Offerpad Solutions (NYSE:OPAD) Earns Buy Rating from Analysts at Compass Point

Compass Point began coverage on shares of Offerpad Solutions (NYSE:OPADGet Rating) in a research note issued to investors on Tuesday morning, The Fly reports. The firm issued a buy rating and a $5.50 price objective on the stock.

Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group assumed coverage on Offerpad Solutions in a research report on Wednesday, March 30th. They issued a neutral rating and a $6.00 price target on the stock. JMP Securities dropped their price target on Offerpad Solutions from $12.00 to $8.50 and set a mkt outperform rating on the stock in a research report on Thursday, June 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Offerpad Solutions has a consensus rating of Moderate Buy and an average price target of 9.25.

OPAD opened at 2.99 on Tuesday. The business’s 50-day simple moving average is 4.57 and its 200-day simple moving average is 4.95. Offerpad Solutions has a one year low of 2.90 and a one year high of 20.97.

Offerpad Solutions (NYSE:OPADGet Rating) last posted its earnings results on Wednesday, May 4th. The company reported 0.16 EPS for the quarter, topping analysts’ consensus estimates of 0.03 by 0.13. The firm had revenue of 1.37 billion for the quarter, compared to analyst estimates of 1.14 billion. As a group, equities research analysts anticipate that Offerpad Solutions will post 0.25 EPS for the current year.

Large investors have recently made changes to their positions in the company. Citigroup Inc. purchased a new stake in shares of Offerpad Solutions during the 1st quarter worth approximately $42,000. Two Sigma Securities LLC purchased a new stake in shares of Offerpad Solutions during the 3rd quarter worth approximately $96,000. Fox Run Management L.L.C. purchased a new stake in shares of Offerpad Solutions during the 1st quarter worth approximately $57,000. CIBC Asset Management Inc purchased a new stake in shares of Offerpad Solutions during the 4th quarter worth approximately $76,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Offerpad Solutions during the 4th quarter worth approximately $87,000. 51.71% of the stock is currently owned by institutional investors and hedge funds.

About Offerpad Solutions (Get Rating)

Offerpad Solutions Inc, together with its subsidiaries, engages in buying, selling, renting, and renovating properties to homeowners in the United States. It operates iBuying, a real estate solutions platform for on-demand customer. The company provides customer-centric experience, which enables them to sell and buy homes online with streamlined access to ancillary services, such as mortgage and title insurance services.

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