Offerpad Solutions (NYSE:OPAD) Receives New Coverage from Analysts at Compass Point

Compass Point started coverage on shares of Offerpad Solutions (NYSE:OPAD – Get Rating) in a report published on Tuesday morning, The Fly reports. The brokerage issued a buy rating and a $5.50 price objective on the stock.

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

Shares of NYSE:OPAD opened at 2.99 on Tuesday. The firm has a fifty day moving average of 4.57 and a two-hundred day moving average of 4.95. Offerpad Solutions has a 12-month low of 2.90 and a 12-month high of 20.97.

Offerpad Solutions (NYSE:OPAD – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported 0.16 earnings per share for the quarter, beating analysts’ consensus estimates of 0.03 by 0.13. The business had revenue of 1.37 billion for the quarter, compared to the consensus estimate of 1.14 billion. Equities analysts forecast that Offerpad Solutions will post 0.25 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of OPAD. Verition Fund Management LLC acquired a new stake in Offerpad Solutions in the 3rd quarter worth $477,000. Two Sigma Securities LLC acquired a new stake in shares of Offerpad Solutions during the 3rd quarter valued at about $96,000. Victory Capital Management Inc. acquired a new stake in shares of Offerpad Solutions during the 4th quarter valued at about $87,000. Northern Trust Corp acquired a new stake in shares of Offerpad Solutions during the 4th quarter valued at about $805,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Offerpad Solutions during the 4th quarter valued at about $76,000. Institutional investors own 51.71% of the company’s stock.

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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