JMP Securities Reiterates Market Outperform Rating for Offerpad Solutions (NYSE:OPAD)

Offerpad Solutions (NYSE:OPAD)‘s stock had its “market outperform” rating reiterated by JMP Securities in a report released on Friday, Benzinga reports. They presently have a $12.00 price objective on the stock. JMP Securities’ price target suggests a potential upside of 64.16% from the company’s previous close.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. cut their price objective on Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. The Goldman Sachs Group cut their price objective on Offerpad Solutions from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.40.

Offerpad Solutions Trading Up 1.5 %

Shares of Offerpad Solutions stock opened at $7.31 on Friday. Offerpad Solutions has a twelve month low of $6.00 and a twelve month high of $15.19. The stock has a market capitalization of $199.42 million, a P/E ratio of -1.57 and a beta of 2.07. The business’s fifty day moving average price is $8.35 and its 200 day moving average price is $8.85.

Offerpad Solutions (NYSE:OPAD) last issued its earnings results on Monday, February 26th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.15). Offerpad Solutions had a negative net margin of 8.92% and a negative return on equity of 93.45%. The firm had revenue of $240.46 million during the quarter, compared to analyst estimates of $256.60 million. During the same quarter in the previous year, the business posted ($7.35) EPS. As a group, sell-side analysts predict that Offerpad Solutions will post -1.03 EPS for the current year.

Institutional Trading of Offerpad Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. increased its holdings in Offerpad Solutions by 60,888.9% in the third quarter. Citigroup Inc. now owns 21,956 shares of the company’s stock valued at $214,000 after buying an additional 21,920 shares during the last quarter. Credit Suisse AG acquired a new position in Offerpad Solutions in the second quarter valued at approximately $69,000. Price T Rowe Associates Inc. MD boosted its stake in Offerpad Solutions by 154.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 54,666 shares of the company’s stock valued at $67,000 after acquiring an additional 33,152 shares during the period. Pathstone Family Office LLC acquired a new position in Offerpad Solutions in the third quarter valued at approximately $53,000. Finally, Legal & General Group Plc acquired a new position in Offerpad Solutions in the second quarter valued at approximately $47,000. 39.44% of the stock is owned by institutional investors.

About Offerpad Solutions

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.