Offerpad Solutions Inc. (NYSE:OPAD) Given Average Recommendation of “Hold” by Analysts

Shares of Offerpad Solutions Inc. (NYSE:OPAD) have been assigned an average rating of “Hold” from the six analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $2.25.

OPAD has been the subject of several analyst reports. Alliance Global Partners began coverage on shares of Offerpad Solutions in a research report on Thursday, December 11th. They set a “buy” rating and a $3.50 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Offerpad Solutions in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods reduced their price objective on shares of Offerpad Solutions from $1.75 to $1.00 and set a “market perform” rating for the company in a research note on Wednesday, February 25th. Finally, iA Financial set a $3.50 target price on shares of Offerpad Solutions in a research report on Thursday, December 11th.

Institutional Trading of Offerpad Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in shares of Offerpad Solutions by 69.6% in the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock worth $40,000 after purchasing an additional 9,979 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in Offerpad Solutions during the 3rd quarter valued at about $79,000. Barclays PLC raised its stake in Offerpad Solutions by 190.5% in the fourth quarter. Barclays PLC now owns 33,345 shares of the company’s stock valued at $40,000 after buying an additional 21,868 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Offerpad Solutions in the fourth quarter valued at about $27,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Offerpad Solutions in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

Offerpad Solutions Trading Down 0.4%

OPAD opened at $0.75 on Tuesday. The firm has a market cap of $35.27 million, a price-to-earnings ratio of -0.48 and a beta of 2.39. The company has a current ratio of 1.48, a quick ratio of 0.43 and a debt-to-equity ratio of 0.38. Offerpad Solutions has a 12 month low of $0.70 and a 12 month high of $6.35. The stock has a fifty day moving average price of $1.08 and a 200-day moving average price of $2.26.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. Offerpad Solutions had a negative return on equity of 135.22% and a negative net margin of 8.17%.The firm had revenue of $114.12 million during the quarter, compared to analysts’ expectations of $159.00 million. As a group, equities research analysts anticipate that Offerpad Solutions will post -2.16 earnings per share for the current fiscal year.

Offerpad Solutions Company Profile

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.