Offerpad Solutions (NYSE:OPAD) Price Target Cut to $9.00

Offerpad Solutions (NYSE:OPAD) had its price objective reduced by JMP Securities from $12.00 to $9.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ target price would indicate a potential upside of 34.53% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. decreased their price objective on Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. The Goldman Sachs Group dropped 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Offerpad Solutions has an average rating of “Hold” and an average target price of $10.60.

Offerpad Solutions Price Performance

Shares of Offerpad Solutions stock traded down $0.57 during midday trading on Tuesday, hitting $6.69. The company had a trading volume of 19,044 shares, compared to its average volume of 24,249. The business’s 50 day simple moving average is $7.80 and its two-hundred day simple moving average is $8.69. Offerpad Solutions has a 1-year low of $6.59 and a 1-year high of $15.19. The stock has a market cap of $182.50 million, a PE ratio of -1.44 and a beta of 2.01.

Offerpad Solutions (NYSE:OPAD) last released its quarterly earnings data 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 firm had revenue of $240.46 million for the quarter, compared to the consensus estimate of $256.60 million. During the same quarter in the prior year, the firm posted ($7.35) earnings per share. On average, sell-side analysts expect that Offerpad Solutions will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Offerpad Solutions

A hedge fund recently bought a new stake in Offerpad Solutions stock. Cerity Partners LLC purchased a new stake in Offerpad Solutions Inc. (NYSE:OPAD) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 23,396 shares of the company’s stock, valued at approximately $240,000. Cerity Partners LLC owned 0.09% of Offerpad Solutions as of its most recent SEC filing. 39.44% of the stock is currently owned by hedge funds and other institutional investors.

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.