Citizens Jmp Begins Coverage on Exp World (NASDAQ:AGNT)

Key Points

• Citizens JMP initiated coverage of eXp World Holdings with a “market outperform” rating and a $6.00 price target, implying 67.6% upside from the prior close.
• Analyst sentiment remains mixed: two analysts rate the stock Buy, two Hold and two Sell, resulting in a consensus Hold rating and an average price target of $5.38.
• The company reported quarterly revenue of $1.45 billion, up 10.7% year over year, but missed earnings expectations with a loss of $0.02 per share versus the estimated $0.08 profit. Shares opened at $3.58, near their 52-week low of $3.40.

Stock analysts at Citizens Jmp began coverage on shares of Exp World (NASDAQ:AGNT - Get Free Report) in a report issued on Wednesday, Benzinga reports. The firm set a "market outperform" rating and a $6.00 price target on the technology company's stock. Citizens Jmp's price objective suggests a potential upside of 67.60% from the stock's previous close.

Several other research analysts also recently weighed in on AGNT. Wall Street Zen raised shares of Exp World from a "hold" rating to a "buy" rating in a research report on Saturday, October 3rd. DA Davidson reduced their price target on shares of Exp World from $6.50 to $4.75 and set a "neutral" rating for the company in a research report on Wednesday, August 5th. Weiss Ratings downgraded shares of Exp World from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, September 25th. Zacks Research raised shares of Exp World from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 23rd. Finally, Benchmark decreased their price objective on shares of Exp World from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $5.38.

Exp World Price Performance

Shares of AGNT opened at $3.58 on Wednesday. The business's 50-day moving average price is $4.01 and its 200 day moving average price is $4.80. Exp World has a 1-year low of $3.40 and a 1-year high of $12.23.

Exp World (NASDAQ:AGNT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). Exp World had a negative return on equity of 5.43% and a negative net margin of 0.35%. The company had revenue of $1.45 billion for the quarter. The business's quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts anticipate that Exp World will post 0.15 earnings per share for the current year.

Insider Transactions at Exp World

In related news, major shareholder Gratitude 2022 Trust U/A/D 8/2 sold 8,693,290 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $3.68, for a total value of $31,991,307.20. Following the completion of the sale, the insider directly owned 18,037,824 shares of the company's stock, valued at approximately $66,379,192.32. This represents a 32.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 26.59% of the company's stock.

Hedge Funds Weigh In On Exp World

Several institutional investors and hedge funds have recently bought and sold shares of the business. OP Asset Management Ltd acquired a new stake in shares of Exp World during the 1st quarter worth approximately $2,451,000. SEB Asset Management AB bought a new stake in shares of Exp World during the first quarter valued at approximately $587,000. Citizens Financial Group Inc. RI bought a new stake in shares of Exp World during the second quarter valued at approximately $279,000. Louisiana State Employees Retirement System bought a new stake in shares of Exp World during the first quarter valued at approximately $241,000. Finally, Cim Investment Management Inc. acquired a new position in shares of Exp World in the second quarter valued at $136,000. Hedge funds and other institutional investors own 27.17% of the company's stock.

Exp World Company Profile

eXp World Holdings, Inc is a cloud-based real estate services and technology company best known for eXp Realty, an independent residential real estate brokerage. The company provides agents with brokerage services, transaction support, training, marketing resources and collaboration tools through a technology-driven operating model designed to support a geographically distributed workforce.

Through its broader platform, eXp World Holdings has also operated businesses focused on real estate education, media and digital collaboration.

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