William Blair analyst Stephen Sheldon has maintained their bullish stance on REAX stock, giving a Buy rating on April 27.
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Stephen Sheldon has given his Buy rating due to a combination of factors, most notably Real’s ability to post robust first-quarter results in a soft housing market and to outgrow the broader U.S. industry by a wide margin. The company delivered strong revenue, gross profit, and adjusted EBITDA upside versus his expectations, translated that into expanding free cash flow, and continued to add agents at a healthy pace when many peers are struggling to grow.
Sheldon also views Real’s emerging ancillary services and technology platform as important long-term drivers of higher revenue and profitability, supporting his confidence beyond the current cycle. While he remains cautiously optimistic about the sizable proposed RE/MAX acquisition, he believes the potential strategic and financial benefits, combined with Real’s differentiated model and leverage to a future housing recovery, justify a favorable risk-reward profile and his Buy recommendation.
In another report released on April 27, BTIG also maintained a Buy rating on the stock with a $4.25 price target.