Offerpad Solutions (NYSE:OPAD) Given New $9.00 Price Target at JMP Securities

Offerpad Solutions (NYSE:OPAD) had its price target cut by JMP Securities from $12.00 to $9.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a market outperform rating on the stock.

OPAD has been the subject of a number of other reports. The Goldman Sachs Group cut their target price on Offerpad Solutions from $7.00 to $6.00 and set a neutral rating for the company in a research report on Tuesday. JPMorgan Chase & Co. decreased their price target on Offerpad Solutions from $10.00 to $9.00 and set a neutral rating on the stock in a research note on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $10.60.

Offerpad Solutions Trading Down 6.4 %

NYSE:OPAD opened at $6.80 on Tuesday. The stock has a 50 day simple moving average of $7.76 and a 200 day simple moving average of $8.67. Offerpad Solutions has a 1-year low of $6.54 and a 1-year high of $15.19. The stock has a market cap of $185.37 million, a P/E ratio of -1.46 and a beta of 2.01.

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

Institutional Trading of Offerpad Solutions

An institutional investor recently raised its position in Offerpad Solutions stock. Citigroup Inc. boosted its holdings in shares of Offerpad Solutions Inc. (NYSE:OPAD) by 60,888.9% during the third quarter, according to 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 0.08% of Offerpad Solutions worth $214,000 at the end of the most recent quarter. Institutional investors and hedge funds own 39.44% of the company’s stock.

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.