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

Offerpad Solutions (NYSE:OPAD) had its target price lowered by analysts at The Goldman Sachs Group from $7.00 to $6.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 12.41% from the stock’s previous close.

Several other research firms have also weighed in on OPAD. JMP Securities reiterated a “market outperform” rating and set a $12.00 target price on shares of Offerpad Solutions in a research note on Friday, April 12th. JPMorgan Chase & Co. lowered 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Offerpad Solutions presently has an average rating of “Hold” and an average price target of $11.20.

Offerpad Solutions Stock Down 5.6 %

Shares of Offerpad Solutions stock traded down $0.41 on Tuesday, hitting $6.85. 10,318 shares of the company’s stock traded hands, compared to its average volume of 24,171. The stock has a market cap of $186.87 million, a P/E ratio of -1.48 and a beta of 2.01. The firm’s 50-day moving average is $7.80 and its 200 day moving average is $8.69. Offerpad Solutions has a 52-week low of $6.70 and a 52-week high of $15.19.

Offerpad Solutions (NYSE:OPAD) last announced its quarterly earnings data on Monday, February 26th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.15). The firm had revenue of $240.46 million during 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 in the prior year, the firm earned ($7.35) earnings per share. Equities research 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. raised its stake in shares of Offerpad Solutions Inc. (NYSE:OPAD) by 60,888.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,956 shares of the company’s stock after buying an additional 21,920 shares during the period. Citigroup Inc. owned approximately 0.08% of Offerpad Solutions worth $214,000 as of its most recent SEC filing. 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.