Offerpad Solutions’ (OPAD) Market Outperform Rating Reaffirmed at JMP Securities

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

OPAD has been the subject of a number of other research reports. Keefe, Bruyette & Woods reduced their price target on 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 cut their price objective on shares of Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, October 22nd. Four 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, Offerpad Solutions presently has a consensus rating of “Hold” and an average target price of $5.13.

Offerpad Solutions Price Performance

Shares of NYSE OPAD opened at $3.54 on Monday. The stock has a market capitalization of $96.89 million, a price-to-earnings ratio of -1.60 and a beta of 2.14. The business has a 50-day moving average of $3.65 and a 200-day moving average of $3.99. Offerpad Solutions has a fifty-two week low of $2.57 and a fifty-two week high of $10.89.

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

Institutional Investors Weigh In On Offerpad Solutions

Several hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers raised 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 in the last quarter. Barclays PLC grew its stake in shares of Offerpad Solutions by 133.3% in the third quarter. Barclays PLC now owns 20,813 shares of the company’s stock worth $83,000 after purchasing an additional 11,891 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Offerpad Solutions in the second quarter worth $111,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Offerpad Solutions in the third quarter worth $2,417,000. 39.44% of the stock is currently owned by institutional investors and hedge funds.

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.