Offerpad Solutions (NYSE:OPAD – Free Report) had its price objective lowered by The Goldman Sachs Group from $2.00 to $1.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.
A number of other equities analysts have also recently issued reports on OPAD. Citizens Jmp cut Offerpad Solutions from an “outperform” rating to a “market perform” rating in a report on Tuesday. Keefe, Bruyette & Woods decreased their price target on shares of Offerpad Solutions from $3.15 to $2.25 and set a “market perform” rating for the company in a report on Wednesday, February 26th. Finally, JMP Securities reiterated a “market perform” rating on shares of Offerpad Solutions in a report on Tuesday. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.38.
Check Out Our Latest Stock Report on Offerpad Solutions
Offerpad Solutions Stock Performance
Offerpad Solutions (NYSE:OPAD – Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.04. Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. The company had revenue of $160.70 million during the quarter, compared to analysts’ expectations of $180.51 million. On average, equities analysts predict that Offerpad Solutions will post -2.16 EPS for the current fiscal year.
Institutional Investors Weigh In On Offerpad Solutions
Several hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in Offerpad Solutions by 140.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock valued at $44,000 after acquiring an additional 6,284 shares during the period. Jane Street Group LLC acquired a new stake in Offerpad Solutions during the 4th quarter worth approximately $34,000. Barclays PLC boosted its stake in Offerpad Solutions by 133.3% in the 3rd quarter. Barclays PLC now owns 20,813 shares of the company’s stock valued at $83,000 after purchasing an additional 11,891 shares during the period. Northern Trust Corp grew its holdings in Offerpad Solutions by 22.1% in the 4th quarter. Northern Trust Corp now owns 95,866 shares of the company’s stock valued at $273,000 after buying an additional 17,322 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Offerpad Solutions during the first quarter worth $32,000. Institutional investors and hedge funds own 39.44% of the company’s stock.
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.
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