Offerpad Solutions (NYSE:OPAD) PT Lowered to $3.00 at Jefferies Financial Group

Offerpad Solutions (NYSE:OPAD - Free Report) had its target price reduced by Jefferies Financial Group from $3.50 to $3.00 in a research note issued to investors on Tuesday, Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Several other brokerages also recently issued reports on OPAD. JMP Securities reduced their price objective on Offerpad Solutions from $9.00 to $5.50 and set a "market outperform" rating for the company in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods raised shares of Offerpad Solutions from an "underperform" rating to a "market perform" rating and cut their target price for the company from $6.00 to $3.75 in a research note on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Offerpad Solutions currently has an average rating of "Hold" and an average target price of $5.45.

Offerpad Solutions Trading Up 4.5 %

Shares of OPAD traded up $0.13 during midday trading on Tuesday, reaching $2.99. 68,039 shares of the company were exchanged, compared to its average volume of 52,272. Offerpad Solutions has a 1-year low of $2.57 and a 1-year high of $11.22. The stock has a 50-day moving average price of $3.64 and a 200-day moving average price of $4.82. The company has a market cap of $81.58 million, a price-to-earnings ratio of -1.03 and a beta of 1.82.

Offerpad Solutions (NYSE:OPAD - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.10). The firm had revenue of $251.12 million during the quarter, compared to the consensus estimate of $290.00 million. Offerpad Solutions had a negative net margin of 6.60% and a negative return on equity of 70.12%. During the same period in the prior year, the firm earned ($0.84) earnings per share. Equities research analysts anticipate that Offerpad Solutions will post -2.01 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Offerpad Solutions stock. Rhumbline Advisers boosted its holdings in shares of Offerpad Solutions Inc. (NYSE:OPAD - Free Report) by 4,655.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 11,461 shares of the company's stock after acquiring an additional 11,220 shares during the period. Rhumbline Advisers' holdings in Offerpad Solutions were worth $51,000 as of its most recent filing with the SEC. 39.44% of the stock is currently owned by institutional investors.

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.