The Goldman Sachs Group Lowers Offerpad Solutions (NYSE:OPAD) Price Target to $2.00

Offerpad Solutions (NYSE:OPAD) had its price target dropped by The Goldman Sachs Group from $5.00 to $2.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 3.85% from the stock’s current price.

A number of other research analysts have also recently issued reports on OPAD. Keefe, Bruyette & Woods decreased their target price on Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating on the stock in a research report on Wednesday, November 6th. JMP Securities reissued a “market outperform” rating and set a $4.50 price target on shares of Offerpad Solutions in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Offerpad Solutions currently has a consensus rating of “Hold” and a consensus target price of $4.15.

Offerpad Solutions Stock Down 1.9 %

Offerpad Solutions stock opened at $2.08 on Tuesday. Offerpad Solutions has a 12-month low of $1.97 and a 12-month high of $9.30. The business’s 50-day moving average price is $2.63 and its two-hundred day moving average price is $3.32. The stock has a market cap of $56.94 million, a PE ratio of -0.95 and a beta of 2.22.

Offerpad Solutions (NYSE:OPAD) last released its earnings results on Monday, February 24th. The company reported ($0.63) earnings per share (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 business had revenue of $174.27 million during the quarter, compared to the consensus estimate of $174.24 million. As a group, analysts expect that Offerpad Solutions will post -2.16 earnings per share for the current year.

Hedge Funds Weigh In On Offerpad Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in OPAD. Barclays PLC lifted its stake in shares of Offerpad Solutions by 133.3% in the third quarter. Barclays PLC now owns 20,813 shares of the company’s stock worth $83,000 after acquiring an additional 11,891 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Offerpad Solutions in the third quarter worth approximately $2,417,000. JPMorgan Chase & Co. lifted its stake in shares of Offerpad Solutions by 140.1% in the third quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock worth $44,000 after acquiring an additional 6,284 shares during the period. Watts Gwilliam & Co. LLC acquired a new position in shares of Offerpad Solutions in the fourth quarter worth approximately $1,885,000. Finally, SG Americas Securities LLC acquired a new position in shares of Offerpad Solutions in the fourth quarter worth approximately $87,000. 39.44% of the stock is owned by institutional investors and hedge funds.

About Offerpad Solutions

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.