eXp World (NASDAQ:EXPI) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of eXp World (NASDAQ:EXPI) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $12.00 target price on the technology company’s stock.

According to Zacks, “eXp World Holdings, Inc. provides cloud-based real estate brokerage services primarily in the United states and Canada. The company facilitates buyers to search real-time property listings and sellers to list their properties through its Website and provides buyers and sellers access to a network of professional, consumer-centric agents and brokers. eXp World Holdings, Inc., formerly known as eXp Realty International Corporation, is based in Bellingham, Washington. “

Separately, William Blair reaffirmed an outperform rating on shares of eXp World in a research report on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $17.33.

Shares of eXp World stock opened at $10.58 on Wednesday. The stock has a market cap of $657.48 million, a price-to-earnings ratio of -27.13 and a beta of 4.31. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $10.77. eXp World has a 52 week low of $6.61 and a 52 week high of $19.72.

eXp World (NASDAQ:EXPI) last announced its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. The firm had revenue of $157.00 million during the quarter, compared to analyst estimates of $144.00 million. eXp World had a negative net margin of 3.03% and a negative return on equity of 72.09%. eXp World’s revenue was up 153.2% compared to the same quarter last year. As a group, analysts anticipate that eXp World will post -0.17 EPS for the current year.

In related news, insider Scott Petronis sold 5,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $10.00, for a total value of $50,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Glenn Darrel Sanford sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $11.04, for a total transaction of $220,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 345,546 shares of company stock worth $3,812,359. 43.57% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can acquired a new position in eXp World in the 4th quarter worth approximately $36,000. Bank of New York Mellon Corp increased its holdings in eXp World by 4.4% in the 4th quarter. Bank of New York Mellon Corp now owns 23,452 shares of the technology company’s stock worth $166,000 after buying an additional 993 shares during the period. Jane Street Group LLC increased its holdings in eXp World by 10.2% in the 4th quarter. Jane Street Group LLC now owns 25,701 shares of the technology company’s stock worth $182,000 after buying an additional 2,384 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in eXp World in the 4th quarter worth approximately $188,000. Finally, Mesirow Financial Investment Management Inc. increased its holdings in eXp World by 46.8% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 32,462 shares of the technology company’s stock worth $353,000 after buying an additional 10,348 shares during the period. Institutional investors own 6.05% of the company’s stock.

About eXp World

eXp World Holdings, Inc provides cloud-based real estate brokerage services for residential real estate market in the United States and Canada. The company facilitates buyers to search real-time property listings and sellers to list their properties through its Website, exprealty.com; and provides buyers and sellers access to a network of professional, consumer-centric agents, and brokers.

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