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

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

Offerpad Solutions Stock Performance

NYSE:OPAD opened at $3.15 on Wednesday. Offerpad Solutions has a 12-month low of $2.57 and a 12-month high of $11.22. The business has a 50 day simple moving average of $3.55 and a 200 day simple moving average of $4.49.

Wall Street Analysts Forecast Growth

OPAD has been the subject of several research reports. Keefe, Bruyette & Woods upgraded Offerpad Solutions from an “underperform” rating to a “market perform” rating and decreased their target price for the stock from $6.00 to $3.75 in a research report on Tuesday, August 6th. JMP Securities decreased their target price on Offerpad Solutions from $9.00 to $5.50 and set a “market outperform” rating for the company in a research report on Tuesday, August 6th. Finally, Jefferies Financial Group decreased their target price on Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.45.

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.