Needham & Company LLC Forecasts Strong Price Appreciation for Compass (NYSE:COMP) Stock

Compass (NYSE:COMP) had its price objective lifted by investment analysts at Needham & Company LLC from $10.00 to $12.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 22.98% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Barclays boosted their price objective on Compass from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group boosted their price objective on Compass from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. UBS Group upgraded Compass from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $7.00 to $11.00 in a research note on Tuesday, February 11th. Finally, Oppenheimer boosted their price objective on Compass from $8.50 to $9.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.69.

Compass Stock Performance

Shares of COMP opened at $9.76 on Wednesday. The stock has a 50-day simple moving average of $6.76 and a 200-day simple moving average of $6.23. The stock has a market capitalization of $4.98 billion, a PE ratio of -31.48 and a beta of 2.95. Compass has a 1 year low of $2.89 and a 1 year high of $10.25.

Compass (NYSE:COMP) last posted its earnings results on Tuesday, February 18th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Compass had a negative return on equity of 39.72% and a negative net margin of 2.74%. During the same quarter in the previous year, the business earned ($0.09) earnings per share. Analysts predict that Compass will post 0.07 EPS for the current year.

Insider Activity

In related news, CEO Robert L. Reffkin sold 49,316 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.91, for a total transaction of $291,457.56. Following the transaction, the chief executive officer now owns 2,950,684 shares of the company’s stock, valued at $17,438,542.44. This represents a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert L. Reffkin sold 2,000,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.46, for a total value of $18,920,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,503,816 shares of company stock valued at $99,574,208. Company insiders own 6.25% of the company’s stock.

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.