Offerpad Solutions Inc. (NYSE:OPAD) Receives $9.60 Consensus Price Target from Brokerages

Offerpad Solutions Inc. (NYSE:OPAD) has been assigned a consensus rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $9.60.

OPAD has been the topic of several recent analyst reports. JMP Securities decreased their price target on Offerpad Solutions from $12.00 to $9.00 and set a “market outperform” rating on the stock in a research note on Tuesday, May 7th. Keefe, Bruyette & Woods lowered their target price on Offerpad Solutions from $6.25 to $6.00 and set an “underperform” rating for the company in a research note on Wednesday, May 8th. Finally, The Goldman Sachs Group reduced their price target on shares of Offerpad Solutions from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th.

Insider Transactions at Offerpad Solutions

In other news, Director Roberto Marco Sella acquired 10,000 shares of the stock in a transaction dated Friday, May 31st. The stock was bought at an average price of $4.87 per share, with a total value of $48,700.00. Following the completion of the purchase, the director now directly owns 3,065,884 shares of the company’s stock, valued at approximately $14,930,855.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Brian Bair acquired 40,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $5.48 per share, with a total value of $219,200.00. Following the completion of the purchase, the chief executive officer now directly owns 852,867 shares of the company’s stock, valued at approximately $4,673,711.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roberto Marco Sella acquired 10,000 shares of the stock in a transaction dated Friday, May 31st. The stock was purchased at an average cost of $4.87 per share, with a total value of $48,700.00. Following the purchase, the director now directly owns 3,065,884 shares of the company’s stock, valued at $14,930,855.08. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 97,717 shares of company stock worth $500,996. Insiders own 43.40% of the company’s stock.

Institutional Trading of Offerpad Solutions

Several institutional investors have recently added to or reduced their stakes in OPAD. Bank of New York Mellon Corp bought a new stake in Offerpad Solutions in the second quarter valued at approximately $111,000. Cerity Partners LLC bought a new stake in Offerpad Solutions in the fourth quarter valued at approximately $240,000. Citigroup Inc. boosted its holdings in Offerpad Solutions by 60,888.9% in the third quarter. Citigroup Inc. now owns 21,956 shares of the company’s stock valued at $214,000 after acquiring an additional 21,920 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Offerpad Solutions by 4,655.6% in the second quarter. Rhumbline Advisers now owns 11,461 shares of the company’s stock valued at $51,000 after acquiring an additional 11,220 shares during the last quarter. 39.44% of the stock is currently owned by institutional investors.

Offerpad Solutions Stock Down 10.1 %

Shares of Offerpad Solutions stock opened at $3.99 on Friday. The company has a 50-day simple moving average of $4.67 and a two-hundred day simple moving average of $6.86. Offerpad Solutions has a twelve month low of $3.83 and a twelve month high of $13.36. The stock has a market capitalization of $108.85 million, a price-to-earnings ratio of -1.45 and a beta of 1.83.

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

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.