Jones Trading Reiterates "Buy" Rating for Real Brokerage (NASDAQ:REAX)

Key Points

• Real Brokerage (NASDAQ:REAX) received a "buy" rating from Jones Trading with a target price of $6.00, indicating a potential upside of 46.70% from its previous close.
• The company has initiated a $150 million share buyback program, suggesting that the board believes its shares are undervalued.
• Recently, Real Brokerage's stock has shown volatility, trading down 0.5% to $4.09, with a 1-year range between $3.80 and $6.75.

Real Brokerage (NASDAQ:REAX - Get Free Report)'s stock had its "buy" rating reiterated by Jones Trading in a report released on Thursday,Benzinga reports. They currently have a $6.00 target price on the stock. Jones Trading's price target points to a potential upside of 52.28% from the stock's previous close.

A number of other brokerages also recently weighed in on REAX. B. Riley began coverage on Real Brokerage in a research note on Wednesday, June 25th. They issued a "buy" rating and a $7.00 target price on the stock. Wall Street Zen downgraded Real Brokerage from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th.

Real Brokerage Stock Performance

Shares of REAX stock traded down $0.15 during mid-day trading on Thursday, hitting $3.94. The company's stock had a trading volume of 1,396,030 shares, compared to its average volume of 925,867. The company's fifty day simple moving average is $4.15 and its 200-day simple moving average is $4.45. Real Brokerage has a 52 week low of $3.80 and a 52 week high of $6.75. The company has a market cap of $779.14 million, a PE ratio of -78.80 and a beta of 1.02.

Real Brokerage (NASDAQ:REAX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.01 earnings per share for the quarter. Real Brokerage had a negative return on equity of 40.20% and a negative net margin of 0.78%. The firm had revenue of $540.75 million during the quarter, compared to analyst estimates of $510.58 million. On average, equities analysts anticipate that Real Brokerage will post -0.1 earnings per share for the current year.

Real Brokerage declared that its board has approved a stock repurchase plan on Friday, May 30th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 17.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On Real Brokerage

Several institutional investors have recently bought and sold shares of REAX. Aquatic Capital Management LLC purchased a new position in Real Brokerage in the fourth quarter valued at approximately $25,000. New York State Teachers Retirement System purchased a new position in Real Brokerage in the first quarter valued at approximately $37,000. Diversified Trust Co purchased a new position in Real Brokerage in the first quarter valued at approximately $47,000. Envestnet Asset Management Inc. purchased a new position in Real Brokerage in the second quarter valued at approximately $47,000. Finally, Oxford Asset Management LLP purchased a new position in Real Brokerage in the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 53.28% of the company's stock.

About Real Brokerage

The Real Brokerage Inc, together with its subsidiaries, operates as a real estate technology company in the United States and Canada. It operates in three segments: North American Brokerage, Real Title, and One Real Mortgage. It offers brokerage, title, and mortgage broker services. The company is based in Miami, Florida.