Offerpad Solutions Inc. (NYSE:OPAD – Get Rating) – Analysts at Jefferies Financial Group issued their Q1 2023 earnings per share (EPS) estimates for Offerpad Solutions in a research note issued on Tuesday, May 31st. Jefferies Financial Group analyst J. Colantuoni forecasts that the company will post earnings of $0.15 per share for the quarter. Jefferies Financial Group also issued estimates for Offerpad Solutions’ Q2 2023 earnings at $0.09 EPS, Q3 2023 earnings at $0.01 EPS and Q4 2023 earnings at $0.00 EPS.
OPAD has been the subject of a number of other reports. Zacks Investment Research upgraded Offerpad Solutions from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a report on Saturday, May 21st. Keefe, Bruyette & Woods started coverage on Offerpad Solutions in a report on Monday, February 14th. They set a “market perform” rating and a $15.00 target price for the company. Finally, The Goldman Sachs Group started coverage on Offerpad Solutions in a report on Wednesday, March 30th. They set a “neutral” rating and a $6.00 target price for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Offerpad Solutions has an average rating of “Buy” and an average target price of 9.69.
Offerpad Solutions (NYSE:OPAD – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported 0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of 0.03 by 0.13. The business had revenue of 1.37 billion for the quarter, compared to analyst estimates of 1.14 billion.
In other news, Director Ryan Ohara purchased 10,000 shares of the business’s stock in a transaction on Tuesday, March 8th. The shares were bought at an average price of 4.17 per share, with a total value of 41,700.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth D. Degiorgio purchased 25,000 shares of the business’s stock in a transaction on Friday, March 11th. The shares were purchased at an average cost of 3.98 per share, for a total transaction of 99,500.00. The disclosure for this purchase can be found here. 59.28% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in OPAD. Ghisallo Capital Management LLC acquired a new position in shares of Offerpad Solutions in the third quarter valued at approximately $3,096,000. Penserra Capital Management LLC purchased a new stake in shares of Offerpad Solutions in the third quarter valued at approximately $97,000. Morgan Stanley purchased a new stake in shares of Offerpad Solutions in the third quarter valued at approximately $434,000. Islet Management LP purchased a new stake in shares of Offerpad Solutions in the third quarter valued at approximately $6,664,000. Finally, Verition Fund Management LLC purchased a new stake in Offerpad Solutions during the third quarter worth $477,000. 51.71% of the stock is currently owned by institutional investors and hedge funds.
About Offerpad Solutions (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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