Offerpad Solutions (NYSE:OPAD) Earns Market Outperform Rating from JMP Securities

Offerpad Solutions (NYSE:OPAD)‘s stock had its “market outperform” rating reissued by investment analysts at JMP Securities in a note issued to investors on Monday,Benzinga reports. They currently have a $4.50 target price on the stock. JMP Securities’ price objective would suggest a potential upside of 29.31% from the company’s current price.

Several other equities analysts have also recently commented on OPAD. Jefferies Financial Group lowered their target price on shares of Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating on the stock in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating on the stock in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.13.

Offerpad Solutions Trading Down 0.9 %

OPAD opened at $3.48 on Monday. The business’s 50 day moving average is $3.66 and its 200-day moving average is $3.98. The stock has a market cap of $95.25 million, a PE ratio of -1.58 and a beta of 2.14. Offerpad Solutions has a twelve month low of $2.57 and a twelve month high of $10.89.

Offerpad Solutions (NYSE:OPAD) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.05). The business had revenue of $208.07 million during the quarter, compared to the consensus estimate of $205.17 million. Offerpad Solutions had a negative return on equity of 72.88% and a negative net margin of 6.12%. During the same period in the previous year, the company posted ($0.73) EPS. As a group, analysts forecast that Offerpad Solutions will post -2.16 EPS for the current year.

Institutional Trading of Offerpad Solutions

A number of large investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new stake in Offerpad Solutions during the third quarter valued at about $2,417,000. Bank of New York Mellon Corp acquired a new stake in shares of Offerpad Solutions during the second quarter valued at approximately $111,000. Barclays PLC lifted its position in shares of Offerpad Solutions by 133.3% in the 3rd quarter. Barclays PLC now owns 20,813 shares of the company’s stock valued at $83,000 after acquiring an additional 11,891 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Offerpad Solutions by 4,655.6% in the 2nd quarter. Rhumbline Advisers now owns 11,461 shares of the company’s stock worth $51,000 after purchasing an additional 11,220 shares during the period. 39.44% of the stock is currently owned by institutional investors.

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.