Keefe, Bruyette & Woods Cuts Offerpad Solutions (NYSE:OPAD) Price Target to $3.15

Offerpad Solutions (NYSE:OPAD) had its price target reduced by Keefe, Bruyette & Woods from $3.75 to $3.15 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a market perform rating on the stock.

Several other analysts have also recently issued reports on the company. Jefferies Financial Group reduced their price objective on Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating on the stock in a research note on Tuesday, October 22nd. JMP Securities reduced their price target on Offerpad Solutions from $9.00 to $5.50 and set a “market outperform” rating on the stock in a research report on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Offerpad Solutions currently has a consensus rating of “Hold” and a consensus target price of $5.33.

Offerpad Solutions Trading Up 1.1 %

Shares of NYSE:OPAD opened at $3.65 on Wednesday. The company has a market capitalization of $99.57 million, a price-to-earnings ratio of -1.66 and a beta of 1.86. Offerpad Solutions has a 12-month low of $2.57 and a 12-month high of $11.22. The business has a 50-day moving average price of $3.52 and a 200 day moving average price of $4.43.

Offerpad Solutions (NYSE:OPAD) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). The firm had revenue of $208.07 million for the quarter, compared to analyst estimates of $205.17 million. Offerpad Solutions had a negative return on equity of 72.88% and a negative net margin of 6.12%. During the same quarter last year, the company earned ($0.73) earnings per share. As a group, equities research analysts predict that Offerpad Solutions will post -2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Offerpad Solutions stock. Bank of New York Mellon Corp bought a new stake in Offerpad Solutions Inc. (NYSE:OPAD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,034 shares of the company’s stock, valued at approximately $111,000. Bank of New York Mellon Corp owned about 0.09% of Offerpad Solutions as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 39.44% of the company’s stock.

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.