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

Offerpad Solutions (NYSE:OPAD) posted its quarterly earnings data on Monday. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.05), Zacks reports. The company had revenue of $208.07 million during the quarter, compared to the consensus estimate of $205.17 million. Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 67.88%. During the same quarter last year, the business earned ($0.73) earnings per share. Offerpad Solutions updated its Q4 2024 guidance to EPS.

Offerpad Solutions Price Performance

Offerpad Solutions stock traded up $0.37 during midday trading on Wednesday, reaching $3.53. The stock had a trading volume of 46,624 shares, compared to its average volume of 51,408. The firm’s fifty day simple moving average is $3.54 and its two-hundred day simple moving average is $4.48. Offerpad Solutions has a twelve month low of $2.57 and a twelve month high of $11.22. The firm has a market cap of $96.30 million, a price-to-earnings ratio of -1.60 and a beta of 1.86.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on OPAD shares. JMP Securities reduced 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 report on Tuesday, August 6th. Jefferies Financial Group reduced their target price on shares of Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating for the company in a report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating for the company in a report on Wednesday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.