Keefe, Bruyette & Woods Has Lowered Expectations for Offerpad Solutions (NYSE:OPAD) Stock Price

Offerpad Solutions (NYSE:OPAD) had its price target dropped by analysts at Keefe, Bruyette & Woods from $1.00 to $0.85 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 25.00% from the stock’s current price.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Offerpad Solutions in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $2.62.

Offerpad Solutions Stock Down 4.2%

Shares of OPAD opened at $0.68 on Thursday. Offerpad Solutions has a 52 week low of $0.57 and a 52 week high of $6.35. The firm has a market cap of $32.10 million, a P/E ratio of -0.56 and a beta of 2.45. The firm’s 50-day simple moving average is $0.75 and its 200 day simple moving average is $1.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.43 and a current ratio of 1.66.

Offerpad Solutions (NYSE:OPAD) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. Offerpad Solutions had a negative net margin of 8.51% and a negative return on equity of 112.51%. The business had revenue of $80.08 million for the quarter, compared to analyst estimates of $86.25 million. On average, analysts forecast that Offerpad Solutions will post -0.58 earnings per share for the current year.

Institutional Trading of Offerpad Solutions

A number of hedge funds have recently added to or reduced their stakes in OPAD. Marshall Wace LLP acquired a new stake in Offerpad Solutions in the fourth quarter valued at approximately $768,000. Investure LLC acquired a new stake in Offerpad Solutions in the third quarter valued at approximately $2,175,000. Quadrature Capital Ltd acquired a new stake in Offerpad Solutions in the fourth quarter valued at approximately $306,000. Vanguard Group Inc. boosted its position in Offerpad Solutions by 12.4% in the third quarter. Vanguard Group Inc. now owns 790,570 shares of the company’s stock valued at $3,297,000 after buying an additional 87,144 shares in the last quarter. Finally, Monograph Wealth Advisors LLC acquired a new stake in Offerpad Solutions in the third quarter valued at approximately $248,000. Institutional investors and hedge funds own 39.44% of the company’s stock.

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.