Exp World (NASDAQ:EXPI) Raised to Strong-Buy at Benchmark

Exp World (NASDAQ:EXPI) was upgraded by equities researchers at Benchmark to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on EXPI. Weiss Ratings reiterated a “sell (d+)” rating on shares of Exp World in a research note on Monday, December 29th. Zacks Research raised shares of Exp World from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. DA Davidson set a $11.00 price target on shares of Exp World in a research report on Thursday, February 26th. Finally, Zelman & Associates initiated coverage on shares of Exp World in a research note on Friday, March 20th. They set an “underperform” rating and a $4.75 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.92.

Exp World Stock Performance

Shares of EXPI stock opened at $6.20 on Wednesday. The stock’s 50-day moving average is $7.54 and its two-hundred day moving average is $9.48. Exp World has a 1 year low of $5.66 and a 1 year high of $12.23. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -44.28 and a beta of 2.13.

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

Hedge Funds Weigh In On Exp World

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Exp World by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 14,113,222 shares of the technology company’s stock worth $127,725,000 after buying an additional 690,694 shares in the last quarter. State Street Corp grew its holdings in Exp World by 4.6% during the fourth quarter. State Street Corp now owns 3,299,012 shares of the technology company’s stock worth $29,856,000 after acquiring an additional 145,657 shares during the period. Bank of America Corp DE grew its holdings in Exp World by 73.3% during the second quarter. Bank of America Corp DE now owns 3,289,449 shares of the technology company’s stock worth $29,934,000 after acquiring an additional 1,391,582 shares during the period. Renaissance Technologies LLC raised its position in Exp World by 4.6% in the fourth quarter. Renaissance Technologies LLC now owns 2,656,716 shares of the technology company’s stock worth $24,043,000 after acquiring an additional 116,900 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Exp World by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 2,418,531 shares of the technology company’s stock worth $21,891,000 after acquiring an additional 38,134 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.