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

Offerpad Solutions (NYSE:OPAD) had its target price cut by Keefe, Bruyette & Woods from $1.75 to $1.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a market perform rating on the stock.

Other equities analysts also recently issued research reports about the company. Alliance Global Partners began coverage on Offerpad Solutions in a research note on Thursday, December 11th. They set a “buy” rating and a $3.50 price target for the company. iA Financial set a $3.50 target price on shares of Offerpad Solutions in a research report on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Offerpad Solutions in a report on Wednesday, January 28th. Finally, Wall Street Zen raised shares of Offerpad Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.25.

Offerpad Solutions Stock Up 11.7%

Shares of NYSE:OPAD opened at $0.87 on Wednesday. The business has a fifty day simple moving average of $1.18 and a 200 day simple moving average of $2.28. The company has a quick ratio of 0.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.37. The firm has a market cap of $32.11 million, a P/E ratio of -0.56 and a beta of 2.36. Offerpad Solutions has a 12-month low of $0.71 and a 12-month high of $6.35.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. The business had revenue of $114.12 million for the quarter, compared to analysts’ expectations of $159.00 million. Offerpad Solutions had a negative net margin of 8.17% and a negative return on equity of 140.73%. Analysts predict that Offerpad Solutions will post -2.16 earnings per share for the current year.

Institutional Trading of Offerpad Solutions

A number of hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP bought a new position in shares of Offerpad Solutions in the fourth quarter worth approximately $27,000. Goldman Sachs Group Inc. purchased a new position in shares of Offerpad Solutions in the 4th quarter worth $32,000. Barclays PLC grew its stake in shares of Offerpad Solutions by 190.5% during the 4th quarter. Barclays PLC now owns 33,345 shares of the company’s stock valued at $40,000 after purchasing an additional 21,868 shares during the period. AQR Capital Management LLC grew its position in Offerpad Solutions by 69.6% during the first quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock valued at $40,000 after buying an additional 9,979 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of Offerpad Solutions during the 2nd quarter valued at $44,000. 39.44% of the stock is owned by institutional investors.

Offerpad Solutions Company Profile

Offerpad Solutions, Inc, listed on the NYSE under the ticker OPAD, is a technology-driven real estate platform specializing in the direct purchase, renovation and resale of single-family homes. Since its founding in 2015 and headquartered in Chandler, Arizona, the company leverages proprietary data analytics and algorithms to deliver fast, all-cash offers and flexible closing timelines to homeowners in select markets across the United States.

The company’s core services include its Instant Offer program for home acquisitions, in-house renovation and repair services to prepare properties for resale, and a suite of ancillary offerings such as title and escrow, home trade-in solutions and mortgage origination through strategic partnerships.