Offerpad Solutions (NYSE:OPAD) PT Lowered to $9.00

Offerpad Solutions (NYSE:OPAD) had its price objective lowered by analysts at JMP Securities from $12.00 to $9.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 31.10% from the company’s current price.

Several other research analysts also recently commented on OPAD. JPMorgan Chase & Co. dropped their target price on shares of Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. The Goldman Sachs Group cut their price objective on Offerpad Solutions from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.83.

Offerpad Solutions Price Performance

NYSE OPAD opened at $6.87 on Tuesday. The firm has a market cap of $187.28 million, a P/E ratio of -1.47 and a beta of 2.01. The stock’s 50-day moving average is $7.73 and its two-hundred day moving average is $8.66. Offerpad Solutions has a fifty-two week low of $6.54 and a fifty-two week high of $15.19.

Offerpad Solutions (NYSE:OPAD) last announced its earnings results on Monday, February 26th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.15). Offerpad Solutions had a negative return on equity of 93.45% and a negative net margin of 8.92%. The company had revenue of $240.46 million for the quarter, compared to the consensus estimate of $256.60 million. During the same period in the previous year, the company earned ($7.35) EPS. On average, equities analysts expect that Offerpad Solutions will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Offerpad Solutions stock. Citigroup Inc. boosted its position in shares of Offerpad Solutions Inc. (NYSE:OPAD) by 60,888.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,956 shares of the company’s stock after acquiring an additional 21,920 shares during the period. Citigroup Inc. owned approximately 0.08% of Offerpad Solutions worth $214,000 at the end of the most recent quarter. 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.