JMP Securities Reiterates Market Outperform Rating for Offerpad Solutions (NYSE:OPAD)

Offerpad Solutions (NYSE:OPAD - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities research analysts at JMP Securities in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $4.50 price target on the stock. JMP Securities' price target suggests a potential upside of 27.12% from the stock's current price.

Several other analysts have also recently commented on OPAD. Keefe, Bruyette & Woods lowered their target price on Offerpad Solutions from $3.75 to $3.15 and set a "market perform" rating on the stock in a research 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 on the stock in a research note on Tuesday, October 22nd. Four investment 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, the stock presently has an average rating of "Hold" and an average price target of $5.13.

Offerpad Solutions Stock Down 11.3 %

NYSE OPAD traded down $0.45 during trading hours on Monday, hitting $3.54. The company had a trading volume of 55,124 shares, compared to its average volume of 50,757. Offerpad Solutions has a fifty-two week low of $2.57 and a fifty-two week high of $10.89. The firm has a market cap of $96.89 million, a P/E ratio of -1.60 and a beta of 2.14. The business has a fifty day simple moving average of $3.65 and a 200-day simple moving average of $3.99.

Offerpad Solutions (NYSE:OPAD - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.05). Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. The firm had revenue of $208.07 million during the quarter, compared to the consensus estimate of $205.17 million. During the same quarter in the prior year, the business earned ($0.73) earnings per share. Equities analysts forecast that Offerpad Solutions will post -2.16 EPS for the current fiscal year.

Institutional Trading of Offerpad Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its holdings in Offerpad Solutions by 4,655.6% during the second quarter. Rhumbline Advisers now owns 11,461 shares of the company's stock worth $51,000 after acquiring an additional 11,220 shares during the period. Barclays PLC boosted its position in shares of Offerpad Solutions by 133.3% during the 3rd quarter. Barclays PLC now owns 20,813 shares of the company's stock valued at $83,000 after purchasing an additional 11,891 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Offerpad Solutions in the 2nd quarter worth approximately $111,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Offerpad Solutions in the 3rd quarter worth approximately $2,417,000. Institutional investors own 39.44% of the company's stock.

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.