Offerpad Solutions (NYSE:OPAD) Price Target Cut to $2.00 by Analysts at The Goldman Sachs Group

Offerpad Solutions (NYSE:OPAD) had its target price cut by The Goldman Sachs Group from $5.00 to $2.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

OPAD has been the subject of several other research reports. JMP Securities reissued a “market outperform” rating and set a $4.50 price objective on shares of Offerpad Solutions in a research report on Monday, December 16th. Keefe, Bruyette & Woods lowered their price objective on shares of Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating for the company in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $4.33.

Offerpad Solutions Stock Performance

Shares of NYSE OPAD opened at $2.11 on Tuesday. The stock has a market cap of $57.62 million, a P/E ratio of -0.96 and a beta of 2.22. The firm has a 50 day moving average price of $2.63 and a 200 day moving average price of $3.32. Offerpad Solutions has a 52-week low of $1.97 and a 52-week high of $9.30.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings data on Monday, February 24th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.15). Offerpad Solutions had a negative return on equity of 72.88% and a negative net margin of 6.12%. The company had revenue of $174.27 million for the quarter, compared to the consensus estimate of $174.24 million. Analysts predict that Offerpad Solutions will post -2.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in Offerpad Solutions in the fourth quarter valued at $34,000. JPMorgan Chase & Co. grew its position in Offerpad Solutions by 140.1% in the third quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock valued at $44,000 after purchasing an additional 6,284 shares in the last quarter. Barclays PLC grew its position in Offerpad Solutions by 133.3% in the third quarter. Barclays PLC now owns 20,813 shares of the company’s stock valued at $83,000 after purchasing an additional 11,891 shares in the last quarter. SG Americas Securities LLC bought a new position in Offerpad Solutions in the fourth quarter valued at $87,000. Finally, Deutsche Bank AG bought a new position in Offerpad Solutions in the fourth quarter valued at $111,000. Institutional investors 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.