Offerpad Solutions (NYSE:OPAD) Given New $2.00 Price Target at The Goldman Sachs Group

Offerpad Solutions (NYSE:OPAD) had its price target trimmed by The Goldman Sachs Group from $5.00 to $2.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

OPAD has been the topic of several other research reports. JMP Securities reissued a “market outperform” rating and set a $4.50 price objective on shares of Offerpad Solutions in a report on Monday, December 16th. Keefe, Bruyette & Woods decreased their price target on shares of Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating on the stock in a research note on Wednesday, November 6th.

Offerpad Solutions Trading Down 1.2 %

Shares of Offerpad Solutions stock opened at $2.06 on Tuesday. The company has a market cap of $56.28 million, a price-to-earnings ratio of -0.93 and a beta of 2.22. Offerpad Solutions has a 1 year low of $1.97 and a 1 year high of $8.93. The company’s fifty day simple moving average is $2.61 and its 200-day simple moving average is $3.32.

Offerpad Solutions (NYSE:OPAD) last posted its quarterly earnings data on Monday, February 24th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.15). Offerpad Solutions had a negative return on equity of 72.88% and a negative net margin of 6.12%. The company had revenue of $174.27 million for the quarter, compared to the consensus estimate of $174.24 million. As a group, research analysts forecast that Offerpad Solutions will post -2.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Offerpad Solutions

A number of hedge funds have recently modified their holdings of OPAD. JPMorgan Chase & Co. boosted its stake in Offerpad Solutions by 140.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock valued at $44,000 after buying an additional 6,284 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Offerpad Solutions during the fourth quarter valued at $34,000. Barclays PLC boosted its stake in shares of Offerpad Solutions by 133.3% in the 3rd quarter. Barclays PLC now owns 20,813 shares of the company’s stock valued at $83,000 after purchasing an additional 11,891 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Offerpad Solutions in the 4th quarter worth about $87,000. Finally, Deutsche Bank AG bought a new stake in shares of Offerpad Solutions in the 4th quarter worth about $111,000. 39.44% of the stock is owned by institutional investors and hedge funds.

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.