Offerpad Solutions (NYSE:OPAD) Price Target Cut to $6.00 by Analysts at Keefe, Bruyette & Woods

Offerpad Solutions (NYSE:OPAD) had its target price lowered by Keefe, Bruyette & Woods from $6.25 to $6.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an underperform rating on the stock.

A number of other analysts have also recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Offerpad Solutions from $7.00 to $6.00 and set a neutral rating for the company in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Offerpad Solutions from $10.00 to $9.00 and set a neutral rating for the company in a research note on Tuesday, February 27th. Finally, JMP Securities lowered their price target on Offerpad Solutions from $12.00 to $9.00 and set a market outperform rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Offerpad Solutions presently has an average rating of Hold and a consensus target price of $9.83.

Offerpad Solutions Stock Up 1.9 %

Shares of OPAD opened at $6.87 on Wednesday. The company has a 50 day moving average of $7.73 and a 200-day moving average of $8.66. The stock has a market capitalization of $187.28 million, a P/E ratio of -1.47 and a beta of 2.01. Offerpad Solutions has a twelve month low of $6.54 and a twelve month high of $15.19.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly 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 analyst estimates 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. On average, sell-side analysts anticipate that Offerpad Solutions will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Offerpad Solutions stock. Citigroup Inc. raised its stake in Offerpad Solutions Inc. (NYSE:OPAD) by 60,888.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,956 shares of the company’s stock after acquiring an additional 21,920 shares during the quarter. Citigroup Inc. owned approximately 0.08% of Offerpad Solutions worth $214,000 as of its most recent SEC filing. 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.