Offerpad Solutions (NYSE:OPAD) Earns Market Outperform Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Offerpad Solutions (NYSE:OPAD) in a research report report published on Monday morning,Benzinga reports. JMP Securities currently has a $4.50 target price on the stock.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group decreased their price objective on shares of Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating for the company in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.13.

Offerpad Solutions Stock Down 4.8 %

OPAD stock opened at $3.34 on Monday. The business has a 50 day moving average of $3.67 and a 200 day moving average of $3.97. The firm has a market cap of $91.43 million, a PE ratio of -1.52 and a beta of 2.14. Offerpad Solutions has a twelve month low of $2.57 and a twelve month high of $10.89.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.05). The company had revenue of $208.07 million for the quarter, compared to the consensus estimate of $205.17 million. Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. During the same quarter in the previous year, the business earned ($0.73) earnings per share. On average, research analysts expect that Offerpad Solutions will post -2.16 earnings per share for the current fiscal year.

Institutional Trading of Offerpad Solutions

A number of institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its position in Offerpad Solutions by 4,655.6% during the second quarter. Rhumbline Advisers now owns 11,461 shares of the company’s stock valued at $51,000 after purchasing an additional 11,220 shares during the period. Barclays PLC raised its stake in Offerpad Solutions by 133.3% during the 3rd quarter. Barclays PLC now owns 20,813 shares of the company’s stock valued at $83,000 after buying an additional 11,891 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Offerpad Solutions during the 2nd quarter valued at $111,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Offerpad Solutions in the 3rd quarter worth $2,417,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

Offerpad Solutions Company Profile

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.