eXp World price target lowered to $10 from $13.50 at DA Davidson

DA Davidson lowered the firm’s price target on eXp World (EXPI) to $10 from $13.50 and keeps a Neutral rating on the shares. The company reported mixed Q1 results that were about 4% below consensus on revenue and also light on adjusted EBITDA, the analyst tells investors in a research note. The tepid U.S. housing market continues to exacerbate some of the softness in eXp World’s domestic business, with total agent count continuing to decline nominally, the firm adds.