William Blair analyst Stephen Sheldon has maintained their neutral stance on RMAX stock, giving a Hold rating on October 29.
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Stephen Sheldon has given his Hold rating due to a combination of factors impacting Re/Max Holdings. The company’s third-quarter results met expectations for revenue and agent count, with a slight outperformance in profit. However, the growth in agent numbers was primarily outside the U.S., while the U.S. market saw a decline in agents, reflecting ongoing competitive pressures and market challenges.
Management’s updated guidance for 2025 indicates a slight decline in revenue and adjusted EBITDA, with modest agent growth. Despite some positive trends, such as increased recruitment rates and new initiatives like the Aspire program, the soft housing market and industry uncertainties continue to weigh on the company’s performance. These mixed signals contribute to the Hold rating, as the potential for stabilization is balanced by current market difficulties.
In another report released on October 29, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $9.00 price target.