Offerpad Solutions (NYSE:OPAD) Price Target Cut to $6.00

Offerpad Solutions (NYSE:OPAD) had its price target dropped by equities research 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 brokerage currently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential downside of 10.18% from the stock’s current price.

OPAD has been the topic of several other reports. JMP Securities dropped their target price on Offerpad Solutions from $12.00 to $9.00 and set a “market outperform” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. dropped their price objective 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. Finally, The Goldman Sachs Group cut their price objective on shares of Offerpad Solutions from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.83.

Offerpad Solutions Stock Down 2.6 %

Shares of NYSE:OPAD opened at $6.68 on Wednesday. The firm has a 50-day simple moving average of $7.69 and a 200 day simple moving average of $8.65. Offerpad Solutions has a fifty-two week low of $6.54 and a fifty-two week high of $15.19. The company has a market cap of $182.23 million, a PE ratio of -1.43 and a beta of 2.01.

Offerpad Solutions (NYSE:OPAD) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $256.60 million. Offerpad Solutions had a negative net margin of 8.92% and a negative return on equity of 93.45%. During the same period last year, the company posted ($7.35) earnings per share. As a group, research analysts forecast that Offerpad Solutions will post -0.69 EPS for the current fiscal year.

Institutional Trading of Offerpad Solutions

A hedge fund recently raised its stake in Offerpad Solutions stock. Citigroup Inc. lifted its stake in shares of Offerpad Solutions Inc. (NYSE:OPAD) by 60,888.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,956 shares of the company’s stock after acquiring an additional 21,920 shares during the quarter. Citigroup Inc. owned about 0.08% of Offerpad Solutions worth $214,000 at the end of the most recent reporting period. 39.44% of the stock is currently owned by hedge funds and other institutional investors.

About Offerpad Solutions

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.