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

Offerpad Solutions (NYSE:OPAD) had its price target lowered by equities research analysts at Keefe, Bruyette & Woods from $1.75 to $1.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 28.04% from the company’s current price.

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

Offerpad Solutions Stock Down 3.6%

NYSE:OPAD opened at $0.78 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.28 and a current ratio of 1.32. The stock has a market capitalization of $28.79 million, a P/E ratio of -0.50 and a beta of 2.36. The company’s 50-day simple moving average is $1.19 and its 200-day simple moving average is $2.29. Offerpad Solutions has a fifty-two week low of $0.71 and a fifty-two week high of $6.35.

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

Hedge Funds Weigh In On Offerpad Solutions

Several hedge funds have recently added to or reduced their stakes in OPAD. AQR Capital Management LLC boosted its holdings in shares of Offerpad Solutions by 69.6% in the 1st 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 in the last quarter. Jane Street Group LLC purchased a new stake in Offerpad Solutions in the second quarter valued at approximately $44,000. Vanguard Group Inc. grew its position in shares of Offerpad Solutions by 12.4% during the third quarter. Vanguard Group Inc. now owns 790,570 shares of the company’s stock worth $3,297,000 after acquiring an additional 87,144 shares during the last quarter. Investure LLC acquired a new position in shares of Offerpad Solutions in the 3rd quarter valued at $2,175,000. Finally, Monograph Wealth Advisors LLC purchased a new stake in Offerpad Solutions in the 3rd quarter valued at $248,000. 39.44% of the stock is currently owned by hedge funds and other institutional investors.

About Offerpad Solutions

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.