Real estate technology company The Real Brokerage (NASDAQ:REAX) will be reporting earnings tomorrow before the bell. Here’s what investors should know.
The Real Brokerage beat analysts’ revenue expectations by 28.9% last quarter, reporting revenues of $340.8 million, up 83.9% year on year. It was an incredible quarter for the company, with an impressive beat of analysts’ earnings and EBITDA 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 61.6% year on year to $346.8 million, slowing from the 92.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally 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 20.3% on average.
Looking at The Real Brokerage’s peers in the real estate services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Compass delivered year-on-year revenue growth of 11.7%, meeting analysts’ expectations, and CBRE reported revenues up 14.8%, topping estimates by 2.7%. Compass traded up 14.3% following the results while CBRE was also up 7.7%.
Read our full analysis of Compass’s results here and CBRE’s results here.
There has been positive sentiment among investors in the real estate services segment, with share prices up 3.3% on average over the last month. The Real Brokerage is up 2.4% during the same time and is heading into earnings with an average analyst price target of $7 (compared to the current share price of $5.48).
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