Offerpad Solutions (NYSE:OPAD) Posts Earnings Results

Offerpad Solutions (NYSE:OPAD) announced its earnings results on Monday. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.10), Zacks reports. The business had revenue of $251.12 million for the quarter, compared to the consensus estimate of $290.00 million. Offerpad Solutions had a negative net margin of 7.60% and a negative return on equity of 69.44%. During the same period in the prior year, the business posted ($0.84) EPS. Offerpad Solutions updated its Q3 2024 guidance to EPS.

Offerpad Solutions Trading Down 15.5 %

Shares of OPAD traded down $0.61 during mid-day trading on Tuesday, hitting $3.32. The company’s stock had a trading volume of 111,240 shares, compared to its average volume of 51,196. The company’s 50-day moving average is $4.58 and its 200-day moving average is $6.73. Offerpad Solutions has a 52-week low of $3.23 and a 52-week high of $13.36. The firm has a market capitalization of $90.57 million, a price-to-earnings ratio of -1.20 and a beta of 1.83.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Offerpad Solutions from an “underperform” rating to a “market perform” rating and dropped their target price for the stock from $6.00 to $3.75 in a report on Tuesday. JMP Securities reduced 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 report on Tuesday. Finally, The Goldman Sachs Group reduced their price target on shares of Offerpad Solutions from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.45.

Insider Buying and Selling

In related news, Director Roberto Marco Sella purchased 10,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were acquired at an average price of $4.87 per share, for a total transaction of $48,700.00. Following the purchase, the director now owns 3,065,884 shares of the company’s stock, valued at approximately $14,930,855.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Roberto Marco Sella acquired 10,000 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were acquired at an average cost of $4.87 per share, with a total value of $48,700.00. Following the completion of the acquisition, the director now directly owns 3,065,884 shares in the company, valued at approximately $14,930,855.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian Bair bought 40,000 shares of Offerpad Solutions stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average price of $5.48 per share, with a total value of $219,200.00. Following the completion of the transaction, the chief executive officer now directly owns 852,867 shares of the company’s stock, valued at $4,673,711.16. The disclosure for this purchase can be found here. Insiders bought a total of 97,717 shares of company stock worth $500,996 in the last 90 days. 43.40% of the stock is owned by corporate insiders.

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.