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

Offerpad Solutions (NYSE:OPAD) issued its earnings results on Monday. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05), Zacks reports. Offerpad Solutions had a negative net margin of 6.60% and a negative return on equity of 70.12%. The business had revenue of $208.07 million during the quarter, compared to analysts’ expectations of $205.17 million. During the same period in the prior year, the business posted ($0.73) EPS. Offerpad Solutions updated its Q4 2024 guidance to EPS.

Offerpad Solutions Price Performance

Shares of NYSE OPAD traded down $0.19 during midday trading on Tuesday, reaching $3.08. 53,601 shares of the company traded hands, compared to its average volume of 51,355. The stock has a 50-day moving average price of $3.56 and a 200 day moving average price of $4.52. The company has a market cap of $84.02 million, a price-to-earnings ratio of -1.25 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 Analyst Weigh In

Several research firms recently commented on OPAD. Keefe, Bruyette & Woods raised Offerpad Solutions from an “underperform” rating to a “market perform” rating and reduced their price target for the stock from $6.00 to $3.75 in a research report on Tuesday, August 6th. JMP Securities dropped their price target on shares of Offerpad Solutions from $9.00 to $5.50 and set a “market outperform” rating for the company in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group dropped their target price on shares of Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating on the stock in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.45.

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.