Real Brokerage’s (REAX) “Buy” Rating Reaffirmed at JonesTrading

Real Brokerage (NASDAQ:REAX)‘s stock had its “buy” rating reissued by equities researchers at JonesTrading in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $40.00 price target on the stock. JonesTrading’s price objective suggests a potential upside of 99.35% from the stock’s previous close.

A number of other analysts have also recently commented on REAX. Weiss Ratings upgraded Real Brokerage from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Wall Street Zen upgraded shares of Real Brokerage to a “hold” rating in a report on Saturday, September 5th. Edward Jones dropped their target price on Real Brokerage from $50.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Zelman & Associates upgraded Real Brokerage to an “outperform” rating in a research report on Friday, August 7th. Finally, Zacks Research raised Real Brokerage from a “strong sell” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.00.

Real Brokerage Trading Up 8.3%

Shares of REAX stock traded up $1.53 during trading hours on Friday, hitting $20.07. The company’s stock had a trading volume of 389,352 shares, compared to its average volume of 383,167. The company has a 50 day moving average of $20.93 and a 200 day moving average of $21.43. The stock has a market cap of $437.22 million, a PE ratio of -28.69 and a beta of 0.79. Real Brokerage has a 12-month low of $15.50 and a 12-month high of $52.50.

Real Brokerage (NASDAQ:REAX) last issued its quarterly earnings data on Tuesday, June 30th. The company reported ($0.30) earnings per share (EPS) for the quarter. The company had revenue of $700.58 million during the quarter. Real Brokerage had a negative net margin of 0.72% and a negative return on equity of 25.32%. As a group, analysts anticipate that Real Brokerage will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC grew its position in Real Brokerage by 187.3% during the 2nd quarter. Squarepoint Ops LLC now owns 629,469 shares of the company’s stock worth $1,146,000 after purchasing an additional 410,364 shares during the last quarter. Corient Private Wealth LP purchased a new position in Real Brokerage in the second quarter worth $100,000. Bank of New York Mellon Corp acquired a new stake in shares of Real Brokerage in the second quarter valued at about $680,000. Private Client Services LLC boosted its holdings in Real Brokerage by 61.0% during the second quarter. Private Client Services LLC now owns 36,754 shares of the company’s stock worth $67,000 after buying an additional 13,926 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Real Brokerage by 126.1% during the first quarter. Royal Bank of Canada now owns 20,754 shares of the company’s stock worth $52,000 after purchasing an additional 11,573 shares in the last quarter. Hedge funds and other institutional investors own 53.28% of the company’s stock.

Real Brokerage Company Profile

Real Brokerage Inc is a publicly traded, cloud-based residential real estate brokerage headquartered in Toronto, Canada, with operations across the United States and Canada. The company’s platform offers licensed real estate professionals a fully integrated suite of digital tools designed to streamline every phase of the property transaction process, from lead generation to closing.

Through its proprietary technology, Real Brokerage provides agents with transaction management, customer relationship management, digital marketing automation and real-time analytics in a single, user-friendly interface.