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

Shares of Offerpad Solutions Inc. (NYSE:OPAD) have received a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $9.83.

A number of research firms recently commented on OPAD. JMP Securities lowered their price objective on shares of Offerpad Solutions from $12.00 to $9.00 and set a “market outperform” rating on the stock in a research note on Tuesday, May 7th. The Goldman Sachs Group lowered their price objective on shares of Offerpad Solutions from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. JPMorgan Chase & Co. lowered their price objective on shares of Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Offerpad Solutions from $6.25 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 8th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Offerpad Solutions stock. Citigroup Inc. increased its position in Offerpad Solutions Inc. (NYSE:OPAD) by 60,888.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 21,956 shares of the company’s stock after purchasing an additional 21,920 shares during the period. Citigroup Inc. owned about 0.08% of Offerpad Solutions worth $214,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 39.44% of the company’s stock.

Offerpad Solutions Stock Down 5.5 %

Shares of NYSE OPAD opened at $6.05 on Friday. The firm’s 50-day moving average price is $7.57 and its two-hundred day moving average price is $8.60. Offerpad Solutions has a 52-week low of $5.97 and a 52-week high of $15.19. The stock has a market capitalization of $165.07 million, a P/E ratio of -2.19 and a beta of 2.01.

Offerpad Solutions (NYSE:OPAD) last announced its quarterly earnings results 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 7.60% and a negative return on equity of 69.44%. 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, equities research analysts expect that Offerpad Solutions will post -1.6 earnings per share 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.