Keefe, Bruyette & Woods Cuts Offerpad Solutions (NYSE:OPAD) Price Target to $0.85

Offerpad Solutions (NYSE:OPAD) had its price objective lowered by Keefe, Bruyette & Woods from $1.00 to $0.85 in a report issued on Thursday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Offerpad Solutions in a report on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.62.

Offerpad Solutions Trading Down 4.2%

Shares of OPAD opened at $0.68 on Thursday. The company has a quick ratio of 0.43, a current ratio of 1.66 and a debt-to-equity ratio of 0.32. Offerpad Solutions has a twelve month low of $0.57 and a twelve month high of $6.35. The stock has a market capitalization of $32.10 million, a P/E ratio of -0.56 and a beta of 2.45. The firm has a fifty day simple moving average of $0.75 and a two-hundred day simple moving average of $1.29.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.01. Offerpad Solutions had a negative net margin of 8.51% and a negative return on equity of 112.51%. The business had revenue of $80.08 million during the quarter, compared to analyst estimates of $86.25 million. On average, research analysts anticipate that Offerpad Solutions will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC increased its stake in shares of Offerpad Solutions by 69.6% in the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock worth $40,000 after acquiring an additional 9,979 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Offerpad Solutions in the 3rd quarter worth about $79,000. Barclays PLC increased its stake in shares of Offerpad Solutions by 190.5% in the 4th quarter. Barclays PLC now owns 33,345 shares of the company’s stock worth $40,000 after acquiring an additional 21,868 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Offerpad Solutions in the 4th quarter worth about $27,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Offerpad Solutions in the 4th quarter worth about $32,000. 39.44% of the stock is currently owned by institutional investors.

Offerpad Solutions Company Profile

Offerpad Solutions, Inc, listed on the NYSE under the ticker OPAD, is a technology-driven real estate platform specializing in the direct purchase, renovation and resale of single-family homes. Since its founding in 2015 and headquartered in Chandler, Arizona, the company leverages proprietary data analytics and algorithms to deliver fast, all-cash offers and flexible closing timelines to homeowners in select markets across the United States.

The company’s core services include its Instant Offer program for home acquisitions, in-house renovation and repair services to prepare properties for resale, and a suite of ancillary offerings such as title and escrow, home trade-in solutions and mortgage origination through strategic partnerships.