Keefe, Bruyette & Woods Has Lowered Expectations for Offerpad Solutions (NYSE:OPAD) Stock Price

Offerpad Solutions (NYSE:OPAD) had its price target reduced by investment analysts at Keefe, Bruyette & Woods from $3.75 to $3.15 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential downside of 3.67% from the stock’s current price.

A number of other equities research analysts also recently issued reports on OPAD. Jefferies Financial Group reduced their price target on Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating on the stock in a research report on Tuesday, October 22nd. JMP Securities reduced their price target on Offerpad Solutions from $9.00 to $5.50 and set a “market outperform” rating on the stock in a research report on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.33.

Offerpad Solutions Stock Up 3.5 %

Shares of Offerpad Solutions stock traded up $0.11 on Wednesday, hitting $3.27. The stock had a trading volume of 17,304 shares, compared to its average volume of 51,271. The stock has a market cap of $89.21 million, a price-to-earnings ratio of -1.49 and a beta of 1.86. Offerpad Solutions has a twelve month low of $2.57 and a twelve month high of $11.22. The business’s 50 day moving average is $3.55 and its two-hundred day moving average is $4.49.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). The company had revenue of $208.07 million for the quarter, compared to analyst estimates of $205.17 million. Offerpad Solutions had a negative return on equity of 67.88% and a negative net margin of 6.12%. During the same period in the prior year, the company earned ($0.73) EPS. As a group, equities analysts predict that Offerpad Solutions will post -2.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Offerpad Solutions

A hedge fund recently bought a new stake in Offerpad Solutions stock. Bank of New York Mellon Corp purchased a new stake in Offerpad Solutions Inc. (NYSE:OPAD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,034 shares of the company’s stock, valued at approximately $111,000. Bank of New York Mellon Corp owned about 0.09% of Offerpad Solutions as of its most recent filing with the Securities and Exchange Commission. 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.