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

Shares of Offerpad Solutions Inc. (NYSE:OPAD) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $11.40.

OPAD has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price objective 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. The Goldman Sachs Group lowered their price target on shares of Offerpad Solutions from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in Offerpad Solutions during the 1st quarter worth approximately $161,000. Citigroup Inc. acquired a new stake in shares of Offerpad Solutions in the first quarter worth $42,000. Cetera Investment Advisers purchased a new position in shares of Offerpad Solutions in the 1st quarter valued at $103,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Offerpad Solutions by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 358,937 shares of the company’s stock valued at $1,806,000 after acquiring an additional 8,859 shares in the last quarter. Finally, Invesco Ltd. purchased a new stake in Offerpad Solutions during the 1st quarter worth $334,000. 39.44% of the stock is owned by hedge funds and other institutional investors.

Offerpad Solutions Price Performance

NYSE OPAD opened at $8.54 on Friday. The business has a 50 day moving average price of $8.71 and a 200 day moving average price of $9.07. The company has a market capitalization of $232.97 million, a P/E ratio of -1.83 and a beta of 2.08. Offerpad Solutions has a 1-year low of $6.00 and a 1-year high of $15.19.

Offerpad Solutions (NYSE:OPAD) last announced its quarterly earnings results on Monday, February 26th. The company reported ($0.57) earnings per share (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 analysts’ expectations of $256.60 million. During the same period last year, the company earned ($7.35) EPS. On average, research analysts expect that Offerpad Solutions will post -1.03 earnings per share for the current fiscal 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.