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

Offerpad Solutions (NYSE:OPAD) released its quarterly earnings data on Monday. The company reported ($0.49) earnings per share (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 for the quarter, compared to the consensus estimate of $205.17 million. During the same quarter in the prior year, the business posted ($0.73) earnings per share. Offerpad Solutions updated its Q4 2024 guidance to EPS.

Offerpad Solutions Trading Down 5.8 %

Shares of NYSE:OPAD traded down $0.19 on Tuesday, hitting $3.08. The company had a trading volume of 53,601 shares, compared to its average volume of 51,355. The company has a market cap of $84.02 million, a PE ratio of -1.25 and a beta of 1.86. The business has a 50 day moving average of $3.56 and a 200 day moving average of $4.52. Offerpad Solutions has a 52-week low of $2.57 and a 52-week high of $11.22.

Analysts Set New Price Targets

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