JMP Securities Reaffirms “Market Outperform” Rating for Offerpad Solutions (NYSE:OPAD)

Offerpad Solutions (NYSE:OPAD)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at JMP Securities in a report released on Monday,Benzinga reports. They currently have a $4.50 target price on the stock. JMP Securities’ target price would suggest a potential upside of 13.92% from the company’s current price.

Several other research analysts also recently weighed in on OPAD. Keefe, Bruyette & Woods decreased 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 note on Wednesday, November 6th. Jefferies Financial Group lowered their price objective on Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating for the company in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.13.

Offerpad Solutions Price Performance

Shares of NYSE OPAD traded down $0.04 during trading on Monday, hitting $3.95. 4,100 shares of the company were exchanged, compared to its average volume of 50,535. The company has a market cap of $108.11 million, a price-to-earnings ratio of -1.80 and a beta of 2.14. Offerpad Solutions has a 1 year low of $2.57 and a 1 year high of $10.89. The firm’s fifty day moving average price is $3.65 and its 200 day moving average price is $3.99.

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

Institutional Trading of Offerpad Solutions

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its holdings in shares of Offerpad Solutions by 4,655.6% during the second quarter. Rhumbline Advisers now owns 11,461 shares of the company’s stock valued at $51,000 after purchasing an additional 11,220 shares during the period. Barclays PLC increased its stake in shares of Offerpad Solutions by 133.3% during the third quarter. Barclays PLC now owns 20,813 shares of the company’s stock valued at $83,000 after acquiring an additional 11,891 shares during the period. Bank of New York Mellon Corp bought a new stake in Offerpad Solutions during the second quarter worth approximately $111,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Offerpad Solutions during the third quarter valued at approximately $2,417,000. Institutional investors own 39.44% of the company’s stock.

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.