About Offerpad Solutions

Offerpad Solutions, Inc, listed on the NYSE under the ticker OPAD, is a technology-driven real estate platform specializing in the direct purchase, renovation and resale of single-family homes. Since its founding in 2015 and headquartered in Chandler, Arizona, the company leverages proprietary data analytics and algorithms to deliver fast, all-cash offers and flexible closing timelines to homeowners in select markets across the United States.

The company’s core services include its Instant Offer program for home acquisitions, in-house renovation and repair services to prepare properties for resale, and a suite of ancillary offerings such as title and escrow, home trade-in solutions and mortgage origination through strategic partnerships.