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

Offerpad Solutions (NYSE:OPAD) announced its earnings results on Monday. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05), Zacks reports. Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 67.88%. The company 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 earned ($0.73) earnings per share. Offerpad Solutions updated its Q4 2024 guidance to EPS.

Offerpad Solutions Stock Down 2.6 %

Offerpad Solutions stock opened at $3.43 on Thursday. The firm has a fifty day simple moving average of $3.54 and a two-hundred day simple moving average of $4.48. Offerpad Solutions has a twelve month low of $2.57 and a twelve month high of $11.22. The company has a market capitalization of $93.59 million, a PE ratio of -1.60 and a beta of 1.86.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating on the stock in a research report on Wednesday. JMP Securities lowered their price target on Offerpad Solutions from $9.00 to $5.50 and set a “market outperform” rating on the stock in a research report on Tuesday, August 6th. Finally, 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 report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Offerpad Solutions has a consensus rating of “Hold” and an average price target of $5.33.

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.