Offerpad Solutions (NYSE:OPAD) Given Market Outperform Rating at JMP Securities

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

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group reduced 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. Keefe, Bruyette & Woods reduced 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 research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Offerpad Solutions presently has a consensus rating of “Hold” and a consensus target price of $5.13.

Offerpad Solutions Trading Down 11.3 %

Shares of NYSE OPAD opened at $3.54 on Monday. The firm’s 50-day moving average price is $3.65 and its 200-day moving average price is $3.99. Offerpad Solutions has a 1-year low of $2.57 and a 1-year high of $10.89. The firm has a market capitalization of $96.89 million, a P/E ratio of -1.60 and a beta of 2.14.

Offerpad Solutions (NYSE:OPAD) last posted its earnings results on Monday, November 4th. The company reported ($0.49) earnings per share 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 during the quarter, compared to analyst estimates of $205.17 million. During the same quarter in the prior year, the company earned ($0.73) EPS. Equities research analysts forecast that Offerpad Solutions will post -2.16 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OPAD. Rhumbline Advisers boosted its holdings in Offerpad Solutions by 4,655.6% in the 2nd quarter. Rhumbline Advisers now owns 11,461 shares of the company’s stock worth $51,000 after buying an additional 11,220 shares during the period. Barclays PLC boosted its holdings in Offerpad Solutions by 133.3% in the 3rd quarter. Barclays PLC now owns 20,813 shares of the company’s stock worth $83,000 after buying an additional 11,891 shares during the period. Bank of New York Mellon Corp bought a new position in Offerpad Solutions in the 2nd quarter worth approximately $111,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Offerpad Solutions in the 3rd quarter worth approximately $2,417,000. 39.44% of the stock is 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.