Offerpad Solutions (NYSE:OPAD) Price Target Cut to $3.15 by Analysts at Keefe, Bruyette & Woods

Offerpad Solutions (NYSE:OPAD) had its price objective cut by Keefe, Bruyette & Woods from $3.75 to $3.15 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a market perform rating on the stock.

A number of other brokerages also recently issued reports on OPAD. JMP Securities cut their price objective on Offerpad Solutions from $9.00 to $5.50 and set a “market outperform” rating for the company in a research note on Tuesday, August 6th. Jefferies Financial Group lowered their price target on Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating on the stock in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.33.

Offerpad Solutions Stock Up 1.1 %

Shares of Offerpad Solutions stock traded up $0.04 during trading hours on Wednesday, reaching $3.56. 15,226 shares of the stock traded hands, compared to its average volume of 51,240. The company has a 50 day moving average price of $3.54 and a 200 day moving average price of $4.48. The firm has a market capitalization of $97.13 million, a price-to-earnings ratio of -1.60 and a beta of 1.86. Offerpad Solutions has a one year low of $2.57 and a one year high of $11.22.

Offerpad Solutions (NYSE:OPAD) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). The firm had revenue of $208.07 million for the quarter, compared to the consensus estimate of $205.17 million. Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 67.88%. During the same quarter in the prior year, the firm earned ($0.73) earnings per share. Sell-side analysts anticipate that Offerpad Solutions will post -2.01 earnings per share for the current year.

Institutional Trading of Offerpad Solutions

A hedge fund recently bought a new stake in Offerpad Solutions stock. Bank of New York Mellon Corp purchased a new position in shares of Offerpad Solutions Inc. (NYSE:OPAD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,034 shares of the company’s stock, valued at approximately $111,000. Bank of New York Mellon Corp owned approximately 0.09% of Offerpad Solutions at the end of the most recent quarter. Institutional investors and hedge funds 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.