Brokerages Set Offerpad Solutions Inc. (NYSE:OPAD) Price Target at $2.29

Shares of Offerpad Solutions Inc. (NYSE:OPAD) have received an average recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $2.2875.

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

Offerpad Solutions Trading Up 1.1%

Shares of Offerpad Solutions stock opened at $1.36 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.28 and a current ratio of 1.32. The firm has a 50-day moving average of $1.67 and a 200-day moving average of $2.39. Offerpad Solutions has a 52-week low of $0.91 and a 52-week high of $6.35. The stock has a market cap of $49.95 million, a PE ratio of -0.70 and a beta of 2.35.

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

Institutional Trading of Offerpad Solutions

Several institutional investors and hedge funds have recently modified their holdings of the business. Investure LLC acquired a new position in Offerpad Solutions during the third quarter worth about $2,175,000. Tudor Investment Corp ET AL acquired a new stake in shares of Offerpad Solutions in the 3rd quarter valued at approximately $79,000. Monograph Wealth Advisors LLC bought a new stake in shares of Offerpad Solutions during the 3rd quarter valued at approximately $248,000. Vanguard Group Inc. increased its position in Offerpad Solutions by 12.4% during the 3rd quarter. Vanguard Group Inc. now owns 790,570 shares of the company’s stock worth $3,297,000 after purchasing an additional 87,144 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Offerpad Solutions in the 2nd quarter valued at approximately $44,000. 39.44% of the stock is currently owned by 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.