Keefe, Bruyette & Woods Lowers Offerpad Solutions (NYSE:OPAD) Price Target to $1.00

Offerpad Solutions (NYSE:OPAD) had its price target cut by Keefe, Bruyette & Woods from $2.25 to $1.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 10.71% from the company’s current price.

OPAD has been the subject of a number of other research reports. Citizens Jmp cut Offerpad Solutions from an “outperform” rating to a “market perform” rating in a report on Tuesday. The Goldman Sachs Group decreased their price objective on Offerpad Solutions from $2.00 to $1.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Offerpad Solutions in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Offerpad Solutions has an average rating of “Hold” and an average target price of $2.38.

Offerpad Solutions Trading Up 1.8 %

Shares of OPAD opened at $1.12 on Wednesday. The firm has a market cap of $30.67 million, a P/E ratio of -0.51 and a beta of 2.24. Offerpad Solutions has a 12 month low of $0.92 and a 12 month high of $7.47. The stock’s 50 day moving average is $1.52 and its two-hundred day moving average is $2.56.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.04. Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. The company had revenue of $160.70 million during the quarter, compared to analyst estimates of $180.51 million. Equities research analysts forecast that Offerpad Solutions will post -2.16 EPS for the current year.

Hedge Funds Weigh In On Offerpad Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OPAD. JPMorgan Chase & Co. boosted its position in shares of Offerpad Solutions by 140.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock valued at $44,000 after acquiring an additional 6,284 shares during the last quarter. Jane Street Group LLC acquired a new position in Offerpad Solutions in the 4th quarter valued at about $34,000. XTX Topco Ltd purchased a new stake in shares of Offerpad Solutions in the 1st quarter valued at approximately $32,000. Barclays PLC increased its holdings in shares of Offerpad Solutions by 133.3% during 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 during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Offerpad Solutions during the 4th quarter valued at approximately $87,000. Institutional investors and hedge funds 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.