Offerpad Solutions (NYSE:OPAD) Given New $2.25 Price Target at Keefe, Bruyette & Woods

Offerpad Solutions (NYSE:OPAD) had its price target lowered by equities research analysts at Keefe, Bruyette & Woods from $3.15 to $2.25 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 6.89% from the stock’s previous close.

Several other analysts also recently weighed in on OPAD. JMP Securities reiterated a “market outperform” rating and set a $4.50 target price on shares of Offerpad Solutions in a research report on Monday, December 16th. The Goldman Sachs Group reduced their price target on shares of Offerpad Solutions from $5.00 to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.15.

Offerpad Solutions Price Performance

Offerpad Solutions stock opened at $2.11 on Wednesday. The firm has a market capitalization of $57.62 million, a P/E ratio of -0.96 and a beta of 2.22. Offerpad Solutions has a 1-year low of $1.97 and a 1-year high of $9.30. The company’s 50-day moving average is $2.63 and its 200 day moving average is $3.32.

Offerpad Solutions (NYSE:OPAD) last released its earnings results on Monday, February 24th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.15). Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. The business had revenue of $174.27 million for the quarter, compared to the consensus estimate of $174.24 million. Research analysts anticipate that Offerpad Solutions will post -2.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Offerpad Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of Offerpad Solutions by 133.3% in the third quarter. Barclays PLC now owns 20,813 shares of the company’s stock valued at $83,000 after acquiring an additional 11,891 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Offerpad Solutions during the 3rd quarter valued at about $2,417,000. JPMorgan Chase & Co. raised its holdings in shares of Offerpad Solutions by 140.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock valued at $44,000 after purchasing an additional 6,284 shares in the last quarter. Watts Gwilliam & Co. LLC purchased a new stake in shares of Offerpad Solutions in the 4th quarter worth approximately $1,885,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Offerpad Solutions in the 4th quarter worth approximately $87,000. Institutional investors own 39.44% of the company’s stock.

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.