Keefe, Bruyette & Woods Cuts Offerpad Solutions (NYSE:OPAD) Price Target to $2.25

Offerpad Solutions (NYSE:OPAD) had its target price trimmed by Keefe, Bruyette & Woods from $3.15 to $2.25 in a report published on Wednesday,Benzinga reports. They currently have a market perform rating on the stock.

A number of other brokerages also recently commented on OPAD. JMP Securities restated a “market outperform” rating and issued a $4.50 target price on shares of Offerpad Solutions in a research note on Monday, December 16th. The Goldman Sachs Group decreased their price target on Offerpad Solutions from $5.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday.

Offerpad Solutions Price Performance

Shares of NYSE OPAD opened at $1.98 on Wednesday. The business’s 50-day moving average price is $2.58 and its two-hundred day moving average price is $3.31. Offerpad Solutions has a one year low of $1.93 and a one year high of $8.93. The company has a market capitalization of $54.20 million, a P/E ratio of -0.90 and a beta of 2.22.

Offerpad Solutions (NYSE:OPAD) last issued its earnings results on Monday, February 24th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.15). Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. The firm had revenue of $174.27 million during the quarter, compared to analysts’ expectations of $174.24 million. On average, equities analysts anticipate that Offerpad Solutions will post -2.16 EPS for the current year.

Institutional Trading of Offerpad Solutions

Several large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Offerpad Solutions by 140.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock worth $44,000 after acquiring an additional 6,284 shares in the last quarter. Jane Street Group LLC bought a new stake in Offerpad Solutions during the 4th quarter valued at approximately $34,000. Barclays PLC boosted its stake in Offerpad Solutions by 133.3% during the 3rd quarter. Barclays PLC now owns 20,813 shares of the company’s stock valued at $83,000 after purchasing an additional 11,891 shares during the period. Northern Trust Corp boosted its stake in Offerpad Solutions by 22.1% during the 4th quarter. Northern Trust Corp now owns 95,866 shares of the company’s stock valued at $273,000 after purchasing an additional 17,322 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Offerpad Solutions during the 4th quarter valued at approximately $87,000. 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.