William Blair analyst Stephen Sheldon has reiterated their bullish stance on REAX stock, giving a Buy rating on October 30.
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Stephen Sheldon has given his Buy rating due to a combination of factors, including the positive feedback from Real Brokerage’s recent RISE conference and the company’s strong financial performance. The conference highlighted an impressive increase in attendance, suggesting growing interest and engagement among agents. Real Brokerage reported significant year-over-year growth in both agent count and gross profit, indicating robust business momentum.
Additionally, the introduction of advanced AI solutions at the conference was met with enthusiasm from agents, which could enhance Real’s competitive edge if these solutions prove effective. The company’s supportive culture and expanding tech platform were also praised, reinforcing confidence in its potential to continue expanding its agent base. Given these factors, Sheldon views Real Brokerage as well-positioned to benefit from a future recovery in the housing market, justifying the Buy rating.
Sheldon covers the Real Estate sector, focusing on stocks such as Real Brokerage, CBRE Group, and CoStar Group. According to TipRanks, Sheldon has an average return of -0.5% and a 40.34% success rate on recommended stocks.
In another report released on October 30, B. Riley Securities also reiterated a Buy rating on the stock with a $8.00 price target.