Offerpad Solutions (NYSE:OPAD) Price Target Cut to $6.00 by Analysts at The Goldman Sachs Group

Offerpad Solutions (NYSE:OPAD) had its price target reduced by The Goldman Sachs Group from $7.00 to $6.00 in a report published on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

OPAD has been the subject of several other research reports. JPMorgan Chase & Co. reduced their target price on shares of Offerpad Solutions from $10.00 to $9.00 and set a neutral rating for the company in a report on Tuesday, February 27th. JMP Securities restated a market outperform rating and issued a $12.00 price objective on shares of Offerpad Solutions in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $10.60.

Offerpad Solutions Price Performance

Shares of Offerpad Solutions stock opened at $6.80 on Tuesday. The company has a market capitalization of $185.37 million, a P/E ratio of -1.46 and a beta of 2.01. The business has a 50-day moving average of $7.76 and a two-hundred day moving average of $8.67. Offerpad Solutions has a 1 year low of $6.54 and a 1 year high of $15.19.

Offerpad Solutions (NYSE:OPAD) last released its quarterly earnings results on Monday, February 26th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.15). The company had revenue of $240.46 million during the quarter, compared to analyst estimates of $256.60 million. Offerpad Solutions had a negative net margin of 8.92% and a negative return on equity of 93.45%. During the same quarter last year, the company earned ($7.35) EPS. On average, equities analysts anticipate that Offerpad Solutions will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Offerpad Solutions stock. Citigroup Inc. grew its holdings in Offerpad Solutions Inc. (NYSE:OPAD) by 60,888.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,956 shares of the company’s stock after buying an additional 21,920 shares during the period. Citigroup Inc. owned 0.08% of Offerpad Solutions worth $214,000 at the end of the most recent quarter. 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.