Offerpad Solutions Inc. (NYSE:OPAD) Receives $2.25 Consensus Target Price from Brokerages

Shares of Offerpad Solutions Inc. (NYSE:OPAD) have been given a consensus rating of “Hold” by the six brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $2.25.

Several analysts recently commented on OPAD shares. Wall Street Zen raised shares of Offerpad Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Keefe, Bruyette & Woods decreased their price target on shares of Offerpad Solutions from $1.75 to $1.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 25th. Alliance Global Partners began coverage on Offerpad Solutions in a report on Thursday, December 11th. They issued a “buy” rating and a $3.50 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Offerpad Solutions in a research report on Wednesday, January 28th. Finally, iA Financial set a $3.50 price objective on Offerpad Solutions in a research note on Thursday, December 11th.

Hedge Funds Weigh In On Offerpad Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Offerpad Solutions by 12.4% in the 3rd quarter. Vanguard Group Inc. now owns 790,570 shares of the company’s stock worth $3,297,000 after purchasing an additional 87,144 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Offerpad Solutions in the fourth quarter worth approximately $768,000. Investure LLC purchased a new position in shares of Offerpad Solutions in the third quarter worth approximately $2,175,000. Quadrature Capital Ltd acquired a new stake in shares of Offerpad Solutions during the fourth quarter valued at approximately $306,000. Finally, Geode Capital Management LLC raised its holdings in shares of Offerpad Solutions by 37.9% during the fourth quarter. Geode Capital Management LLC now owns 190,509 shares of the company’s stock valued at $231,000 after acquiring an additional 52,312 shares during the period. Institutional investors and hedge funds own 39.44% of the company’s stock.

Offerpad Solutions Trading Up 0.3%

Shares of OPAD stock opened at $0.75 on Tuesday. The stock has a 50-day simple moving average of $1.09 and a 200 day simple moving average of $2.25. The stock has a market capitalization of $35.53 million, a P/E ratio of -0.49 and a beta of 2.39. Offerpad Solutions has a fifty-two week low of $0.71 and a fifty-two week high of $6.35. The company has a quick ratio of 0.43, a current ratio of 1.48 and a debt-to-equity ratio of 0.38.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.04. The firm had revenue of $114.12 million for the quarter, compared to analysts’ expectations of $159.00 million. Offerpad Solutions had a negative net margin of 8.17% and a negative return on equity of 135.22%. On average, sell-side analysts expect that Offerpad Solutions will post -2.16 earnings per share for the current fiscal year.

Offerpad Solutions Company Profile

Offerpad Solutions, Inc, listed on the NYSE under the ticker OPAD, is a technology-driven real estate platform specializing in the direct purchase, renovation and resale of single-family homes. Since its founding in 2015 and headquartered in Chandler, Arizona, the company leverages proprietary data analytics and algorithms to deliver fast, all-cash offers and flexible closing timelines to homeowners in select markets across the United States.

The company’s core services include its Instant Offer program for home acquisitions, in-house renovation and repair services to prepare properties for resale, and a suite of ancillary offerings such as title and escrow, home trade-in solutions and mortgage origination through strategic partnerships.