Exp World (NASDAQ:AGNT) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded eXp World to “Hold” from “Strong Sell.” Overall analyst sentiment remains negative, with a consensus “Reduce” rating and an average price target of $5.17.
• AGNT opened at $3.53, near its 12-month low of $3.40, and remains below its 50-day and 200-day moving averages. The stock has a market capitalization of approximately $580 million.
• eXp World reported quarterly EPS of negative $0.02, missing the $0.08 consensus estimate, although revenue rose 10.7% year over year to $1.45 billion. Separately, a major shareholder sold 8.69 million shares for about $32 million, reducing its ownership by 32.52%.

Exp World (NASDAQ:AGNT - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Wednesday, Zacks reports.

AGNT has been the topic of a number of other research reports. Weiss Ratings upgraded Exp World from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, September 9th. Benchmark cut their price target on Exp World from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Finally, DA Davidson reduced their price target on Exp World from $6.50 to $4.75 and set a "neutral" rating for the company in a report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Exp World has an average rating of "Reduce" and a consensus price target of $5.17.

Exp World Stock Down 0.3%

AGNT stock opened at $3.53 on Wednesday. The company has a 50 day moving average of $4.13 and a two-hundred day moving average of $5.02. The company has a market cap of $580.05 million, a price-to-earnings ratio of -32.09 and a beta of 2.05. Exp World has a 12-month low of $3.40 and a 12-month high of $12.23.

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

Insiders Place Their Bets

In other Exp World news, major shareholder Gratitude 2022 Trust U/A/D 8/2 sold 8,693,290 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $3.68, for a total transaction of $31,991,307.20. Following the completion of the sale, the insider owned 18,037,824 shares of the company's stock, valued at $66,379,192.32. This represents a 32.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 26.59% of the company's stock.

Institutional Trading of Exp World

Institutional investors and hedge funds have recently modified their holdings of the company. Root Financial Partners LLC acquired a new position in Exp World in the 4th quarter valued at $25,000. Philadelphia Investment Partners LLC acquired a new position in Exp World during the 2nd quarter worth $46,000. Commonwealth Financial Services LLC acquired a new position in Exp World during the 1st quarter worth $111,000. Fifth Third Bancorp boosted its holdings in Exp World by 2,697.1% during the first quarter. Fifth Third Bancorp now owns 21,454 shares of the technology company's stock valued at $129,000 after acquiring an additional 20,687 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Exp World by 8.9% during the fourth quarter. Handelsbanken Fonder AB now owns 32,900 shares of the technology company's stock valued at $298,000 after acquiring an additional 2,700 shares during the period. 27.17% of the stock is currently owned by institutional investors and hedge funds.

About Exp World

eXp World Holdings, Inc is a cloud-based real estate services company best known for operating eXp Realty, a residential real estate brokerage. Through its virtual business model, eXp Realty provides real estate professionals with brokerage support, training, collaboration tools and technology designed to help agents serve buyers and sellers.

The company also operates eXp Commercial, which focuses on commercial real estate services. Its broader technology platform has included virtual collaboration and workplace solutions intended to support distributed organizations and real estate professionals.

eXp World Holdings was founded in 2002 by Glenn Sanford, who serves as its chairman and chief executive officer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.