Offerpad Solutions (NYSE:OPAD) Issues Earnings Results

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

Offerpad Solutions Stock Down 2.4 %

NYSE:OPAD traded down $0.08 during mid-day trading on Wednesday, hitting $3.25. 6,616 shares of the company traded hands, compared to its average volume of 50,889. The stock’s fifty day moving average price is $4.58 and its 200-day moving average price is $6.73. Offerpad Solutions has a one year low of $3.23 and a one year high of $13.36. The firm has a market cap of $88.66 million, a price-to-earnings ratio of -1.20 and a beta of 1.83.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on OPAD shares. Keefe, Bruyette & Woods raised Offerpad Solutions from an “underperform” rating to a “market perform” rating and reduced their price objective for the company from $6.00 to $3.75 in a research report on Tuesday. The Goldman Sachs Group decreased their price target on Offerpad Solutions from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Finally, JMP Securities decreased their price target on Offerpad Solutions from $9.00 to $5.50 and set a “market outperform” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.45.

Insider Buying and Selling at Offerpad Solutions

In other Offerpad Solutions news, Director Roberto Marco Sella acquired 10,000 shares of the stock in a transaction dated Friday, May 31st. The shares were acquired at an average cost of $4.87 per share, for a total transaction of $48,700.00. Following the completion of the transaction, the director now directly owns 3,065,884 shares of the company’s stock, valued at $14,930,855.08. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Offerpad Solutions news, Director Roberto Marco Sella acquired 10,000 shares of the stock in a transaction dated Friday, May 31st. The shares were acquired at an average cost of $4.87 per share, for a total transaction of $48,700.00. Following the completion of the transaction, the director now directly owns 3,065,884 shares of the company’s stock, valued at $14,930,855.08. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Bair bought 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average price of $5.48 per share, for a total transaction 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 approximately $4,673,711.16. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 97,717 shares of company stock valued at $500,996. Company insiders own 43.40% of the company’s stock.

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.