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Offerpad Solutions (OPAD) Surges 29.9%: Is This an Indication of Further Gains?
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Offerpad Solutions Inc. (OPAD - Free Report) shares rallied 29.9% in the last trading session to close at $5. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 196.2% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to the company’s announcement this week to improve its HomePro program, which helps real estate agents work more efficiently. The rise was also because investors were hopeful that the Federal Reserve might lower interest rates.
This company is expected to post quarterly loss of $0.29 per share in its upcoming report, which represents a year-over-year change of +40.8%. Revenues are expected to be $139.05 million, down 33.2% 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, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 is part of the Zacks Real Estate - Operations industry. Newmark Group (NMRK - Free Report) , another stock in the same industry, closed the last trading session 2.2% higher at $19.24. NMRK has returned 8% in the past month.
For Newmark Group, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.41. This represents a change of +24.2% from what the company reported a year ago. Newmark Group currently has a Zacks Rank of #1 (Strong Buy).
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Offerpad Solutions (OPAD) Surges 29.9%: Is This an Indication of Further Gains?
Offerpad Solutions Inc. (OPAD - Free Report) shares rallied 29.9% in the last trading session to close at $5. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 196.2% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to the company’s announcement this week to improve its HomePro program, which helps real estate agents work more efficiently. The rise was also because investors were hopeful that the Federal Reserve might lower interest rates.
This company is expected to post quarterly loss of $0.29 per share in its upcoming report, which represents a year-over-year change of +40.8%. Revenues are expected to be $139.05 million, down 33.2% 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, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 is part of the Zacks Real Estate - Operations industry. Newmark Group (NMRK - Free Report) , another stock in the same industry, closed the last trading session 2.2% higher at $19.24. NMRK has returned 8% in the past month.
For Newmark Group, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.41. This represents a change of +24.2% from what the company reported a year ago. Newmark Group currently has a Zacks Rank of #1 (Strong Buy).