Real Brokerage (NASDAQ:REAX) Price Target Raised to $40.00

Real Brokerage (NASDAQ:REAX) had its price objective raised by JonesTrading from $4.00 to $40.00 in a report published on Tuesday morning,Benzinga reports. JonesTrading currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the company. Zacks Research downgraded Real Brokerage from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Edward Jones cut their price objective on Real Brokerage from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. BTIG Research restated a “buy” rating and issued a $42.50 price objective on shares of Real Brokerage in a report on Monday, April 27th. Weiss Ratings raised shares of Real Brokerage from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Real Brokerage in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Real Brokerage currently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Real Brokerage Stock Performance

REAX stock opened at $23.63 on Tuesday. The firm has a market cap of $514.90 million, a PE ratio of -33.76 and a beta of 0.78. The firm’s 50 day moving average price is $20.79 and its 200-day moving average price is $22.04. Real Brokerage has a one year low of $15.50 and a one year high of $54.05.

Real Brokerage (NASDAQ:REAX) last issued its quarterly earnings data on Tuesday, June 30th. The company reported ($0.30) earnings per share for the quarter. The business had revenue of $700.58 million during the quarter. Real Brokerage had a negative return on equity of 25.32% and a negative net margin of 0.72%. Equities research analysts predict that Real Brokerage will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Real Brokerage

Several hedge funds have recently bought and sold shares of the company. Corient Private Wealth LP purchased a new position in Real Brokerage during the 2nd quarter valued at about $100,000. Bank of New York Mellon Corp acquired a new stake in shares of Real Brokerage during the second quarter worth about $680,000. Private Client Services LLC boosted its stake in shares of Real Brokerage by 61.0% in the second quarter. Private Client Services LLC now owns 36,754 shares of the company’s stock valued at $67,000 after purchasing an additional 13,926 shares during the period. Royal Bank of Canada boosted its stake in shares of Real Brokerage by 126.1% in the first quarter. Royal Bank of Canada now owns 20,754 shares of the company’s stock valued at $52,000 after purchasing an additional 11,573 shares during the period. Finally, State of Wyoming grew its holdings in shares of Real Brokerage by 5.8% in the first quarter. State of Wyoming now owns 125,939 shares of the company’s stock valued at $315,000 after purchasing an additional 6,950 shares in the last quarter. Institutional investors and hedge funds own 53.28% of the company’s stock.

Real Brokerage Company Profile

Real Brokerage Inc is a publicly traded, cloud-based residential real estate brokerage headquartered in Toronto, Canada, with operations across the United States and Canada. The company’s platform offers licensed real estate professionals a fully integrated suite of digital tools designed to streamline every phase of the property transaction process, from lead generation to closing.

Through its proprietary technology, Real Brokerage provides agents with transaction management, customer relationship management, digital marketing automation and real-time analytics in a single, user-friendly interface.