Offerpad and EverQuote report Monday: what analysts expect

what happened

According to StockStory, Offerpad (NYSE: OPAD), a technology-driven real estate company, will publish its third-quarter results on Monday after the market closes. Last quarter its revenue came in at $77.65 million, down 51.6% year on year, and the number of homes sold fell 54.4% to 206. Guidance for the next quarter came in well below analyst expectations, and earnings per share also disappointed sharply. The market expects revenue to decline about 18.4% year on year, an improvement on the 36.2% drop a year earlier. Over the past month the shares have lost 33.5% and trade near $2.17, while analysts' average price target stands at $12.25.

EverQuote (EVER), an online insurance comparison platform, also reports on Monday after the close. Last quarter its revenue grew 24.6% to $195.1 million, and its EBITDA clearly beat estimates. For this quarter the market expects revenue growth of 16.5%, slower than the 20.3% recorded a year earlier. The shares have gained 25.8% over the past month and trade near $24.53, with an average analyst price target of $29.50.

why it matters

Analysts have mostly reconfirmed their estimates over the past month, so revenue expectations are already reflected in forecasts. Stock reactions across the sector have been mixed: JLL shares rose 17.9% after its results, while Newmark fell 4.5%. For Offerpad, sales volume and guidance will be key; for EverQuote, the pace of revenue growth.

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