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Offerpad Solutions Inc. (OPAD) Surges 12.4%: Is This an Indication of Further Gains?
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Offerpad Solutions Inc. (OPAD - Free Report) shares soared 12.4% in the last trading session to close at $13.91. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 47.9% gain over the past four weeks.
The increased optimism in the stock arises from the recovery in the fundamentals of the U.S. real estate operations sector.
This company is expected to post quarterly loss of $1.30 per share in its upcoming report, which represents a year-over-year change of -316.7%. Revenues are expected to be $188.52 million, down 82.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Offerpad Solutions Inc., the consensus EPS estimate for the quarter has been revised 3.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on OPAD going forward to see if this recent jump can turn into more strength down the road.
Offerpad Solutions Inc. belongs to the Zacks Real Estate - Operations industry. Another stock from the same industry, Cushman & Wakefield (CWK - Free Report) , closed the last trading session 2% higher at $9.14. Over the past month, CWK has returned -2.4%.
Cushman & Wakefield's consensus EPS estimate for the upcoming report has changed -7.6% over the past month to $0.22. Compared to the company's year-ago EPS, this represents a change of -65.1%. Cushman & Wakefield currently boasts a Zacks Rank of #5 (Strong Sell).
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Offerpad Solutions Inc. (OPAD) Surges 12.4%: Is This an Indication of Further Gains?
Offerpad Solutions Inc. (OPAD - Free Report) shares soared 12.4% in the last trading session to close at $13.91. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 47.9% gain over the past four weeks.
The increased optimism in the stock arises from the recovery in the fundamentals of the U.S. real estate operations sector.
This company is expected to post quarterly loss of $1.30 per share in its upcoming report, which represents a year-over-year change of -316.7%. Revenues are expected to be $188.52 million, down 82.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Offerpad Solutions Inc., the consensus EPS estimate for the quarter has been revised 3.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on OPAD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Offerpad Solutions Inc. belongs to the Zacks Real Estate - Operations industry. Another stock from the same industry, Cushman & Wakefield (CWK - Free Report) , closed the last trading session 2% higher at $9.14. Over the past month, CWK has returned -2.4%.
Cushman & Wakefield's consensus EPS estimate for the upcoming report has changed -7.6% over the past month to $0.22. Compared to the company's year-ago EPS, this represents a change of -65.1%. Cushman & Wakefield currently boasts a Zacks Rank of #5 (Strong Sell).