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

Offerpad Solutions (NYSE:OPAD) announced 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 6.12% and a negative return on equity of 67.88%. The firm 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 company posted ($0.73) EPS. Offerpad Solutions updated its Q4 2024 guidance to EPS.

Offerpad Solutions Trading Up 5.1 %

OPAD traded up $0.18 during midday trading on Thursday, hitting $3.70. The company’s stock had a trading volume of 8,980 shares, compared to its average volume of 51,211. The firm has a market cap of $100.95 million, a P/E ratio of -1.60 and a beta of 1.86. The firm has a 50-day moving average price of $3.54 and a two-hundred day moving average price of $4.48. Offerpad Solutions has a 52-week low of $2.57 and a 52-week high of $11.22.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OPAD shares. Jefferies Financial Group lowered their target price on shares of Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating for the company in a research note on Tuesday, October 22nd. JMP Securities lowered their target price 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, 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. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.33.

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.