Offerpad Solutions (NYSE:OPAD) Given New $2.00 Price Target at The Goldman Sachs Group

Offerpad Solutions (NYSE:OPAD) had its price target cut by equities researchers at The Goldman Sachs Group from $5.00 to $2.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 2.68% from the stock’s previous close.

A number of other analysts have also recently weighed in on OPAD. JMP Securities reaffirmed a “market outperform” rating and issued a $4.50 price objective on shares of Offerpad Solutions in a report on Monday, December 16th. Keefe, Bruyette & Woods dropped their price target on shares of Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating on the stock in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Offerpad Solutions currently has a consensus rating of “Hold” and an average price target of $4.33.

Offerpad Solutions Stock Down 6.6 %

OPAD stock traded down $0.15 during midday trading on Tuesday, reaching $2.06. The company had a trading volume of 71,215 shares, compared to its average volume of 50,001. The stock has a 50 day moving average price of $2.66 and a 200 day moving average price of $3.33. The firm has a market capitalization of $56.25 million, a PE ratio of -0.93 and a beta of 2.22. Offerpad Solutions has a fifty-two week low of $1.97 and a fifty-two week high of $9.30.

Offerpad Solutions (NYSE:OPAD) last released its quarterly earnings data on Monday, February 24th. The company reported ($0.63) earnings per share (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 company had revenue of $174.27 million for the quarter, compared to analyst estimates of $174.24 million. Research analysts predict that Offerpad Solutions will post -2.16 EPS for the current year.

Institutional Investors Weigh In On Offerpad Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of OPAD. Watts Gwilliam & Co. LLC acquired a new position in Offerpad Solutions during the 4th quarter valued at about $1,885,000. Barclays PLC boosted 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 bought a new position in shares of Offerpad Solutions in the third quarter valued at approximately $2,417,000. SG Americas Securities LLC bought a new stake in Offerpad Solutions during the fourth quarter worth approximately $87,000. Finally, JPMorgan Chase & Co. lifted its position in Offerpad Solutions by 140.1% in the third quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock worth $44,000 after purchasing an additional 6,284 shares during the period. 39.44% of the stock is currently owned by 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.