Offerpad Solutions (NYSE:OPAD) PT Lowered to $6.00

Offerpad Solutions (NYSE:OPAD) had its target price lowered by analysts at Keefe, Bruyette & Woods from $6.25 to $6.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ price target would suggest a potential downside of 12.02% from the company’s current price.

OPAD has been the subject of several other research reports. The Goldman Sachs Group cut their price target on Offerpad Solutions from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday. JMP Securities reduced their price objective on shares of Offerpad Solutions from $12.00 to $9.00 and set a “market outperform” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Offerpad Solutions has a consensus rating of “Hold” and an average target price of $9.83.

Offerpad Solutions Stock Up 1.2 %

Offerpad Solutions stock traded up $0.08 during mid-day trading on Wednesday, reaching $6.82. 4,399 shares of the company’s stock were exchanged, compared to its average volume of 24,598. Offerpad Solutions has a one year low of $6.54 and a one year high of $15.19. The firm has a market capitalization of $186.05 million, a PE ratio of -1.47 and a beta of 2.01. The business’s fifty day simple moving average is $7.76 and its 200 day simple moving average is $8.67.

Offerpad Solutions (NYSE:OPAD) last announced its quarterly earnings data on Monday, February 26th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.15). The company had revenue of $240.46 million during the quarter, compared to the consensus estimate of $256.60 million. Offerpad Solutions had a negative return on equity of 93.45% and a negative net margin of 8.92%. During the same period in the prior year, the firm posted ($7.35) EPS. On average, sell-side analysts forecast that Offerpad Solutions will post -0.69 earnings per share for the current year.

Institutional Trading of Offerpad Solutions

An institutional investor recently raised its position in Offerpad Solutions stock. Citigroup Inc. increased its stake in shares of Offerpad Solutions Inc. (NYSE:OPAD) by 60,888.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,956 shares of the company’s stock after acquiring an additional 21,920 shares during the quarter. Citigroup Inc. owned approximately 0.08% of Offerpad Solutions worth $214,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 39.44% of the stock is currently owned by institutional investors and hedge funds.

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.