JMP Securities Lowers Offerpad Solutions (NYSE:OPAD) Price Target to $9.00

Offerpad Solutions (NYSE:OPAD) had its price target decreased by investment analysts at JMP Securities from $12.00 to $9.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 31.10% from the stock’s previous close.

OPAD has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price target on shares of Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. The Goldman Sachs Group cut their target price on Offerpad Solutions from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Offerpad Solutions currently has an average rating of “Hold” and a consensus target price of $9.83.

Offerpad Solutions Price Performance

Shares of NYSE OPAD opened at $6.87 on Tuesday. The company has a market cap of $187.28 million, a PE ratio of -1.47 and a beta of 2.01. The company has a 50-day simple moving average of $7.73 and a 200-day simple moving average of $8.66. Offerpad Solutions has a 12 month low of $6.54 and a 12 month high of $15.19.

Offerpad Solutions (NYSE:OPAD) last released its earnings results on Monday, February 26th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $240.46 million during the quarter, compared to analysts’ expectations of $256.60 million. During the same period in the previous year, the firm posted ($7.35) earnings per share. On average, analysts anticipate that Offerpad Solutions will post -0.69 EPS for the current year.

Hedge Funds Weigh In On Offerpad Solutions

A hedge fund recently raised its stake in Offerpad Solutions stock. Citigroup Inc. raised its stake in Offerpad Solutions Inc. (NYSE:OPAD) by 60,888.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,956 shares of the company’s stock after purchasing an additional 21,920 shares during the quarter. Citigroup Inc. owned about 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.

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.