Offerpad Solutions (NYSE:OPAD) Price Target Cut to $6.00

Offerpad Solutions (NYSE:OPAD) had its target price decreased by research analysts at The Goldman Sachs Group from $7.00 to $6.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential downside of 12.60% from the stock’s previous close.

OPAD has been the subject of several other reports. JMP Securities restated a “market outperform” rating and issued a $12.00 price objective on shares of Offerpad Solutions in a report on Friday, April 12th. JPMorgan Chase & Co. dropped their price target on Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.83.

Offerpad Solutions Trading Up 1.9 %

OPAD opened at $6.87 on Tuesday. Offerpad Solutions has a 12 month low of $6.54 and a 12 month high of $15.19. The business’s 50-day moving average price is $7.73 and its 200-day moving average price is $8.66. The company has a market cap of $187.28 million, a P/E ratio of -1.47 and a beta of 2.01.

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

Institutional Trading of Offerpad Solutions

An institutional investor recently bought a new position in Offerpad Solutions stock. Cerity Partners LLC purchased a new stake in shares of Offerpad Solutions Inc. (NYSE:OPAD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 23,396 shares of the company’s stock, valued at approximately $240,000. Cerity Partners LLC owned about 0.09% of Offerpad Solutions as of its most recent SEC filing. Hedge funds and other institutional investors 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.