Offerpad Solutions Inc. (NYSE:OPAD) Given Consensus Rating of “Buy” by Brokerages

Shares of Offerpad Solutions Inc. (NYSE:OPADGet Rating) have earned an average rating of “Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is 9.50.

Several analysts recently commented on OPAD shares. Zacks Investment Research upgraded shares of Offerpad Solutions from a “sell” rating to a “hold” rating and set a $4.00 price target for the company in a report on Saturday, February 5th. The Goldman Sachs Group initiated coverage on shares of Offerpad Solutions in a research report on Wednesday, March 30th. They set a “neutral” rating and a $6.00 price objective on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Offerpad Solutions in a research report on Monday, February 14th. They set a “market perform” rating and a $15.00 price objective on the stock. Finally, Berenberg Bank initiated coverage on shares of Offerpad Solutions in a research report on Tuesday, January 11th. They set a “buy” rating and a $7.00 price objective on the stock.

In other news, Director Kenneth D. Degiorgio purchased 25,000 shares of the company’s stock in a transaction dated Friday, March 11th. The shares were bought at an average price of 3.98 per share, with a total value of 99,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ryan Ohara purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, March 8th. The stock was purchased at an average cost of 4.17 per share, for a total transaction of 41,700.00. The disclosure for this purchase can be found here.

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Offerpad Solutions by 880.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,921 shares of the company’s stock worth $26,000 after acquiring an additional 3,521 shares during the period. LL Funds LLC acquired a new stake in Offerpad Solutions during the fourth quarter worth $641,600,000. Luxor Capital Group LP boosted its stake in Offerpad Solutions by 27.9% during the fourth quarter. Luxor Capital Group LP now owns 4,237,558 shares of the company’s stock worth $27,120,000 after buying an additional 923,143 shares in the last quarter. Northern Trust Corp acquired a new stake in Offerpad Solutions during the fourth quarter worth $805,000. Finally, Ulysses Management LLC boosted its stake in Offerpad Solutions by 6.0% during the fourth quarter. Ulysses Management LLC now owns 3,335,796 shares of the company’s stock worth $21,349,000 after buying an additional 189,066 shares in the last quarter. 7.87% of the stock is currently owned by institutional investors and hedge funds.

OPAD stock opened at 4.95 on Thursday. The firm has a 50 day simple moving average of 4.79 and a 200 day simple moving average of 5.98. Offerpad Solutions has a 52 week low of 2.96 and a 52 week high of 20.97.

Offerpad Solutions (NYSE:OPADGet Rating) last posted its quarterly earnings results on Wednesday, February 23rd. The company reported 0.05 EPS for the quarter, topping the consensus estimate of -0.09 by 0.14. The company had revenue of 867.54 million for the quarter, compared to analyst estimates of 673.50 million. As a group, analysts anticipate that Offerpad Solutions will post -0.14 earnings per share for the current year.

Offerpad Solutions Company Profile (Get Rating)

Offerpad Solutions Inc, together with its subsidiaries, engages in buying, selling, renting, and renovating properties to homeowners in the United States. It operates iBuying, a real estate solutions platform for on-demand customer. The company provides customer-centric experience, which enables them to sell and buy homes online with streamlined access to ancillary services, such as mortgage and title insurance services.

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