Keefe, Bruyette & Woods Issues Pessimistic Forecast for Offerpad Solutions (NYSE:OPAD) Stock Price

Offerpad Solutions (NYSE:OPAD) had its target price lowered by Keefe, Bruyette & Woods from $3.15 to $2.25 in a research report report published on Wednesday,Benzinga reports. The firm currently has a market perform rating on the stock.

OPAD has been the subject of several other research reports. The Goldman Sachs Group cut their price target on Offerpad Solutions from $5.00 to $2.00 and set a “neutral” rating for the company in a report on Tuesday. JMP Securities reaffirmed a “market outperform” rating and issued a $4.50 price target on shares of Offerpad Solutions in a report on Monday, December 16th.

Offerpad Solutions Stock Down 2.0 %

Offerpad Solutions stock opened at $1.98 on Wednesday. The business has a 50 day moving average price of $2.58 and a two-hundred day moving average price of $3.31. The stock has a market cap of $54.20 million, a price-to-earnings ratio of -0.90 and a beta of 2.22. Offerpad Solutions has a 12 month low of $1.93 and a 12 month high of $8.93.

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

Hedge Funds Weigh In On Offerpad Solutions

A number of hedge funds have recently modified their holdings of the stock. 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 worth $44,000 after buying an additional 6,284 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Offerpad Solutions in the 4th quarter worth approximately $34,000. Barclays PLC raised its holdings in shares of Offerpad Solutions by 133.3% in the 3rd quarter. Barclays PLC now owns 20,813 shares of the company’s stock worth $83,000 after buying an additional 11,891 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Offerpad Solutions by 22.1% in the 4th quarter. Northern Trust Corp now owns 95,866 shares of the company’s stock worth $273,000 after buying an additional 17,322 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Offerpad Solutions in the 4th quarter worth approximately $87,000. 39.44% of the stock is owned by institutional investors and hedge funds.

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.