Offerpad Solutions (NYSE:OPAD) Given New $6.00 Price Target at The Goldman Sachs Group

Offerpad Solutions (NYSE:OPAD) had its price objective decreased by research analysts at The Goldman Sachs Group from $7.00 to $6.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential downside of 12.41% from the stock’s current price.

Several other research firms also recently issued reports on OPAD. JPMorgan Chase & Co. decreased their price objective on shares of Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $12.00 target price on shares of Offerpad Solutions in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.20.

Offerpad Solutions Stock Performance

Shares of OPAD traded down $0.41 during mid-day trading on Tuesday, hitting $6.85. 10,318 shares of the company’s stock were exchanged, compared to its average volume of 24,171. Offerpad Solutions has a fifty-two week low of $6.70 and a fifty-two week high of $15.19. The company has a market cap of $186.87 million, a price-to-earnings ratio of -1.48 and a beta of 2.01. The stock’s 50-day moving average is $7.80 and its 200-day moving average is $8.69.

Offerpad Solutions (NYSE:OPAD) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business earned ($7.35) EPS. As a group, equities research analysts anticipate that Offerpad Solutions will post -0.69 EPS for the current year.

Institutional Trading of Offerpad Solutions

An institutional investor recently raised its position in Offerpad Solutions stock. Citigroup Inc. lifted its position in shares of Offerpad Solutions Inc. (NYSE:OPAD) by 60,888.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,956 shares of the company’s stock after acquiring an additional 21,920 shares during the period. Citigroup Inc. owned about 0.08% of Offerpad Solutions worth $214,000 at the end of the most recent reporting period. Hedge funds and other 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.