THE MIRROR OF MEDIA

Compass Posts Narrower-Than-Expected Q2 Loss


Shares of Compass (COMP) gained 2.1% in early buying and selling hours on Tuesday after its Q2 outcomes exceeded analysts’ expectations. Compass is an actual property expertise firm that empowers its residential actual property brokers to ship distinctive providers by means of its end-to-end platform.

Web loss per share got here in at $0.02, a lot under the Road’s estimates of a lack of $0.13. Additionally, it compares favorably with a lack of $0.77 within the final yr’s quarter.

Compass reported Q2 revenues of $1.95 billion, up 186% from the year-ago quarter. The identical was above analysts’ estimates of $1.56 billion. The corporate’s brokers have been in a position to double the market share from 3.3% to six.2% within the second quarter. (See Compass stock charts on TipRanks)

Its brokers closed 65,743 transactions, up 140% year-over-year. Additionally, Compass entered 15 new markets within the second quarter, bringing the whole markets served to 62 on the finish of the quarter.

For Q3, the corporate expects to report income within the vary of $1.65 billion to $1.75 billion. Additionally, full-year 2021 income is predicted to be between $6.15 billion and $6.35 billion, in comparison with the prior steering of $5.35 billion to $5.55 billion.

Final month, Oppenheimer analyst Jason Helfstein reiterated a Purchase score on the inventory with a worth goal of $25 (upside potential of 57.4%). Helfstein expects the corporate to report a loss per share of $0.53 within the third quarter of 2021.

Total, the remainder of the Road has a bullish outlook on the inventory, with a Sturdy Purchase consensus primarily based on 5 Buys and 1 Maintain. The average Compass price target of $23 implies upside potential of about 44.8% from present ranges.

TipRanks information reveals that monetary blogger opinions are 100% Bullish on COMP, in comparison with the sector common of 71%.

Associated Information:
Air Products Reports Mixed Q3 Results; Shares Tank 5.2%
Immunovant Q2 Loss Meets Analysts’ Expectations
Vontier Delivers Better-Than-Expected Q2 Results; Street Stays Bullish



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *