Offerpad Solutions (NYSE:OPAD) Price Target Lowered to $6.00 at The Goldman Sachs Group

Offerpad Solutions (NYSE:OPAD) had its target price lowered by The Goldman Sachs Group from $7.00 to $6.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. JMP Securities reissued a market outperform rating and set a $12.00 target price on shares of Offerpad Solutions in a research 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 report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Offerpad Solutions presently has a consensus rating of Hold and an average target price of $10.60.

Offerpad Solutions Stock Down 6.4 %

Shares of NYSE:OPAD opened at $6.80 on Tuesday. The stock has a market cap of $185.37 million, a price-to-earnings ratio of -1.46 and a beta of 2.01. The business’s 50 day moving average is $7.76 and its 200 day moving average is $8.67. Offerpad Solutions has a 12-month low of $6.54 and a 12-month high of $15.19.

Offerpad Solutions (NYSE:OPAD) last posted its quarterly earnings data 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 firm had revenue of $240.46 million for the quarter, compared to analysts’ expectations of $256.60 million. During the same period in the prior year, the firm earned ($7.35) earnings per share. As a group, equities research analysts expect that Offerpad Solutions will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Offerpad Solutions stock. Cerity Partners LLC bought a new position in shares of Offerpad Solutions Inc. (NYSE:OPAD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 23,396 shares of the company’s stock, valued at approximately $240,000. Cerity Partners LLC owned 0.09% of Offerpad Solutions as of its most recent SEC filing. 39.44% of the stock is currently owned by hedge funds and other institutional investors.

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.