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

Offerpad Solutions (NYSE:OPAD) had its price objective lowered by The Goldman Sachs Group from $5.00 to $2.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential downside of 2.68% from the company’s previous close.

A number of other research firms have also recently weighed in on OPAD. Keefe, Bruyette & Woods decreased their price objective on shares of Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating for the company in a research report on Wednesday, November 6th. JMP Securities reissued a “market outperform” rating and issued a $4.50 price target on shares of Offerpad Solutions in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Offerpad Solutions has an average rating of “Hold” and an average price target of $4.33.

Offerpad Solutions Stock Performance

Shares of NYSE:OPAD traded down $0.15 during mid-day trading on Tuesday, hitting $2.06. 71,215 shares of the company traded hands, compared to its average volume of 50,001. The firm has a market cap of $56.25 million, a P/E ratio of -0.93 and a beta of 2.22. Offerpad Solutions has a 52-week low of $1.97 and a 52-week high of $9.30. The firm’s 50 day simple moving average is $2.66 and its 200 day simple moving average is $3.33.

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 analysts’ consensus estimates of ($0.48) by ($0.15). The firm had revenue of $174.27 million for the quarter, compared to analysts’ expectations of $174.24 million. Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. Equities research analysts expect that Offerpad Solutions will post -2.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Offerpad Solutions

A number of institutional investors have recently modified their holdings of OPAD. Barclays PLC grew its stake in 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 purchasing an additional 11,891 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Offerpad Solutions during the 3rd quarter worth approximately $2,417,000. JPMorgan Chase & Co. grew its position in shares of Offerpad Solutions by 140.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock worth $44,000 after acquiring an additional 6,284 shares in the last quarter. Watts Gwilliam & Co. LLC bought a new stake in shares of Offerpad Solutions in the 4th quarter valued at approximately $1,885,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Offerpad Solutions during the 4th quarter valued at approximately $87,000. Institutional investors and hedge funds 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.