Real estate technology company The Real Brokerage (NASDAQ:REAX) will be reporting results tomorrow morning. Here's what you need to know.
The Real Brokerage beat analysts' revenue expectations by 17.6% last quarter, reporting revenues of $200.7 million, up 86.1% year on year. It was a mixed quarter for the company, with a miss of analysts' earnings estimates.
Is The Real Brokerage a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting The Real Brokerage's revenue to grow 42.7% year on year to $264.5 million, slowing from the 65% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. The Real Brokerage has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 25.4% on average.
Looking at The Real Brokerage's peers in the real estate services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Newmark delivered year-on-year revenue growth of 8.1%, meeting analysts' expectations, and Compass reported revenues up 13.8%, topping estimates by 3.3%. Newmark traded down 9.5% following the results while Compass was also down 3.4%.
Read our full analysis of Newmark's results here and Compass's results here.
Investors in the real estate services segment have had steady hands going into earnings, with share prices flat over the last month. The Real Brokerage is up 17.9% during the same time and is heading into earnings with an average analyst price target of $6.1 (compared to the current share price of $5.4).
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