The Goldman Sachs Group Forecasts Strong Price Appreciation for Compass (NYSE:COMP) Stock

Compass (NYSE:COMP) had its target price hoisted by research analysts at The Goldman Sachs Group from $7.00 to $8.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 9.59% from the company’s current price.

A number of other equities research analysts also recently issued reports on COMP. Oppenheimer boosted their price target on Compass from $8.50 to $9.50 and gave the company an “outperform” rating in a research note on Tuesday. Barclays boosted their target price on shares of Compass from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. UBS Group upped their target price on shares of Compass from $4.40 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of Compass in a report on Tuesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Compass currently has an average rating of “Moderate Buy” and an average target price of $6.58.

Compass Stock Performance

Shares of COMP stock traded up $0.16 on Tuesday, reaching $7.30. The stock had a trading volume of 1,585,712 shares, compared to its average volume of 4,562,527. Compass has a 1 year low of $2.42 and a 1 year high of $7.69. The company has a 50 day simple moving average of $6.25 and a 200 day simple moving average of $5.07.

Insiders Place Their Bets

In related news, major shareholder Excalibur (Cayman) Ltd Svf sold 7,500,000 shares of Compass stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.24, for a total transaction of $46,800,000.00. Following the completion of the transaction, the insider now directly owns 68,070,273 shares of the company’s stock, valued at approximately $424,758,503.52. The trade was a 9.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert L. Reffkin sold 52,501 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $6.90, for a total transaction of $362,256.90. Following the completion of the sale, the chief executive officer now directly owns 947,499 shares in the company, valued at $6,537,743.10. This trade represents a 5.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,237,983 shares of company stock valued at $57,751,622 over the last ninety days. 6.25% of the stock is owned by insiders.

About Compass

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.