Offerpad Solutions (NYSE:OPAD) Announces Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Offerpad Solutions (NYSE:OPAD) released its quarterly earnings data on Monday. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.05), Zacks reports. Offerpad Solutions had a negative return on equity of 67.88% and a negative net margin of 6.12%. The business had revenue of $208.07 million for the quarter, compared to analyst estimates of $205.17 million. During the same quarter last year, the company earned ($0.73) EPS. Offerpad Solutions updated its Q4 2024 guidance to EPS.

Offerpad Solutions Price Performance

Shares of Offerpad Solutions stock traded up $0.37 on Wednesday, hitting $3.53. The company had a trading volume of 46,624 shares, compared to its average volume of 51,408. The business has a 50-day simple moving average of $3.54 and a 200-day simple moving average of $4.48. The company has a market cap of $96.30 million, a PE ratio of -1.60 and a beta of 1.86. Offerpad Solutions has a 52 week low of $2.57 and a 52 week high of $11.22.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on OPAD shares. Keefe, Bruyette & Woods dropped their price target on shares of Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating on the stock in a research note on Wednesday. Jefferies Financial Group dropped their price target 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. Finally, JMP Securities dropped their price target on shares of Offerpad Solutions from $9.00 to $5.50 and set a “market outperform” rating on the stock in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.33.

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.