Keefe, Bruyette & Woods Cuts Offerpad Solutions (NYSE:OPAD) Price Target to $2.25

Offerpad Solutions (NYSE:OPAD - Free Report) had its price target decreased by Keefe, Bruyette & Woods from $3.15 to $2.25 in a research note issued to investors on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group dropped their price objective on Offerpad Solutions from $5.00 to $2.00 and set a "neutral" rating for the company in a research note on Tuesday. JMP Securities reaffirmed a "market outperform" rating and issued a $4.50 price objective on shares of Offerpad Solutions in a research note on Monday, December 16th.

Offerpad Solutions Trading Down 2.0 %

OPAD stock traded down $0.04 during midday trading on Wednesday, hitting $1.98. 111,780 shares of the company's stock were exchanged, compared to its average volume of 54,384. The business has a 50-day simple moving average of $2.55 and a two-hundred day simple moving average of $3.30. The stock has a market capitalization of $54.20 million, a PE ratio of -0.90 and a beta of 2.22. Offerpad Solutions has a 1-year low of $1.93 and a 1-year high of $8.93.

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

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OPAD. Barclays PLC boosted its holdings in 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 purchasing an additional 11,891 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Offerpad Solutions in the third quarter valued at $2,417,000. JPMorgan Chase & Co. boosted its holdings in Offerpad Solutions by 140.1% in the third 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 during the period. Watts Gwilliam & Co. LLC purchased a new position in Offerpad Solutions in the fourth quarter valued at $1,885,000. Finally, SG Americas Securities LLC purchased a new position in Offerpad Solutions in the fourth quarter valued at $87,000. 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.