JMP Securities Reiterates "Market Outperform" Rating for Offerpad Solutions (NYSE:OPAD)

Offerpad Solutions (NYSE:OPAD - Get Free Report)'s stock had its "market outperform" rating reiterated by investment analysts at JMP Securities in a report released on Friday, Benzinga reports. They currently have a $12.00 target price on the stock. JMP Securities' target price would suggest a potential upside of 62.38% from the company's current price.

A number of other equities analysts have also recently weighed in on OPAD. JPMorgan Chase & Co. decreased their price objective on shares of Offerpad Solutions from $10.00 to $9.00 and set a "neutral" rating for the company in a research report on Tuesday, February 27th. The Goldman Sachs Group decreased their price objective on shares of Offerpad Solutions from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, February 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $11.40.

Offerpad Solutions Stock Up 2.6 %

Shares of NYSE OPAD traded up $0.19 during trading on Friday, hitting $7.39. 16,085 shares of the company traded hands, compared to its average volume of 24,717. Offerpad Solutions has a 1 year low of $6.00 and a 1 year high of $15.19. The company has a 50-day moving average price of $8.35 and a 200-day moving average price of $8.85. The firm has a market capitalization of $201.60 million, a P/E ratio of -1.58 and a beta of 2.07.

Offerpad Solutions (NYSE:OPAD - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $256.60 million. During the same period in the prior year, the firm earned ($7.35) earnings per share. Research analysts predict that Offerpad Solutions will post -1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. lifted its holdings in shares of Offerpad Solutions by 60,888.9% during the 3rd quarter. Citigroup Inc. now owns 21,956 shares of the company's stock worth $214,000 after acquiring an additional 21,920 shares during the period. Credit Suisse AG bought a new position in shares of Offerpad Solutions in the second quarter worth about $69,000. Price T Rowe Associates Inc. MD raised its stake in shares of Offerpad Solutions by 154.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 54,666 shares of the company's stock worth $67,000 after acquiring an additional 33,152 shares during the last quarter. Pathstone Family Office LLC bought a new position in shares of Offerpad Solutions in the third quarter worth about $53,000. Finally, Legal & General Group Plc bought a new position in shares of Offerpad Solutions in the second quarter worth about $47,000. 39.44% of the stock is currently owned by institutional investors and hedge funds.

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.