Zelman & Associates Initiates Coverage on Exp World (NASDAQ:EXPI)

Analysts at Zelman & Associates assumed coverage on shares of Exp World (NASDAQ:EXPI) in a research report issued to clients and investors on Friday,Benzinga reports. The firm set an “underperform” rating and a $4.75 price target on the technology company’s stock. Zelman & Associates’ price objective suggests a potential downside of 19.63% from the stock’s current price.

Other analysts have also issued research reports about the company. Zacks Research upgraded Exp World from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. DA Davidson set a $11.00 target price on shares of Exp World in a research note on Thursday, February 26th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Exp World in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Exp World has an average rating of “Reduce” and a consensus price target of $7.88.

Exp World Stock Performance

Shares of Exp World stock opened at $5.91 on Friday. The firm has a market cap of $956.77 million, a PE ratio of -42.21 and a beta of 2.13. Exp World has a 52-week low of $5.66 and a 52-week high of $12.23. The business’s 50 day simple moving average is $7.80 and its 200 day simple moving average is $9.61.

Exp World (NASDAQ:EXPI) last announced its quarterly earnings data on Tuesday, February 24th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). Exp World had a negative return on equity of 10.00% and a negative net margin of 0.48%.The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm earned ($0.06) EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities research analysts predict that Exp World will post 0.48 EPS for the current year.

Institutional Trading of Exp World

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in Exp World by 14.0% during the first quarter. Royal Bank of Canada now owns 212,604 shares of the technology company’s stock worth $2,079,000 after acquiring an additional 26,118 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Exp World during the first quarter worth approximately $180,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Exp World by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,677 shares of the technology company’s stock worth $476,000 after buying an additional 2,042 shares in the last quarter. Millennium Management LLC boosted its position in shares of Exp World by 126.7% in the first quarter. Millennium Management LLC now owns 905,523 shares of the technology company’s stock valued at $8,856,000 after acquiring an additional 506,121 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Exp World by 21.5% in the first quarter. Goldman Sachs Group Inc. now owns 622,336 shares of the technology company’s stock valued at $6,086,000 after acquiring an additional 109,995 shares in the last quarter. Institutional investors and hedge funds 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.