The Goldman Sachs Group Issues Pessimistic Forecast for Offerpad Solutions (NYSE:OPAD) Stock Price

Offerpad Solutions (NYSE:OPAD) had its target price cut by analysts at The Goldman Sachs Group from $2.00 to $1.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential downside of 8.26% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. JMP Securities reiterated a “market perform” rating on shares of Offerpad Solutions in a report on Tuesday. Citizens Jmp downgraded shares of Offerpad Solutions from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Offerpad Solutions from $3.15 to $2.25 and set a “market perform” rating for the company in a research note on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.38.

Offerpad Solutions Price Performance

OPAD stock opened at $1.09 on Tuesday. The firm has a market capitalization of $29.84 million, a P/E ratio of -0.50 and a beta of 2.24. Offerpad Solutions has a 52-week low of $0.92 and a 52-week high of $7.47. The company’s 50 day simple moving average is $1.53 and its 200-day simple moving average is $2.57.

Offerpad Solutions (NYSE:OPAD) last released its earnings results on Monday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.04. Offerpad Solutions had a negative return on equity of 72.88% and a negative net margin of 6.12%. The company had revenue of $160.70 million during the quarter, compared to analyst estimates of $180.51 million. Sell-side analysts predict that Offerpad Solutions will post -2.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Offerpad Solutions

Several institutional investors have recently bought and sold shares of the business. Barclays PLC increased 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 valued at $83,000 after buying an additional 11,891 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Offerpad Solutions by 140.1% during 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 during the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in Offerpad Solutions in the 4th quarter valued at about $1,885,000. SG Americas Securities LLC bought a new position in shares of Offerpad Solutions in the fourth quarter worth about $87,000. Finally, Northern Trust Corp lifted its position in shares of Offerpad Solutions by 22.1% during the fourth quarter. Northern Trust Corp now owns 95,866 shares of the company’s stock worth $273,000 after purchasing an additional 17,322 shares in the last 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.