Offerpad Solutions’ (OPAD) Market Perform Rating Reaffirmed at JMP Securities

Offerpad Solutions (NYSE:OPAD)‘s stock had its “market perform” rating restated by research analysts at JMP Securities in a research report issued to clients and investors on Tuesday,Benzinga reports.

Several other brokerages also recently weighed in on OPAD. Keefe, Bruyette & Woods reduced their price target on Offerpad Solutions from $3.15 to $2.25 and set a “market perform” rating on the stock in a report on Wednesday, February 26th. Citizens Jmp lowered shares of Offerpad Solutions from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, The Goldman Sachs Group reduced their price target on shares of Offerpad Solutions from $5.00 to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.94.

Offerpad Solutions Price Performance

Shares of Offerpad Solutions stock traded down $0.04 during trading on Tuesday, reaching $0.99. 6,313 shares of the stock traded hands, compared to its average volume of 61,945. Offerpad Solutions has a 52-week low of $0.92 and a 52-week high of $7.88. The business has a fifty day simple moving average of $1.57 and a two-hundred day simple moving average of $2.59. The company has a market capitalization of $27.00 million, a price-to-earnings ratio of -0.46 and a beta of 2.24.

Offerpad Solutions (NYSE:OPAD) last released its earnings results on Monday, February 24th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.15). Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. The company had revenue of $174.27 million for the quarter, compared to the consensus estimate of $174.24 million. On average, research analysts predict that Offerpad Solutions will post -2.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in Offerpad Solutions by 140.1% during the third quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock valued at $44,000 after buying an additional 6,284 shares during the period. Jane Street Group LLC bought a new stake in shares of Offerpad Solutions in the 4th quarter valued at about $34,000. Barclays PLC grew its holdings in Offerpad Solutions by 133.3% in the third quarter. Barclays PLC now owns 20,813 shares of the company’s stock worth $83,000 after purchasing an additional 11,891 shares during the last quarter. Northern Trust Corp increased its position in Offerpad Solutions by 22.1% during the 4th quarter. Northern Trust Corp now owns 95,866 shares of the company’s stock valued at $273,000 after buying an additional 17,322 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Offerpad Solutions during the fourth quarter worth about $87,000. Hedge funds and other 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.