Analysts Set Offerpad Solutions Inc. (NYSE:OPAD) Price Target at $9.83

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

Several brokerages recently issued reports on OPAD. Keefe, Bruyette & Woods decreased their target price on Offerpad Solutions from $6.25 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 8th. JMP Securities dropped their target price on Offerpad Solutions from $12.00 to $9.00 and set a “market outperform” rating for the company in a report on Tuesday, May 7th. Finally, The Goldman Sachs Group dropped their target price on Offerpad Solutions from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th.

Offerpad Solutions Stock Performance

Shares of NYSE:OPAD opened at $4.29 on Monday. The stock has a market capitalization of $117.03 million, a price-to-earnings ratio of -1.55 and a beta of 1.83. The stock’s 50-day simple moving average is $5.62 and its two-hundred day simple moving average is $7.60. Offerpad Solutions has a 52-week low of $3.83 and a 52-week high of $15.19.

Offerpad Solutions (NYSE:OPAD) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.28). Offerpad Solutions had a negative return on equity of 69.44% and a negative net margin of 7.60%. The company had revenue of $285.36 million during the quarter, compared to the consensus estimate of $272.07 million. As a group, equities analysts forecast that Offerpad Solutions will post -1.6 earnings per share for the current fiscal year.

Insider Transactions at Offerpad Solutions

In other Offerpad Solutions news, Director Roberto Marco Sella bought 7,698 shares of Offerpad Solutions stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of $4.90 per share, with a total value of $37,720.20. Following the transaction, the director now directly owns 3,138,883 shares of the company’s stock, valued at approximately $15,380,526.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Roberto Marco Sella purchased 7,698 shares of the company’s stock in a transaction on Friday, June 14th. The shares were acquired at an average price of $4.90 per share, for a total transaction of $37,720.20. Following the purchase, the director now owns 3,138,883 shares in the company, valued at $15,380,526.70. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian Bair purchased 40,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $5.48 per share, for a total transaction of $219,200.00. Following the purchase, the chief executive officer now owns 852,867 shares in the company, valued at approximately $4,673,711.16. The disclosure for this purchase can be found here. In the last three months, insiders purchased 97,717 shares of company stock valued at $500,996. Corporate insiders own 43.40% of the company’s stock.

Institutional Trading of Offerpad Solutions

An institutional investor recently raised its position in Offerpad Solutions stock. Citigroup Inc. increased its holdings in Offerpad Solutions Inc. (NYSE:OPAD) by 60,888.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,956 shares of the company’s stock after purchasing an additional 21,920 shares during the quarter. Citigroup Inc. owned 0.08% of Offerpad Solutions worth $214,000 at the end of the most recent reporting period. 39.44% of the stock is currently owned by institutional investors.

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.