Needham Reiterates Buy Rating on Compass Inc. (COMP)

Needham analyst Bernie McTernan reiterated a Buy rating and $10.00 price target on Compass Inc. (NYSE: COMP).

The analyst commented: "We hosted CEO Robert Reffkin and CFO Kalani Reelitz at the 27th Annual Needham Growth Conference. Setting the stage for our fireside chat was the preannouncement from COMP, beating the midpoint of their revenue and adj. EBITDA guide by +8% and +230%, we believe driven by better than expected agent additions, better market conditions and continued opex discipline with opex coming slightly below the guidance range for '24E. After our fireside, we believe the strong trends in 4Q should extend into '25E as agents continue to move towards tech enabled brokerages, either organically or through M&A, which will help COMP against its 3030 vision, which could be further enhanced by the elimination of Clear Cooperation, which could expects to happen relatively soon."

For an analyst ratings summary and ratings history on Compass Inc. click here. For more ratings news on Compass Inc. click here.

Shares of Compass Inc. closed at $6.66 yesterday.

You May Also Be Interested In