Zacks Research Downgrades Exp World (NASDAQ:AGNT) to Strong Sell

Key Points

• Zacks Research downgraded Exp World to “strong sell” from “hold,” while the broader analyst consensus remains “Reduce,” with three sell ratings, one hold, and one buy; the average price target is $5.17.
• Shares rose 6.3% to $4.39 but remain near their 12-month low of $3.68 and well below the 12-month high of $12.23. Benchmark and DA Davidson also recently lowered their price targets to $6.00 and $4.75, respectively.
• Exp World missed quarterly earnings expectations, reporting a loss of $0.02 per share versus the $0.08 consensus estimate, despite revenue increasing 10.7% year over year; analysts project a full-year loss of $0.07 per share.

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

A number of other analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Exp World to a "hold" rating in a research note on Sunday, May 10th. Weiss Ratings upgraded shares of Exp World from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday. Benchmark cut their target price on shares of Exp World from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, DA Davidson reduced their target price on shares of Exp World from $6.50 to $4.75 and set a "neutral" rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Exp World presently has an average rating of "Reduce" and an average price target of $5.17.

Exp World Trading Up 6.3%

NASDAQ:AGNT opened at $4.39 on Thursday. Exp World has a 12-month low of $3.68 and a 12-month high of $12.23. The firm has a market cap of $721.36 million, a PE ratio of -39.91 and a beta of 2.09. The stock has a fifty day moving average price of $4.65 and a 200 day moving average price of $5.98.

Exp World (NASDAQ:AGNT - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The technology company reported ($0.02) earnings per share 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's revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts forecast that Exp World will post -0.07 EPS for the current year.

Institutional Investors Weigh In On Exp World

A number of institutional investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new stake in shares of Exp World in the fourth quarter valued at about $25,000. PNC Financial Services Group Inc. increased its stake in shares of Exp World by 139.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,429 shares of the technology company's stock worth $31,000 after purchasing an additional 1,998 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Exp World during the 4th quarter worth approximately $37,000. Geneos Wealth Management Inc. raised its position in shares of Exp World by 41.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,365 shares of the technology company's stock worth $62,000 after purchasing an additional 1,856 shares during the last quarter. Finally, CWM LLC raised its position in shares of Exp World by 632.6% during the 4th quarter. CWM LLC now owns 9,070 shares of the technology company's stock worth $82,000 after purchasing an additional 7,832 shares during the last quarter. Hedge funds and other institutional investors own 27.17% of the company's stock.

About Exp World

eXp World Holdings, Inc NASDAQ: EXPI is a cloud-based real estate company that operates a global brokerage model through its eXp Realty subsidiary. Founded in 2009 by industry veteran Glenn Sanford and headquartered in Bellingham, Washington, the company leverages a virtual business environment to connect and support real estate professionals. eXp Realty's technology-driven platform enables licensed agents to list, show and manage residential property transactions without the overhead of traditional brick-and-mortar offices.

At the core of eXp World's offering is its proprietary virtual campus, which provides real-time training, collaboration and networking via an immersive online environment.

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