Compass (NYSE:COMP) Posts Earnings Results, Beats Estimates By $0.03 EPS

Compass (NYSE:COMP) issued its quarterly earnings results on Wednesday. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03, Zacks reports. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.65 billion. Compass had a negative net margin of 4.53% and a negative return on equity of 56.79%. During the same period in the previous year, the firm earned ($0.10) EPS. Compass updated its Q3 2024 guidance to EPS.

Compass Price Performance

Shares of COMP traded up $0.02 during midday trading on Friday, hitting $4.28. 6,670,662 shares of the company traded hands, compared to its average volume of 4,517,129. The stock has a 50-day moving average of $3.90 and a 200-day moving average of $3.70. The firm has a market cap of $2.12 billion, a P/E ratio of -6.90 and a beta of 2.89. Compass has a one year low of $1.82 and a one year high of $4.89.

Insider Buying and Selling

In related news, major shareholder Excalibur (Cayman) Ltd Svf sold 16,900,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $4.30, for a total value of $72,670,000.00. Following the transaction, the insider now directly owns 75,570,273 shares in the company, valued at $324,952,173.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on COMP shares. The Goldman Sachs Group boosted their price target on shares of Compass from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Thursday. UBS Group upped their price objective on shares of Compass from $3.50 to $4.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Oppenheimer reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Compass in a report on Wednesday, June 26th. Needham & Company LLC upped their price objective on shares of Compass from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday. Finally, Gordon Haskett raised shares of Compass from an “underperform” rating to a “hold” rating and upped their price objective for the company from $3.00 to $3.75 in a report on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Compass presently has a consensus rating of “Hold” and a consensus price target of $4.28.

Compass Company Profile

Compass, Inc provides real estate brokerage services in the United States. It operates a cloud-based platform that provides an integrated suite of software for customer relationship management, marketing, client service, operations, and other functionality in the real estate industry. The company offers mobile apps that allow agents to manage their business anytime and anywhere, as well as designs consumer-grade user interfaces, automated and simplified workflows for agent-client interactions, and insight-rich dashboards and reports.