The Goldman Sachs Group Issues Pessimistic Forecast for Offerpad Solutions (NYSE:OPAD) Stock Price

Offerpad Solutions (NYSE:OPAD) had its price target decreased by The Goldman Sachs Group from $5.00 to $2.00 in a research note issued to investors on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

OPAD has been the topic of a number of other reports. JMP Securities reaffirmed a “market outperform” rating and set a $4.50 price target on shares of Offerpad Solutions in a research report on Monday, December 16th. Keefe, Bruyette & Woods decreased their target price on shares of Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating on the stock in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.33.

Offerpad Solutions Stock Performance

NYSE:OPAD opened at $2.11 on Tuesday. Offerpad Solutions has a 52 week low of $1.97 and a 52 week high of $9.30. The firm has a market cap of $57.62 million, a price-to-earnings ratio of -0.96 and a beta of 2.22. The firm’s 50-day simple moving average is $2.63 and its 200 day simple moving average is $3.32.

Offerpad Solutions (NYSE:OPAD) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.15). Offerpad Solutions had a negative return on equity of 72.88% and a negative net margin of 6.12%. The business had revenue of $174.27 million for the quarter, compared to the consensus estimate of $174.24 million. Sell-side analysts anticipate that Offerpad Solutions will post -2.16 EPS for the current year.

Hedge Funds Weigh In On Offerpad Solutions

Several hedge funds have recently bought and sold shares of OPAD. Barclays PLC increased its holdings in Offerpad Solutions by 133.3% in the 3rd quarter. Barclays PLC now owns 20,813 shares of the company’s stock valued at $83,000 after buying an additional 11,891 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Offerpad Solutions during the 3rd quarter valued at approximately $2,417,000. JPMorgan Chase & Co. grew its holdings in shares of Offerpad Solutions by 140.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock valued at $44,000 after purchasing an additional 6,284 shares during the last quarter. Watts Gwilliam & Co. LLC bought a new stake in shares of Offerpad Solutions during the 4th quarter valued at approximately $1,885,000. Finally, SG Americas Securities LLC bought a new stake in shares of Offerpad Solutions during the 4th quarter valued at approximately $87,000. 39.44% of the stock is owned by institutional investors.

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.