Real Brokerage (NASDAQ:REAX) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Real Brokerage's stock rating was upgraded from "hold" to a "buy" by Wall Street Zen, reflecting positive analyst sentiment towards the company's future performance.
• Real Brokerage has initiated a stock buyback program allowing it to repurchase up to $150 million in outstanding shares, indicating management’s belief that the stock is undervalued.
• The company reported a quarterly revenue of $540.75 million, surpassing expectations, although it still experienced negative metrics such as a return on equity of -35.33% and a net margin of -0.78%.

Real Brokerage (NASDAQ:REAX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Other analysts also recently issued reports about the company. Jones Trading reaffirmed a "buy" rating and set a $6.00 price objective on shares of Real Brokerage in a research note on Thursday, August 7th. B. Riley assumed coverage on Real Brokerage in a research note on Wednesday, June 25th. They set a "buy" rating and a $7.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $6.33.

Real Brokerage Stock Down 2.7%

REAX opened at $4.97 on Friday. The business has a 50 day moving average price of $4.48 and a two-hundred day moving average price of $4.40. The company has a market cap of $982.82 million, a PE ratio of -99.40 and a beta of 1.05. Real Brokerage has a 52 week low of $3.80 and a 52 week high of $6.61.

Real Brokerage (NASDAQ:REAX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.01 EPS for the quarter. The firm had revenue of $540.75 million during the quarter, compared to the consensus estimate of $510.58 million. Real Brokerage had a negative return on equity of 35.33% and a negative net margin of 0.78%. As a group, sell-side analysts expect that Real Brokerage will post -0.1 EPS for the current fiscal year.

Real Brokerage declared that its board has initiated a stock buyback program on Friday, May 30th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 17.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Real Brokerage

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AWM Investment Company Inc. increased its position in Real Brokerage by 1.2% during the 1st quarter. AWM Investment Company Inc. now owns 2,317,865 shares of the company's stock worth $9,411,000 after purchasing an additional 27,437 shares during the period. Geode Capital Management LLC grew its holdings in shares of Real Brokerage by 6.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,369,849 shares of the company's stock worth $6,178,000 after acquiring an additional 85,007 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Real Brokerage by 2.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,335,093 shares of the company's stock worth $6,021,000 after acquiring an additional 29,806 shares during the period. Nuveen LLC acquired a new stake in shares of Real Brokerage in the 1st quarter worth approximately $4,660,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Real Brokerage by 33.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,036,363 shares of the company's stock worth $4,208,000 after acquiring an additional 259,334 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.