Analysts Set Offerpad Solutions Inc. (NYSE:OPAD) Price Target at $11.40

Offerpad Solutions Inc. (NYSE:OPAD) has been given an average rating of “Hold” by the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $11.40.

Several analysts have commented on the company. JMP Securities reissued a “market outperform” rating and issued a $12.00 price objective on shares of Offerpad Solutions in a report on Friday, April 12th. The Goldman Sachs Group decreased their target price 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. Finally, JPMorgan Chase & Co. decreased their target price 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.

Hedge Funds Weigh In On Offerpad Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. lifted its position in Offerpad Solutions by 60,888.9% during the third quarter. Citigroup Inc. now owns 21,956 shares of the company’s stock worth $214,000 after buying an additional 21,920 shares in the last quarter. Credit Suisse AG purchased a new position in Offerpad Solutions during the second quarter worth approximately $69,000. Price T Rowe Associates Inc. MD lifted its position in Offerpad Solutions by 154.1% during the third quarter. Price T Rowe Associates Inc. MD now owns 54,666 shares of the company’s stock worth $67,000 after buying an additional 33,152 shares in the last quarter. Pathstone Family Office LLC purchased a new position in Offerpad Solutions during the third quarter worth approximately $53,000. Finally, Legal & General Group Plc purchased a new position in Offerpad Solutions during the second quarter worth approximately $47,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

Offerpad Solutions Stock Down 3.6 %

Offerpad Solutions stock opened at $7.49 on Wednesday. Offerpad Solutions has a 52 week low of $6.00 and a 52 week high of $15.19. The business’s 50-day moving average price is $8.20 and its 200 day moving average price is $8.78. The firm has a market cap of $204.33 million, a price-to-earnings ratio of -1.60 and a beta of 2.07.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate 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 business had revenue of $240.46 million during the quarter, compared to analyst estimates of $256.60 million. During the same period in the previous year, the business posted ($7.35) earnings per share. Equities analysts expect that Offerpad Solutions will post -1.03 EPS for the current year.

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.