Needham & Company LLC Reaffirms Buy Rating for Compass (NYSE:COMP)

Compass (NYSE:COMP)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a report issued on Friday,Benzinga reports. They currently have a $12.00 target price on the stock. Needham & Company LLC’s price objective points to a potential upside of 36.91% from the company’s previous close.

COMP has been the topic of several other reports. The Goldman Sachs Group increased their price objective on Compass from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Morgan Stanley upped their price objective on Compass from $6.00 to $8.50 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Oppenheimer raised their target price on Compass from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Barclays boosted their price target on Compass from $7.00 to $9.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 25th. Finally, UBS Group boosted their target price on shares of Compass from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Compass has an average rating of “Moderate Buy” and a consensus price target of $9.61.

Compass Stock Performance

COMP stock opened at $8.77 on Friday. The firm has a 50 day moving average price of $7.60 and a 200-day moving average price of $6.68. Compass has a 52-week low of $2.89 and a 52-week high of $10.25. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of -28.27 and a beta of 2.88.

Compass (NYSE:COMP) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.38 billion. Compass had a negative net margin of 2.74% and a negative return on equity of 39.72%. During the same quarter last year, the firm earned ($0.09) earnings per share. As a group, sell-side analysts forecast that Compass will post 0.09 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Scott R. Wahlers sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.27, for a total value of $2,317,500.00. Following the sale, the chief accounting officer now directly owns 329,187 shares in the company, valued at approximately $3,051,563.49. This trade represents a 43.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert L. Reffkin sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.46, for a total transaction of $18,920,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,926,971 shares of company stock valued at $103,472,099. 6.25% of the stock is currently 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.