Keefe, Bruyette & Woods Lowers Offerpad Solutions (NYSE:OPAD) Price Target to $6.00

Offerpad Solutions (NYSE:OPAD) had its price target cut by investment analysts at Keefe, Bruyette & Woods from $6.25 to $6.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 10.18% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on OPAD. JPMorgan Chase & Co. reduced their price objective on shares of Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. JMP Securities decreased their price target on shares of Offerpad Solutions from $12.00 to $9.00 and set a “market outperform” rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group cut their price objective on Offerpad Solutions from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday. One equities 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.83.

Offerpad Solutions Stock Down 2.6 %

OPAD stock opened at $6.68 on Wednesday. Offerpad Solutions has a 52-week low of $6.54 and a 52-week high of $15.19. The firm has a market cap of $182.23 million, a P/E ratio of -1.43 and a beta of 2.01. The company’s 50-day simple moving average is $7.69 and its 200-day simple moving average is $8.65.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly 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 return on equity of 93.45% and a negative net margin of 8.92%. The business had revenue of $240.46 million for the quarter, compared to analysts’ expectations of $256.60 million. During the same quarter in the prior year, the company posted ($7.35) EPS. On average, analysts anticipate that Offerpad Solutions will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Offerpad Solutions stock. Citigroup Inc. raised its holdings in Offerpad Solutions Inc. (NYSE:OPAD) by 60,888.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,956 shares of the company’s stock after purchasing an additional 21,920 shares during the quarter. Citigroup Inc. owned 0.08% of Offerpad Solutions worth $214,000 as of its most recent SEC filing. 39.44% of the stock is owned by 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.