Analysts Set Offerpad Solutions Inc. (NYSE:OPAD) Target Price at $9.60

Offerpad Solutions Inc. (NYSE:OPAD) has been given a consensus rating of “Hold” by the five analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $9.60.

A number of research firms have commented on OPAD. Keefe, Bruyette & Woods decreased their price target 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. JMP Securities decreased their price target on Offerpad Solutions from $12.00 to $9.00 and set a “market outperform” rating for the company in a research note on Tuesday, May 7th. Finally, The Goldman Sachs Group decreased their price target on Offerpad Solutions from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th.

Offerpad Solutions Price Performance

OPAD opened at $4.46 on Friday. The business’s 50-day moving average is $4.70 and its two-hundred day moving average is $6.90. Offerpad Solutions has a 1 year low of $3.83 and a 1 year high of $13.36. The firm has a market capitalization of $121.67 million, a PE ratio of -1.62 and a beta of 1.83.

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

Insider Activity at Offerpad Solutions

In related news, CEO Brian Bair purchased 40,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $5.48 per share, with a total value of $219,200.00. Following the completion of the acquisition, the chief executive officer now owns 852,867 shares of the company’s stock, valued at approximately $4,673,711.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Brian Bair bought 40,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average cost of $5.48 per share, with a total value of $219,200.00. Following the purchase, the chief executive officer now directly owns 852,867 shares in the company, valued at approximately $4,673,711.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Roberto Marco Sella purchased 8,003 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was acquired at an average price of $4.77 per share, with a total value of $38,174.31. Following the purchase, the director now owns 3,073,887 shares in the company, valued at $14,662,440.99. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 97,717 shares of company stock worth $500,996. 43.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Offerpad Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new position in shares of Offerpad Solutions in the 2nd quarter valued at about $111,000. Citigroup Inc. increased its stake in shares of Offerpad Solutions by 60,888.9% in the 3rd quarter. Citigroup Inc. now owns 21,956 shares of the company’s stock valued at $214,000 after purchasing an additional 21,920 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in Offerpad Solutions in the 4th quarter valued at about $240,000. Hedge funds and other 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.