Brokerages Set Offerpad Solutions Inc. (NYSE:OPAD) PT at $2.38

Offerpad Solutions Inc. (NYSE:OPAD - Get Free Report) has been assigned a consensus recommendation of "Hold" from the six research firms that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $2.38.

A number of research analysts have issued reports on the stock. JMP Securities reaffirmed a "market perform" rating on shares of Offerpad Solutions in a report on Tuesday, May 6th. Citigroup cut Offerpad Solutions to a "market perform" rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods decreased their target price on Offerpad Solutions from $2.25 to $1.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. The Goldman Sachs Group dropped their price target on Offerpad Solutions from $2.00 to $1.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Finally, Citizens Jmp downgraded Offerpad Solutions from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 6th.

Hedge Funds Weigh In On Offerpad Solutions

A number of institutional investors have recently made changes to their positions in the stock. Ieq Capital LLC acquired a new position in Offerpad Solutions in the 1st quarter valued at about $353,000. Deutsche Bank AG purchased a new position in shares of Offerpad Solutions during the fourth quarter valued at approximately $111,000. XTX Topco Ltd acquired a new stake in Offerpad Solutions during the first quarter worth approximately $32,000. JPMorgan Chase & Co. grew its stake in Offerpad Solutions by 161.6% in the 4th quarter. JPMorgan Chase & Co. now owns 28,173 shares of the company's stock worth $80,000 after acquiring an additional 17,404 shares during the period. Finally, Northern Trust Corp raised its holdings in Offerpad Solutions by 22.1% in the 4th quarter. Northern Trust Corp now owns 95,866 shares of the company's stock valued at $273,000 after acquiring an additional 17,322 shares during the last quarter. 39.44% of the stock is owned by institutional investors and hedge funds.

Offerpad Solutions Price Performance

NYSE OPAD traded down $0.36 on Monday, hitting $1.94. 1,968,006 shares of the company's stock were exchanged, compared to its average volume of 2,106,424. Offerpad Solutions has a fifty-two week low of $0.91 and a fifty-two week high of $5.13. The firm has a market cap of $53.29 million, a price-to-earnings ratio of -0.89 and a beta of 2.12. The firm's 50-day moving average price is $1.27 and its two-hundred day moving average price is $1.66.

Offerpad Solutions (NYSE:OPAD - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.58) by $0.04. Offerpad Solutions had a negative net margin of 7.52% and a negative return on equity of 105.89%. The business had revenue of $160.70 million during the quarter, compared to the consensus estimate of $180.51 million. On average, research analysts predict that Offerpad Solutions will post -2.16 earnings per share for the current fiscal year.

Offerpad Solutions Company Profile

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.