Offerpad Solutions (NYSE:OPAD) PT Lowered to $3.00

Offerpad Solutions (NYSE:OPAD) had its price target decreased by analysts at Jefferies Financial Group from $3.50 to $3.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 7.53% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. JMP Securities lowered their price target on shares of 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. Keefe, Bruyette & Woods upgraded shares of Offerpad Solutions from an “underperform” rating to a “market perform” rating and decreased their target price for the company from $6.00 to $3.75 in a report on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Offerpad Solutions has a consensus rating of “Hold” and a consensus price target of $5.45.

Offerpad Solutions Trading Down 6.7 %

Shares of NYSE OPAD opened at $2.79 on Tuesday. The company has a 50-day moving average of $3.65 and a 200 day moving average of $4.78. Offerpad Solutions has a 12-month low of $2.57 and a 12-month high of $11.22. The stock has a market cap of $76.13 million, a PE ratio of -1.01 and a beta of 1.82.

Offerpad Solutions (NYSE:OPAD) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.10). The company had revenue of $251.12 million during the quarter, compared to analysts’ expectations of $290.00 million. Offerpad Solutions had a negative net margin of 6.60% and a negative return on equity of 70.12%. During the same quarter last year, the company earned ($0.84) earnings per share. On average, sell-side analysts forecast that Offerpad Solutions will post -2.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Offerpad Solutions stock. Bank of New York Mellon Corp acquired a new position in shares of Offerpad Solutions Inc. (NYSE:OPAD) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 25,034 shares of the company’s stock, valued at approximately $111,000. Bank of New York Mellon Corp owned 0.09% of Offerpad Solutions as of its most recent filing with the SEC. 39.44% of the stock is owned by hedge funds and other institutional investors.

About Offerpad Solutions

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.